Good news for the consumer?
Tags » Oil Industry
Saudi Arabia will not cut oil production to boost depressed prices, a reversal in the kingdom’s usual policy of moderating supply to control prices and sending a strong message about the Organization of the Petroleum Exporting Countries’ (OPEC) strategy for dealing with a slumped oil market. 132 more words
WICHITA, Kan. (AP) – Plunging crude prices are hitting oil producers especially hard in Kansas. That is because the oil industry in the state is dominated by small, independent operators who depend heavily on the cash flow from producing wells to pay to drill new ones. 83 more words
(18 Dec 2014, The Age, BusinessDay, p23, Malcolm Maiden)
‘Russia’s oil industry accounts for about half its export income, and about 13 per cent of its gross domestic product, and the oil price is about 45 per cent below its level in the first half of this year. 29 more words
I’m not an oil trader, nor am I a speculator, some bloke will read this article and laugh after I hit publish, but it seems to me that the trouble with the Ruble/oil is more a matter of psychology than it is ‘supply and demand.’ Reading articles from the WSJ, Bloomberg, RT, BBC, Reuters, and various other business sites, the prevailing message is: 352 more words