Oil posted its biggest ever intraday jump to more than $71 a barrel after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the U.S. has blamed on Iran.
— Read on www.bloomberg.com/news/articles/2019-09-15/oil-prices-jump-19-after-attack-cuts-saudi-arabian-supplies
Tag: Oil
Chart: The Evolution of Standard Oil
In 1911, John D. Rockefeller’s Standard Oil was broken up into 34 pieces by the Supreme Court. Today, the remnants form the base of the U.S. oil industry.
— Read on www.visualcapitalist.com/chart-evolution-standard-oil/
The World’s Oil Glut Is Much Worse Than It Looks
(Bloomberg Opinion) — A meeting of ministers from OPEC states and their oil-producing allies will take place in Abu Dhabi this week. It will probably be a subdued affair. Oil prices remain stubbornly low despite big output cuts by the so-called OPEC+ group and geopolitical factors such as the U.S. sanctions
— Read on ca.finance.yahoo.com/news/world-oil-glut-much-worse-060049207.html
The World’s Oil Glut Is Much Worse Than It Looks – Bloomberg
OPEC and its allies have been using the wrong target for draining excess stockpiles. As a result, they may have to consider longer and deeper cuts.
— Read on www.bloomberg.com/opinion/articles/2019-09-08/the-world-s-oil-glut-is-much-worse-than-it-looks
Animation: The Largest Producers of Crude Oil (1965-2017)
View how the ranking of the world’s largest producers of crude oil changes over a 50 year period, from the Cold War until today.
— Read on www.visualcapitalist.com/the-largest-producers-of-crude-oil-1965-2017/
The US is about to send a lot more oil into an oversupplied market
The oil market is already struggling with too much supply, and the U.S. is about to flood the world with a lot more.
— Read on www.cnbc.com/2019/08/27/the-us-is-about-to-send-a-lot-more-oil-into-an-oversupplied-market.html
Traders Spot Opportunity With LNG Prices at Rock Bottom
(Bloomberg) — It’s bargain time in the liquefied natural gas market.After prices plunged to their lowest on record for this time of year, traders say buyers from Japan to India have started to snap up cargoes in anticipation of a pickup in winter demand. Procurement for the colder season is only expected
— Read on ca.finance.yahoo.com/news/traders-spot-opportunity-lng-prices-090619871.html
Guyana isn’t ready for its pending oil riches but Exxon is.
Energy Stocks in Canada ‘Decoupling’ From Oil Seen as Worst Ever – Bloomberg
The days when energy stocks and the price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record.
— Read on www.bloomberg.com/news/articles/2019-08-14/energy-stocks-in-canada-decoupling-from-oil-seen-as-worst-ever
Oil Steadies Near $55 as Demand Fears Mix With Tighter Supply
(Bloomberg) — Oil steadied near $55 a barrel in New York as persistent concerns over slowing demand jostled with expectations that U.S. crude stockpiles will continue to tighten.Futures were little changed after rising 7.5% in the past three days. American inventories probably dropped by about 2.3 million
— Read on ca.finance.yahoo.com/news/oil-steadies-solid-aramco-result-223948505.html