Tag: OPEC

Brent oil has longest run of weekly losses since ’02

Traders are split on whether Saudi Arabia will deepen the crude price cuts that propelled oil into a bear market this month.  More »

OPEC in ‘price war’ as Iraq says members fight for market

Crude prices have collapsed more than 20 percent from their June peak, meeting a common definition of a bear market.  More »

Shale boom redraws oil routes as Alaska ships to Korea

South Korea received this month a shipment of Alaskan oil for the first time in at least eight years and may buy more.  More »

OPEC head tells oil market to stop panicking about prices

Crude collapsed into a bear market this month as Saudi Arabia and other producers deepened price discounts for their oil.  More »

Barclays cuts oil-price forecasts on world supply surplus

Barclays Plc cut its oil-price forecasts for the second time this month, citing expectations that OPEC won’t cut supplies sufficiently to remove a global surplus.  More »

Report: Look for offline oil, find political unrest

Oil production around the globe is a canary in the coal mine, with major disruptions providing a strategic warning about growing instability and persistent violence around the world.  More »

Goldman Sachs: Expect U.S. crude to fall to $70 next year

The decline is due to oil production growing at a faster pace than demand, leading to global oil market that’s oversupplied.  More »

Don’t assume Saudi crude drop was move to bolster prices

Brent crude jumped yesterday after a person familiar with the country’s oil policies said the amount it supplied to markets fell in September by 328,000 barrels a day.  More »

Libya says OPEC must cut daily output

OPEC needs to reduce crude output by at least 500,000 barrels a day, Libya’s governor to the group said.  More »

WTI crude oil seen supported near $75 a barrel

Prices have tumbled more 20 percent from their June peak, meeting a common definition of a bear market.  More »

Hedge funds cut bullish bets on crude as prices tumble

Crude is now trading in a bear market, underpinned by speculation that OPEC members are favoring market share over prices.  More »

Oil tankers to China jump to nine-month high amid crude rout

The number of supertankers sailing toward China’s ports surged to a nine-month high amid speculation an oil-price slump is encouraging the world’s second-biggest crude importer to accelerate purchases.  More »
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