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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


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


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


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


Crude Oil Prices Hit 2-Month High as U.S. Output Falls Again

Crude futures rose above $35 a barrel for the first time in two months Friday, buoyed by renewed optimism that prices may have bottomed out after data showed U.S. 390 more words


Saudi, Russia Agree To Freeze Oil Output Levels

The world’s two largest oil producers struck a tentative deal to freeze their oil output at current levels in what may be the start of coordinated action to end the global crude glut. 435 more words


Saudi Arabia and Russia 'Agree To Freeze Production"

Crude oil futures surged 5% overnight to their highest in a week on reports that Saudi Arabia and Russia were set to put aside their differences and work together on restricting output to end the current glut on world markets. 442 more words