Tags » Oil Supply

2 Aug 2016 (TheAgeDailyTelegraph) - Low cost US (Texas) shale oil fights Saudi Arabia to a standstill

(2 August 2016, The Age, BusinessDay, p25,  Ambrose Evans-Pritchard, Daily Telegraph, London)

‘Opec’s worst fears are coming true. Twenty months after Saudi Arabia took the fateful decision to flood world markets with oil, it has still failed to break the back of the US shale industry. 32 more words

1.Market Observations

15 July 2016 (AFR) - Oil tumbles after US stockpiles unexpectedly increase

(15 July 2016, AFR, p29, by Mark Shenk)

‘Oil tumbled after a government report showed US fuel inventories unexpectedly grew, adding to concerns about oversupply. Gasoline supplies rose 1.21 million barrels last week, Energy Information Administration data on released Wednesday show. 47 more words

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6 July 2016 (AFR) - Oil rally threatened as US flooded with oil; US drivers guzzle gas

(6 July 2016, AFR, p12, by Mark Shenk)

‘American drivers’ seemingly insatiable thirst for gasoline is running into a flood of supply. Refineries across the nation are operating full-out and imports are pouring into the East Coast, boosting gasoline supplies to a record. 44 more words

1.Market Observations

OPEC optimistic on oil recovery

OPEC ministers were cautiously confident Wednesday, June 1, that the oil market is finally on the mend, cementing expectations that the cartel will keep crude gushing at a meeting in Vienna. Read more here.

Energy

OPEC sets no new output target

OPEC decided Thursday, June 2, to keep oil gushing after a moderate recovery in the crude eased the pressure to limit output, with Saudi Arabia saying the cartel is “very satisfied” with the market.   32 more words

Energy

24 May 2016 (AFR) - OPEC plans new meeting to cut deal on oil supply

(24 May 2016, AFR, p13, by Grant Smith and Mark Shenk)

‘London After failing to reach an accord on oil supply in Doha last month, OPEC is poised to go another meeting with no agreement on how much crude to produce. 58 more words

1.Market Observations