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Oil News: Oil Baron's $433 million Bet that OPEC Blinks First
2014-11-09 20:40:44| Electronics - Topix.net
Now, he's backing up that comment by unloading his company's oil hedges in anticipation that OPEC won't engage in a price war with American producers. In Wednesday's earnings release, Hamm said: We view the recent downdraft in oil prices as unsustainable given the lack of fundamental change in supply and demand.
How oil's 29% drop surprised investors on OPEC price war
2014-10-31 02:41:17| Energy - Topix.net
After three-and-a-half months of slow decline, the tipping point for a steeper drop came on Oct. 1, said Ray Carbone, president of broker Paramount Options Inc. That's when Saudi Arabia cut prices for its biggest customers. The reasons oil prices started sliding in June were hiding in plain sight: growth in U.S. production, sputtering demand from Europe and China, Mideast violence that threatened to disrupt supplies and never did.
Tags: price
war
drop
surprised
OPEC Finding U.S. Shale Harder to Crack as Rout Deepens: Energy
2014-10-16 00:11:11| Oil & Gas - Topix.net
OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make U.S. shale oil unprofitable. As producers become more efficient, that floor is sinking.
Tags: energy
finding
crack
harder
OPEC Finding U.S. Shale Harder to Crack as Rout Deepens: Energy
2014-10-15 12:48:18| Energy - Topix.net
OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make U.S. shale oil unprofitable. As producers become more efficient, that floor is sinking.
Tags: energy
finding
crack
harder
Brent slips towards $97 despite talks of OPEC output cuts
2014-09-19 01:00:00| Offshore Technology
The price of Brent crude dropped towards $97 a barrel today despite talks of lower output from the Organization of the Petroleum Exporting Countries (OPEC).
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