OPEC

fracking

Rig Count Rises by 10, Huge Short Covering in Crude Market

In the week ended August 19, the number of rigs drilling for oil in the United States totaled 406, up by 10 compared with the prior week but down from a ...
Read Full Story »
oil tanker

Despite Mixed OPEC Outlook, Saudi Arabia Oil Output Hits Record High

The Organization of the Petroleum Exporting Countries (OPEC) has released its monthly oil market report for August. Despite the price of oil being low, there are several key surprises in this ...
Read Full Story »
OPEC

OPEC Statement Lifts Crude Prices

While the Organization of the Petroleum Exporting Countries (OPEC) no longer wields the same power over global oil markets it had 40 years ago, it can still make some noise ...
Read Full Story »
OPEC

OPEC Forecasts Higher Crude Oil Demand in 2017

In its Monthly Oil Market Report for July, released Tuesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
Read Full Story »
OPEC

OPEC June Output Surges to 8-Year High

The Organization of the Petroleum Exporting Countries (OPEC) is scheduled to release its Monthly Oil Market report on Tuesday, July 12. Analysts at Platts provided a preview on Monday, reporting ...
Read Full Story »
OPEC

OPEC Sees Continued Declines in Non-OPEC Crude Supply

In its Monthly Oil Market Report for June, released Monday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
Read Full Story »
OPEC

OPEC Crude Price Up 40% in 2016

In its Monthly Oil Market Report for May, released Friday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
Read Full Story »
OPEC

OPEC Forecasts Slightly Larger Production Drop

In its Monthly Oil Market Report for April, released Wednesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
Read Full Story »
Gas Pump Nozzle

Summer Gas Prices Forecast at $2.04 a Gallon

U.S. drivers can expect to gasoline prices this summer to average about 22% less than last year. The U.S. Energy Information Administration (EIA) on Tuesday said it expects the average ...
Read Full Story »
oil tanker

OPEC Lowers 2016 Oil Demand Estimate, but Production Still Growing

In its Monthly Oil Market Report for March, released Monday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
Read Full Story »
oil train

What Is Driving the Oil Recovery?

Since bottoming on February 11 at $26.05, West Texas Intermediate crude oil has rallied close to 50%, reaching a high of $38.96. Normally a 50% rally would mean something fundamental ...
Read Full Story »
crude oil terminal

Oil Production Freeze Is Much Less Than Meets the Eye

Benchmark West Texas Intermediate (WTI) crude oil for March delivery traded as high as $31.53 a barrel Tuesday morning, up 7% from Friday's closing price of $29.44. About an hour ...
Read Full Story »
ThinkstockPhotos-479358058

Crude Oil Rises on Wishful Thinking

It looks like the crude oil market is getting set to once again tempt investors and traders with higher prices, only to pull the football away at the last instant. ...
Read Full Story »
OPEC

If OPEC Blinks and Cuts Production, Buy These Top Oil Stocks at Once

It finally hit the tape Tuesday. There was some chatter that the OPEC oil cartel finally has started to let it be known that it would reduce production if other ...
Read Full Story »
OPEC

OPEC Raises 2016 Oil Demand Estimate, Forecasts More Balanced Market

In its Monthly Oil Market Report for December, released Monday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket fell 17% ...
Read Full Story »