crude oil prices

Oil Price Holds Firm Despite Massive Stockpile Increase

Posted: October 17, 2019 at 11:40 am

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning, showing that U.S. commercial crude inventories soared by 9.3 million barrels last week, maintaining a total ...
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US Lowers Oil Price and Demand Forecasts for 2020

Posted: October 8, 2019 at 1:29 pm

With slower global growth and oil in ample supply, a fresh new look from the U.S. Energy Information Administration (EIA) is projecting that oil prices will be lower in 2020. ...
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Oil Prices Could Reach Unimaginable Heights If Saudi Arabia, Iran Go to War

Posted: September 30, 2019 at 8:45 am

In an interview Sunday on CBS's 60 Minutes, Saudi Arabia's Crown Prince Mohammed bin Sultan said that a war between his country and Iran would send crude oil prices soaring: ...
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Some Energy Short Sellers Feeling Squeezed

Posted: September 25, 2019 at 9:40 am

Crude oil traded around $56.29 a barrel early Wednesday, up more than $2.00 in the past week, but far below a high of $62.90 posted on September 16, the first ...
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US Oil Stockpile Posts First Build in 5 Weeks

Posted: September 18, 2019 at 11:15 am

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories increased by 1.1 million barrels last week, maintaining a total ...
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Very Mixed Reactions to Saudi-Attack Oil Price Spike in Transportation Stocks

Posted: September 16, 2019 at 10:45 am

The weekend attacks on Saudi Arabia's oil production and infrastructure have created major moves in the markets. After all, Saudi Arabia has close to 10% of global production, and roughly ...
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US Tops Saudi Arabia as World’s Largest Oil Exporter

Posted: September 12, 2019 at 5:06 am

The demand for crude oil has risen recently, according to an organization that tracks supply and demand. The surge in U.S. production and the politics of OPEC finances allowed America ...
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Get Ready For $2 Gas

Posted: August 25, 2019 at 7:38 am

As the economy slows while global oil production does not, gas prices are expected to drop after Labor Day, which concludes the summer driving season. Forecasts of U.S. GDP have ...
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7 Big Oil & Gas Stocks Analysts Want You to Buy Now

Posted: August 21, 2019 at 2:25 pm

The energy sector used to be rather dominant in the weighting of the S&P 500. In 2019, it's hard to find investors who are all that eager to buy into ...
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How Much Has the Shale Boom Boosted GDP During the Great Recovery?

Posted: August 20, 2019 at 12:45 pm

If you have been out to West Texas or driven through much of North Dakota where unconventional oil drilling has taken off, it's obvious that a lot of money gone ...
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Why China Imports Much More Saudi Oil Than the US

Posted: August 15, 2019 at 11:10 am

Saudi Arabia has responded to the reimposition of U.S. sanctions on Iranian oil sales by directing more oil to China and less to the United States. According to U.S. Energy ...
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Oil US Keeps in the Ground Steadies at 665 Million Barrels

Posted: August 10, 2019 at 9:45 am

America's Strategic Petroleum Reserve is the largest supply of emergency oil in the world. After drawing down several million barrels in two of the past four months, the amount has ...
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Why Does OPEC Even Hold Meetings?

Posted: July 2, 2019 at 8:25 am

The Organization of the Petroleum Exporting Countries (OPEC) has officially agreed to extend its production cuts for an additional nine months. And the sun rose in the east. The agreement ...
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The Russian Tail Wags the OPEC Dog

Posted: July 1, 2019 at 10:10 am

This past Saturday at the G-20 meeting in Osaka, Russian President Vladimir Putin announced that Russia and Saudi Arabia had struck a deal to maintain their current output cuts at ...
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Can OPEC and Russia Combined Stop Falling Oil Prices?

Posted: June 6, 2019 at 12:05 pm

Monitoring the price of oil in a macroeconomic situation with volatile financial markets can get a bit tricky. Now that oil officially has entered into a bear market by falling ...
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