Monday, October 12, 2015
Tough times continue in the oil market. With prices having dropped once again to below $47 per barrel, after briefly jumping 3% as a conclusive overreaction, estimates show price per barrel to dip well into the thirties, even. Though there was a surge in prices in the early...
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Monday, October 05, 2015
In the latest sentiment crude will plummet by over 100% from its current figure to below $20 per barrel, investors continued to sell of their shares in the commodity. In another blow to the already crippled market, producers are being advised to cut output for lack of any...
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Sunday, October 04, 2015
Oil prices have wreaked havoc on the market over the past year. Most people have pointed to OPEC as the reason prices have plunged and thousands of U.S. oil workers are out of work. But is OPEC really to blame for the drop in oil prices? OPEC is...
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Sunday, October 04, 2015
Vladimir Putin’s order to begin bombing targets in Syria this week has reminded the world not much has changed in Moscow. But on the same token, it has leaders wondering exactly what Russia’s ultimate strategic goal is with the aggression in Syria. Aside from propping up Bashar al-Assad’s...
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Monday, September 21, 2015
The oil market is continuing to struggle with no end in sight. With the price per barrel having dropped under $50 by nearly $10 since the end of the summer driving season—pre-Labor Day—the market keeps getting hit. And with factors at play continuing to diminish market returns, there...
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Thursday, September 03, 2015
“If oil prices stay low longer enough, supply will go down naturally.” This, according to Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, is the theory driving Russia’s decision to not cut oil production. Russia intends to continue to flood the global oil market with their vast...
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Tuesday, September 01, 2015
What’s happening with oil right now is eerily similar to what happened in housing 8 years ago. If you don’t see the parallels, consider in 2005 construction in suburban Phoenix, Las Vegas and Tampa was booming. Everything from strip plazas to entire neighborhoods were going up in a...
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Monday, August 31, 2015
Following nearly a decade of collective record profits, US oil companies have been forced to decommission about 40% of the rigs fully functioning no more than two years ago. Having dropped 50% since June of 2014, the price of a barrel of oil is at levels not seen...
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Tuesday, August 25, 2015
As you may know, the oil industry is a global one. When we’re paying rock bottom prices at the pump, not only are oil drillers in the US impacted by the pinch, so too are drillers in every country from Venezuela to Saudi Arabia to Russia. Also, as...
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Thursday, August 20, 2015
There’s more bad news for the struggling oil industry, but good news for drivers and consumer confidence. Oil this week was down 4% putting crude at 6 ½ year low. Traders are calling for October futures of $41.27 per barrel with inventory reports of a sky-high to 2.6...
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