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1 Dec 2014 (AFR) - OPEC’s oil gusher to hit marginal producers (weakest)

(1 Dec 2014, AFR, p10, Bradley Olson and Rebecca Penty)

‘The firm stand taken by Saudi Arabia and its OPEC allies last week against cutting crude output to slow the plunge in oil prices has set the energy world on a painful course that will leave the weakest behind, from governments to US wildcatters. 53 more words

1.Market Observations

Oil prices drop below $75 for first time in four years amid supply glut

Oil prices dropped below $75 Thursday, hitting their lowest levels in four years as higher production creates an excess of supply.

The price of West Texas Intermediate crude oil dropped by $2.85 to $74.33, and has fallen more than 30% since June, when prices were above $107. 287 more words

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