Looks like we've reached the new normal... Oil prices top $50, Asian shares struggle on China worries May 25 2016 - Brent crude oil rose above $50 a barrel for the first time in nearly seven months on Thursday but Asian shares struggled to gain traction, with worries about U.S. interest rates and China's slowing economy keeping many investors on the sidelines.
The oversupply of oil is easing in the United States... Lower Supplies Boost Oil Prices, With Demand Expected to Grow May 26, 2016 | WASHINGTON Oil prices rose above $50 a barrel Thursday for the first time this year, following a report the oversupply of oil is easing in the United States.
the demand for oil is predicted to be the highest in almost 10 years this summer, though i would bet against it. i think the speculators are wrong or tricking a long bet so they can capitalize on it.
This should bring gas prices down in the near term... Exclusive: As Iran's oil exports surge, international tankers help ship its fuel Mon Jun 6, 2016 - More than 25 European and Asian-owned supertankers are shipping Iranian oil, data seen by Reuters shows, allowing Tehran to ramp up exports much faster than analysts had expected following the lifting of sanctions in January.
Possible oil surplus to keep prices stable for now... Goldman Sachs maintains fragile outlook on global oil prices on possibility of surplus output Tuesday 23rd August, 2016 - Investment banking major Goldman Sachs has said global oil price recovery continues to be fragile, as a pick-up in disrupted production in countries like Nigeria, Iraq and Libya in the latter part of the year may result in surplus output.
New normal? Tell that to the Long Term Capital investors whose money managers all had Phds in finance, econ, and statistics. They lost billions because, like you, they believed oil prices were predictable.
Looks like gas prices gonna go up in the near term... Oil prices surge as US burns through crude supply at record rate 8 Sept.`16 - Tropical storms and Hurricane Hermine combined to slow the movement of oil tankers and shut in offshore drilling, forcing the U.S. oil industry to dip into its massive oversupply at the highest rate for this time of year.
Oil prices comin' down, gas should be cheaper in the short run... Oil prices slide on supply glut warning September 13, 2016 Oil prices slumped Tuesday as the International Energy Agency warned that a global supply glut would last longer than expected, ahead of a meeting of producers to tackle the issue.
Gas prices are always lower during an election... Gasoline prices could be the cheapest for any fall since Obama was first elected 14 Sept.`16 - Drivers may see the cheapest average fall gasoline prices since the year President Barack Obama was first elected, and home-heating fuel prices could be setting up for another 16-year low.
Likely to be seen immediately at the pump... Oil climbs as Venezuela sees output deal, Libya suffers clashes Mon Sep 19, 2016 | Oil prices rose almost 2 percent on Monday, after Venezuela said OPEC and non-OPEC producers were close to reaching an output deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. See also: Easy resolution unlikely for contentious Dakota pipeline Mon Sep 19, 2016 | A potential rerouting of a long-anticipated pipeline at the center of a protest in North Dakota would be a laborious and costly task, possibly delaying a startup by months and provoking further opposition from Native American and environmental groups who were instrumental in halting construction.
What's up with the prices of quarts of oil for oil changes? They still pricing like it's $140 a barrel. That makes me mad. Sup? Gougers? Discount Auto Parts:This is you.
Yeah, gas went up 30 cents/gal. overnight here... Oil surges over 2 percent to June highs on another U.S. crude draw October 5, 2016 - Oil prices hit session highs on Wednesday, rising to their highest since June, after the U.S. government reported another surprise weekly drawdown in crude inventories.
Granny says, "Dat's right - dat's the thanks we get fer fightin' dey's wars fer `em... Saudi says US$60 oil 'not unthinkable' by year-end Tuesday 11th October: Saudi Arabia said on Monday (Oct 10) it was "not unthinkable" that the price of crude oil could surge to US$60 a barrel by the end of the year but warned against drastic production cuts that might shock markets.
