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Saudi Arabia Signaled It's OK With Oil at $50 a Barrel

Oil prices rose on Monday following comments from the Saudi energy minister that the market was heading towards balance, although signs of slowing demand in Asia weighed. 266 more words

International

Norway Moves Towards Banning Gas-Burning Cars By 2025

Norway’s Dagens Næringsliv newspaper reports that four of the country’s major parties have reached agreement on a proposal to ban the sale of new gasoline and diesel-powered cars starting in 2025. 269 more words

Tech

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