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Gartman Turns Bullish On Oil

zerohedge.com / by Tyler Durden / Jun 22, 2017 8:49 AM

There has been a distinct shift in sentiment when it comes to oil this morning: after plunging 22% from its February highs, many commentators are suggesting that the bottom is finally in and that it is time to turn “contrarian.”

One among them […]

Oil Shrugs As Iran Hints At More OPEC Cuts, Admits Surprise At US Shale Production

zerohedge.com / by Tyler Durden / Jun 21, 2017 8:04 AM

If at first you don’t succeed, try again… and if that fails, start jawboning about more production cuts again.

Iranian Oil Minister Bijan Namdar Zanganeh says on state radio that “we are consulting with OPEC member states to have them prepared to […]

WTI Plunges To 7-Month Lows – Enters Bear Market As HY Bonds Crater

zerohedge.com / by Tyler Durden / Jun 20, 2017 11:47 AM

WTI Crude has entered a bear market (down over 20% from its highs) amid concerns OPEC-led output cuts won’t succeed in rebalancing the market (and not helped by the fact that Libya is pumping the most crude in 4 years).

For the first […]

Dramatic Images From 3 Months Of Deadly Anti-Government Protests In Venezuela

zerohedge.com / by Tyler Durden / Jun 13, 2017

Violence in Venezuela, South America’s crumbling socialists paradise, is intensifying as street clashes between anti-government protesters and government forces enter their third month. At least 67 people have died since the demonstrations began, including 18-year-old Armando Canizales, who the New York Times described as […]

The Fed’s Last “Rate Hike”

milesfranklin.com / by Andrew Hoffman / Jun 13, 2017

Today, let’s start with one of my “favorite” topics, given my strong belief that OPEC’s highly visible death throes presage the epic level of chaos the gold Cartel will eventually experience when it spectacularly fails – per what I wrote in last month’s “OPEC, like […]

Is $50 Oil Still Realistic?

zerohedge.com / by Tyler Durden / Jun 9, 2017 8:09 AM

With crude (and gasoline) prices doing nothing but tumble since OPEC announced its ‘extension’ deal, erasing all the hope-fuelled bounce off cycle lows, the question once again becomes, is $50 oil still realistic?

Oil prices have plunged back to levels not seen since OPEC […]

BMO: “This Is The Beginning Of The End” For Junk Bonds

zerohedge.com / by Tyler Durden / Jun 8, 2017 3:36 PM

One month ago, Goldman made an interesting observation: unlike the first big drop in oil prices in 2015/2016 when junk bonds, mostly those of energy companies, dropped alongside oil and in many cases decline with an even higher beta than energy equities, in […]

Saudi America – How New Tech Is Creating Another Oil Boom

zerohedge.com / by Charles Kennedy via OilPrice.com / Jun 7, 2017 2:45 PM

Just when you thought there couldn’t be any more oil in Texas … new technology is about to unlock an extremely shallow field that is brimming with heavy oil that has been impossible to recover–until now.

Many oil companies have […]

OPEC Has Survived Crises Far Worse Than the Qatar Debacle

wallstreetexaminer.com / by Money Morning Staff Reports via Money Morning / June 6, 2017

The OPEC oil deal is not in peril, though the mainstream media would have you think otherwise…

Oil prices fell yesterday after member countries like Saudi Arabia, the United Arab Emirates, Egypt, and Bahrain cut diplomatic ties with Qatar. These nations […]

Gulf States Launch Naval Blockade Of Qatar

#SaudiArabia and its allies are effectively running a sea blockade on #Qatar — #OOTT #oil #OPEC #QatarCrisis https://t.co/bZpTuTkPhr

— Javier Blas (@JavierBlas2) June 6, 2017

zerohedge.com / by Tyler Durden / Jun 6, 2017 2:25 PM

In what has emerged as the most significant escalation to result from the Qatar diplomatic […]

The Qatar Turmoil Fallout: Flights, Food, Football And More

zerohedge.com / by Tyler Durden / Jun 5, 2017

Today’s stunning expulsion of Qatar from the Saudi “circle of friends” prompted some analysts to ask if in Qatar’s immediate futures is a departure from OPEC. In a note by Mitsubishi UFJ, the bank notes that “a full-fledged confrontation will, without any doubt, put […]

The Strategic Petroleum Reserve May Have Outlived Its Purpose

financialsense.com / ROBERT RAPIER / 06/05/2017

In December 1975, when memories of gas lines were fresh on the minds of Americans as a result of the 1973 OPEC oil embargo, Congress established the Strategic Petroleum Reserve (SPR). The law was designed “to reduce the impact of severe energy supply interruptions” such as that caused […]

Is This Saudi Arabia’s Newest Strategy To Boost Oil Prices?

zerohedge.com / by Nick Cunningham / May 30, 2017

OPEC’s new strategy to balance the oil market is to cut oil exports to the U.S., a move intended to drain near-record-high crude oil inventories.