You can bet the Russians will be against anything that balances out oil prices... IEA says oil market may rebalance faster if OPEC sticks to target Tue Oct 11, 2016 | Global oil supply could fall in line with demand more quickly if OPEC and Russia agree to a steep enough cut in production, but it is unclear how rapidly this might happen, the International Energy Agency said on Tuesday. See also: Russia's Rosneft boss Sechin says no to OPEC oil cap Tue Oct 11, 2016 | Igor Sechin, Russia's most influential oil executive and the head of state-controlled energy giant Rosneft (ROSN.MM), said his company will not cap oil production as part of a possible agreement with OPEC. Russia was already pumping at the post-Soviet record high of 11.1 million barrels per day in September thanks to a recovery in oil prices which triggered exploration drilling activity. "Given the propensity of OPEC and other producers to talk up prices, and the history of failed deals among OPEC and between OPEC and Russia, we would continue to treat the news somewhat carefully for the longer term," Sberbank CIB said in a note. The Russian oil landscape is dominated by a handful of players -- second-biggest firm, private Lukoil (LKOH.MM), private producer Surgut (SNGS.MM), state-owned Gazprom Neft (SIBN.MM) and Tatneft (TATN.MM). The companies plan to raise production by about 1.6 percent on average in 2017, according to their forecasts and Reuters calculations as they benefit from a weaker rouble and cheaper costs at home. Sechin has long argued that any oil price increase as a result of joint actions by OPEC and non-OPEC members will allow the United States to resume production growth from high-cost shale deposits. "The Americans want it most ($50 per barrel) as the shale oil projects become profitable with such a price. And $60 (per barrel) will result in more shale oil projects," Sechin told Reuters. http://www.reuters.com/article/us-oil-opec-russia-sechin-idUSKCN12B0J1[/quote]
Oil producers close to output cap deal... Venezuela's Maduro says oil producers close to output cap deal Sat Oct 22, 2016 | Venezuelan President Nicolas Maduro was quoted on Saturday as saying that OPEC and non-OPEC nations were "very close" to an agreement on oil production curbs, Azerbaijan's state news agency Azertag reported.
Sputtering global economy means faltering demand for oil... Oil Prices Waver, Rise in Turbulent and Complex Market October 27, 2016 - Oil prices have been bouncing up and down recently, as a sputtering global economy meant faltering demand for energy. The balance between crude oil supplies and energy demand has been rattled further by surging competition from wind and solar energy, a deal to limit production by members of the Organization of Petroleum Exporting Countries, and unrest in some key oil-producing nations.
We need to stop wasting Methane, and utilize it and store it, more Propane and NG, Also use Alcohol as fuel, And since we can produce Diesel using Algae, and used cooking oils, We also need improved scavenging multifueled engines that can run on whatever is cheapest.
Another OPEC meeting to try and raise oil prices... Amid low crude prices, world oil officials meet in Abu Dhabi Nov 7,`16 -- Leading oil officials from around the world meeting in Abu Dhabi remain tense over low crude prices, though they are trying to sound optimistic.
Look for gas prices to go down... Oil tumbles as output cut looks elusive; dollar sinks November 28, 2016 - The dollar and U.S. bond yields fell on Monday as investors reversed a "Trumpflation" trade that has gripped markets since the U.S. elections, after oil prices slid on fears that producer countries meeting this week could fail to agree an output cut.
Will determine if crude oil prices go up... OPEC begins debate on oil cuts amid deep disagreement Wed Nov 30, 2016 | OPEC began on Wednesday debating a deal to curtail oil production and prop up the price of crude, with Iran and Iraq resisting pressure from Saudi Arabia to participate fully in any action.
Sounds like gas prices gonna go up - better gas up now... OPEC closer to deal to cut oil output, sparking price rally Nov 30,`16 -- In an all-out effort to restore OPEC's faded clout, the 14-nation cartel moved Wednesday to end infighting and agree to cut output for the first time in eight years. Crude prices surged as a result.
Wall Street makin' gains off expected crude oil price increase, GoPro to cut 15 percent of workforce... S&P, Dow hit record highs as oil, bank stocks gain November 30, 2016 - The Dow and the S&P 500 hit record intraday highs on Wednesday, fueled by gains in energy and bank stocks. See also: GoPro to cut 15 percent of workforce amid sales slump November 30, 2016 - Wearable action-camera maker GoPro Inc said on Wednesday it would cut about 15 percent of its workforce and shutter its entertainment business, as the one-time Wall Street favorite cuts costs to help it return to profitability.
Is all Trump's fault... Oil jumps over 10 percent as OPEC finalizes output cut deal November 30, 2016 - Oil soared more than 10 percent on Wednesday to over $50 a barrel and its highest in a month as some of the world's largest producers agreed to curb production for the first time since 2008 in a bid to support prices.
Cuts not to have much of effect on glut... OPEC cuts will have a muted effect on consumers Dec 1,`16 -- OPEC's decision to cut production gave an immediate boost to oil prices, but the impact on consumers and the U.S. economy is likely to be more modest and gradual. See also: Oil price rally likely short-lived as OPEC deal not enough to reduce glut Thu Dec 1, 2016 | The oil price rally sparked by an OPEC-Russia deal to cut output is likely to be short-lived, say traders in Asia, because the agreement may only draw more supplies from storage tanks and more crude shipments from the United States.
Oil hits $55/bbl. for first time in 16 months... Oil tops $55 for first time in 16 months as OPEC deal fuels buying Mon Dec 5, 2016 | Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, on rising prospects of a tightening market after OPEC members agreed on a landmark deal to cut production last week.
