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By Phil Flynn |
May 1, 2013
Oil is backtracking and the outside markets seem to suggest that the Federal Reserve will have to do the same. Oil prices are trying to balance weak manufacturing data out of China versus today's Fed decision.
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By Mark Shenk, Bloomberg |
February 28, 2013
OPEC crude output rose for the first time in six months as rising Libyan production outpaced a cut by Saudi Arabia, which has implemented a program aimed at curbing excess supply and supporting prices.
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By Wael Mahdi and Grant Smith, Bloomberg |
January 10, 2013
Saudi Arabia, the world’s largest crude exporter, reduced production to the lowest in 19 months as booming U.S. output and recovering shipments from Iraq threaten to oversupply the global oil market.
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By Phil Flynn |
January 10, 2013
While the weather in China is very cold, it appears their economy is starting to get red hot. China’s export growth exploded, rising 14% in the month of December. Because of that petroleum demand, expectations are rising.
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By Asjylyn Loder, Anthony Dipaola and Grant Smith, Bloomberg |
December 13, 2012
Whether crude costs $60 a barrel or twice that amount, the U.S. is almost free of depending on imported energy and positioned to supplant Saudi Arabia as the world’s No. 1 producer of oil.
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By Ayesha Daya, Bloomberg |
November 13, 2012
The International Energy Agency lowered its world oil-demand forecast for this quarter for a second time, citing weakness in Europe’s economy and disruption to U.S. fuel delivery and travel by Hurricane Sandy.
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By Phil Flynn |
November 13, 2012
In its monthly oil market report, the IEA forecast oil demand growth in 2013 unchanged at 0.8 million barrels a day but warned that risks remain skewed to the downside.
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By Lananh Nguyen, Bloomberg |
November 12, 2012
U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.
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By Phil Flynn |
November 6, 2012
The late day spike seemed to start in Brent crude and could be a sign of the market growing uneasy with the violence on the Saudi-Yemen border.
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By Phil Flynn |
October 24, 2012
Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7% this year to an average of 10.9 million barrels per day.