OPEC originally thought that six months of combined production cuts would be sufficient to balance the oil market, but the […]

Ignore OPEC, It’s China That Dictates Oil Prices

zerohedge.com / By Nick Cunningham via OilPrice.com / May 29, 2017

The OPEC deal will lead to an ongoing tightening of the crude oil market, putting a floor beneath crude prices in the $50s per barrel in the second half of 2017, according to Helima Croft of RBC Capital Markets. She said that […]

US to Sell Off its Strategic Emergency Oil Reserves

armstrongeconomics.com / by Martin Armstrong / May 28, 2017

The US government plans to sell half of the Strategic Emergency Oil Reserves and gasoline. The days of OPEC embargoes of the 1970s are now long past. The government plans to increase its budget for the financial year by $500 million. Therefore, over the next […]

Wall Street Throws Up On OPEC: Barclays Sees “No Light At The End Of The Tunnel”; MS Cuts WTI Price Target

zerohedge.com / by Tyler Durden / May 26, 2017 7:48 AM

Oil bulls were unhappy with yesterday’s OPEC announcement, which disappointed by adding nothing to the 9 month supply cut extension announcement which had already been leaked and largely priced in while leaving key questions unanswered, including what it has planned for the long-term.

[…]

Global Rally Fizzles After “OPEC Shock” In “Slow Risk-Off Session”

zerohedge.com / by Tyler Durden / May 26, 2017 6:52 AM

S&P futures were fractionally lower from yesterday’s record high as European stocks declined and Asian stocks were mixed, pressured by yesterday’s 5% plunge in crude after OPEC unexpectedly “failed to surprise” markets, and announced the bare minimum supply cut extension that was expected […]

Stocks Up, Bonds Up, VIX Up, Dollar Up, Gold Up… As Crude Crashes

zerohedge.com / by Tyler Durden / May 25, 2017

Jeff Bezos and Bill Gates vying for the world’s richest man title…

***

Today’s biggest story outside of AMZN $1000, was OPEC’s epic fail… OPEC announced a 9-month extension of its production cuts that have not worked. The market was disappointed…WTI saw its biggest […]

“Sell The News” – WTI Tumbles Below $50 After OPEC Disappointment

zerohedge.com / by Tyler Durden / May 25, 2017 11:44 AM

Confident anchors across the media have been proudly proclaiming the rise above $50 as proof that the oil market is heading toward equilibrium again and OPEC’s production cut deal extension will be awesome… except the market seems to be disappointed as it’s clear […]

Oil Tumbles After OPEC Ends With A Whimper; Agrees Only To Nine Month Extension

Two delegates say: consensus reached for 9 month extension #OOTT #OPEC but other items on addenda

— Amena Bakr (@Amena__Bakr) May 25, 2017

zerohedge.com / by Tyler Durden / May 25, 2017 6:44 AM

The OPEC Vienna meeting has not officially concluded just yet, but moments ago a delegate told the […]

Global Markets Mostly Higher After Mildly Dovish FOMC Minutes

wallstreetexaminer.com / by Jim Wyckoff / May 25, 2017

(Kitco News) – World stock markets were mostly firmer overnight. U.S. stock indexes are pointed toward higher openings when the New York day session begins. Major U.S. stock indexes are at record highs.

Gold prices are firmer in pre-U.S. day session trading. Trading in the […]

OPEC “In Terrible Bind” As Monitoring Committee Proposes Nine-Month Extension

zerohedge.com / by Tyler Durden / May 24, 2017 11:46 AM

In the end, the OPEC Vienna meeting – which technically won’t conclude until tomorrow – was anticlimatic, with the recommendation by Joint OPEC-Non-OPEC Ministerial Monitoring Committee in line with what was “trial ballooned”, and leaked in advance:

The JMMC considered several scenarios presented […]

OPEC Is Studying The Following Three Options Ahead Of Thursday’s Meeting

zerohedge.com / by Tyler Durden / May 23, 2017 9:06 AM

Last week, ahead of the OPEC meeting, BofA commodity analyst Francisco Blanch said the oil cartel faced three specific choices ahead of its May 25 meeting in Vienna, when it is widely expected to extend the November 2016 production cut:

First, OPEC could […]

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

zerohedge.com / by Haley Zaremba via OilPrice.com / May 22, 2017

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that […]

Goldman Warns Of “Sharp Oil Price Drop”, Inventory Glut “If Backwardation Is Not Achieved”

zerohedge.com / by Tyler Durden / May 22, 2017 12:50 PM

Increasingly some of the more prominent sellside analysts appear to be picking and choosing ideas from their competitors. Earlier, it was JPM echoing Goldman’s reco when it cut its 10Y yield forecast. Now, in a note previewing the outcome of this week’s OPEC […]