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The Big Oil Glut is Over, Says Goldman

Oil prices jumped over 2 percent Monday to their highest since November 2015 after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit. 408 more words

International

Oil Markets: Don't Mistake Short-Term Changes In Futures And Options Prices For Long-Term Changes

By Ed Hirs, Energy Economist

The global market for crude oil is roughly 34 billion barrels per year, or about 93 million barrels per day. Journalists ponder and report every flicker on the screens of oil traders, akin to the play-by-play analysts for sporting events. 534 more words

Energy Fellow

Is It 1987 Yet? The Fracking Bust Keeps Rolling On

By Bill Gilmer, Director of the Institute for Regional Forecasting

The 1982-87 oil bust is the industry standard for tough times. Complaints about falling oil prices and rig counts can always be countered with “At least it isn’t as bad as the 1980s.” But there is no question that times are very tough now. 1,191 more words

Energy Fellow

Oil Prices, Stocks Slump After OPEC-Russia Fiasco

Crude oil prices are slumping and dragging global stock markets sharply lower Monday after a much-hyped meeting of the world’s biggest oil producers failed to produce an agreement on restraining output to tackle the glut on world markets. 436 more words

International

Iran Just Trashed the Oil Price Recovery Party

Crude oil prices fell around 2 percent on Monday after Iran dashed hopes that there would be a coordinated production freeze any time soon.

Iran’s oil minister, Bijan Zanganeh, said on Sunday that the Islamic Republic would only cooperate in restraining output once its own production levels hit 4 million barrels a day, roughly where they were before the impositions of U.N. 339 more words

International

Econ 101 And The Oil Markets: Where Are We? And How Did We Get Here?

Bill Gilmerdirector of the Institute for Regional Forecasting

Forecasting the future is next to impossible. It is hard enough just to figure out where you are and how you got there. 2,196 more words

Energy Fellow

Oil Prices Are Now 40% Above Their 2016 Lows

Oil prices rose on Monday, extending a rally that has lifted crude benchmarks by more than a third from this year’s lows, as tightening supply and an improving global outlook strengthened the sentiment for a market recovery. 491 more words

International