According the the chief of state-run Kuwait Petroleum Corp., oil prices will stay at about $65 a barrel for at least half a year until OPEC changes its collective production or world economic growth revives...
“There’s no doubt lower oil prices will act as a stimulus to growth in the region,” Frederik Ducrozet, a Paris-based economist at Credit Agricole, said by phone to Bloomberg. “Greece, Spain, Portugal and Italy would be clear beneficiaries.”...
As oil prices drop to more than four-year lows, analysts are slashing their forecasts, with some predicting it could plunge as much as 40 percent to around $40 a barrel...
Both Brent and Crude Oil extended to new milestone lows overnight, with optimism continuing to fade that the OPEC decision later today will support a cut in production. Overnight, Brent declined to $76.30 while Crude dropped to $72.58...
Brent and West Texas Intermediate extended declines from the lowest price in more than four years amid speculation that OPEC will refrain from cutting output when ministers meet in Vienna today...
Brent crude oil steadied below $79 a barrel on Wednesday after Saudi Arabia signaled that despite lunging prices it was unlikely to push for a major change in OPEC oil output...
On Wednesday OPEC leader Saudi Arabia anounced it was unlikely to push for a major change in oil output at the producer group's meeting this week...
Oil prices are plunging, however Saudi Arabia is unlikely to consider Iran's request for a cut in oil production when OPEC meets Thursday, analyst Stephen Schork told CNBC on Monday. He sees the bottom for oil at $75 to $80 a barrel...
The authorities of the world's biggest crude oil producer are considering joining OPEC production cuts next year to boost oil prices, however, there isn’t consensus yet to proceed with the measure, as Bloomberg reports...
On Friday China's central bank cut its benchmark interest rates for the first time in more than two years in order to reduce borrowing costs and support an economy on track for its slowest annual growth in 24 years. This move made Brent crude oil rise to near $81...
The Daily Reckoning (Subscribe for free at www.dailyreckoning.com.au) --The pain for commodities just doesn’t seem to let up. This time, it’s oil in the spotlight. Overnight, West Texas Intermediate fell more than 3.5%, closing at US$74.21 a barrel...
Crude cracked the 2012 low yesterday to trade at its lowest level in three years Our near-term trend bias is lower in the commodity while below 82.80 A convergence of the 50% retracement of the 2008-2011 advance and the 200% extension of the 1H14 range around 75.50/74...
The meltdown in the oil market is not over yet. That's the message from Jeffrey Gundlach, the star bond investor who predicts oil will plunge another $10 (it's $80 a barrel now). While another decline in oil prices would bring smiles to American consumers -- think around $2...
MEXICO CITY—Mexican conglomerate Alfa SAB said Monday it plans to issue new stock to raise capital as it seeks to take advantage of opportunities opened up for the private sector under Mexico’s new energy laws. Alfa, based in Monterrey, said in a news release that the... Read more -> Sources...
Crude Oil was weak most of the month on lower demand and high production with a global glut. The commodity closed at 91.16 after climbing back above the $94 level and then crashing as the markets closed for the month. Brent Oil dipped from over $100 to close at 94...
10. Suntech Date of Bankruptcy: March 20, 2013 Debts: $1.6 billion The Chinese solar panel manufacturer, one of the world's biggest, was forced into bankruptcy court after the company missed a $541 million payment to bondholders. 9. OGX...
Crude-oil futures tumbled again Tuesday after posting new lows for the year in overnight trade. On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX4, -0.34% traded at $85.07 a barrel, down $0.67 in the Globex electronic session...
There is mounting chatter in commodities circles that the oil price is falling just as fast as iron ore because major producers are ramping up output to put pressure on new market entrants...
Texas has moved to respond to complaints of air pollution due to fracking activities in South Texas, with the Texas Commission on Environmental Quality (TCEQ) installing an air monitoring station inside the Eagle Ford Shale...
