News

No Changes Planned at OPEC Meeting

Monday, June 13, 2016

No Changes Planned at OPEC Meeting

The 13 members of OPEC decided against making any policy changes during its most recent meeting earlier this month, dismissing calls from some members to institute a production cap in an effort to get oil prices to climb once again. Instead, OPEC members will continue to produce as...

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Iran No-Show Causes Breakdown of Major OPEC Production Deal

Wednesday, April 20, 2016

Iran No-Show Causes Breakdown of Major OPEC Production Deal

Despite efforts to reach a deal for a worldwide supply cap, the absence of a key country at a recent OPEC meeting created a meltdown in negotiations, causing the price of oil to remain on the low end. All parties were on board to support the deal, which...

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Oil Markets Rallying, Recovering from 2016 Lows

Wednesday, March 23, 2016

Oil Markets Rallying, Recovering from 2016 Lows

Oil prices hit highs for the year last week as the price of a barrel climbed above $40, helping rally what has been a slumping oil market. The climb in price comes as suppliers are hopeful that foreign oil products will strike an agreement next month to reach...

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Oil, Oil Everywhere, but Where to Store It?

Sunday, February 14, 2016

Oil, Oil Everywhere, but Where to Store It?

The dramatic drop in oil prices continues to cause problems for the industry as a whole, with the latest cause for concern centered on storage. As Market Watch reports, the storage tanks in Cushing, Oklahoma, which serve as a delivery point for the New York Mercantile Exchange crude...

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Could the Oil Industry Get Bailed Out?

Monday, January 18, 2016

Could the Oil Industry Get Bailed Out?

If you gone to fill up your gas tank recently, you’ve surely noticed that gas prices are continuing to drop. This decline is tied to the dropping cost of oil, which has, in turn, started to put a serious strain on the oil industry. Market conditions have declined...

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Oil Prices Continue to Plummet With Surprise Rise in Stockpile

Wednesday, January 13, 2016

Oil Prices Continue to Plummet With Surprise Rise in Stockpile

It’s no secret that recently gas prices have taken a tumble. Now no one is complaining about having to pay less at the pump, but if you are wondering why prices are as low as they are, it’s because we’re experiencing a surplus that is causing quite a...

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Another Month of Ups and Downs for Oil

Tuesday, December 15, 2015

Another Month of Ups and Downs for Oil

As we all know when it comes to the oil market, things change quite frequently. One week filling up your gas tank can cost $4 per gallon, while it can be less than $2 for a gallon just a few months later. These fluctuations have not been good...

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OPEC Market Correction Could have Stopped Price Plummet

Saturday, October 24, 2015

OPEC Market Correction Could have Stopped Price Plummet

OPEC has much less to do with the oil market than most might realize. OPEC's problem is it let prices stay as high as they did for so long. This allowed new competition to the market from outside its cartel, namely from US oil and newly-tapped fracking reserves....

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Why Global Oil Companies Won’t Cut Production

Thursday, October 15, 2015

Why Global Oil Companies Won’t Cut Production

A market component driving down oil prices may surprise many privy to the market. An inordinate number of oil producing countries aren’t responding to the market climate and continuing production as normal. This despite the plummeting price of the resource thanks to a supply outstripping demand throughout 2015....

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