Tag: Saudi Arabia

Oil trades near five-year low on U.S. stockpiles, Iran

Futures rose as much as 4 percent in New York following an increase of 1 percent yesterday.  More »

Crude oil futures rebound with stocks as selloff pauses

Brent, the benchmark for half the world’s oil, advanced from a five-year low. West Texas Intermediate shrugged off an increase in supplies at Cushing, the delivery point for Nymex futures.  More »

Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »

Commentary: actions speak louder than words on oil prices

FuelFix.com Voices blogger Matt Smith takes a look a prices. His starting premise: “With soooooooo much talk swirling about the current oil price drop, I feel compelled to focus less on the rhetoric and more on the data. So the vibe of this post lands somewhere inbetwixt Elvis Presley’s ‘a little less conversation, a little more action’ and one of my bosses favorite phrases: ‘In God we trust, all others must bring data’.”  More »

Crude oil extends drop below $60 as IEA cuts forecast

The IEA reduced its estimate for oil demand growth in 2015 by 230,000 barrels a day on Friday.  More »

WTI oil extends drop below $60 as IEA cuts forecast

WTI has tumbled 20 percent since OPEC decided to leave its output ceiling unchanged last month, resisting calls from members including Venezuela to cut production to stabilize prices.  More »

WTI oil drops below $60 after Saudis question need to cut

OPEC decided against reducing its output quota at a meeting last month, letting prices drop to a level that may slow U.S. production that’s surged to the highest level in more than three decades.  More »

WTI falls to 5-year low as Saudis question need to cut

Oil’s collapse into a bear market has been exacerbated as OPEC’s three largest members offered the deepest discounts on exports to Asia in at least six years.  More »

Oil price hit by OPEC numbers as Saudis stand firm on output

OPEC cut the forecast for how much crude it will need to produce next year by about 300,000 barrels a day to 28.9 million a day, the least since 2003.  More »

Iranian president calls fall in oil prices ‘treachery’

Rouhani spoke at a Cabinet meeting Wednesday about what he thought was a “politically motivated” fall in prices.  More »

OPEC says 2015 demand for its crude will be weakest in 12 years

OPEC lowered its projection for 2015 by about 300,000 barrels a day, to 28.9 million a day.  More »

Kuwait sees oil stuck at $65 for six months until OPEC moves

OPEC decided on Nov. 27 to maintain its output target, prompting a drop in European benchmark Brent crude to less than $70 a barrel for the first time since May 2010.  More »

Crude rebounds from five-year low

Crude is trading in a bear market as the highest U.S. production in three decades exacerbates a global glut.  More »

C&J Energy postpones $650 million loan as oil plunges

Lead arranger Citigroup Inc. expects to begin marketing the debt again early next month.  More »

Brent heads for 5-year low as Saudi discounts spur competition

Futures slid as much as 1.1 percent in London and are headed for a second weekly decline.  More »
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