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OPEC To Take Drastic Action Despite Shale Slowdown

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zerohedge.com / by Nick Cunningham via OilPrice.com / Oct 11, 2017 12:21 PM

WTI recently dipped below $50 per barrel for the first time in a month, erasing the strong September rally. It’s no coincidence that after two weeks of price declines, OPEC has tried to talk up […]

The “Amazon Effect” Is Coming to Oil Markets

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financialsense.com / By Irina Slav for Oilprice.com / 10/10/2017

While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field.

Much talk has revolved around how […]

A Desperate OPEC Asks US Shale For Help In Cutting Oil Output

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zerohedge.com / by Tyler Durden / Oct 10, 2017

While OPEC has been presenting an optimistic facade in recent months, repeating at every opportunity that the global oil market is “rebalancing” and demand is rising, the oil production cartel made a rare slip today when it addressed […]

China’s Oil Demand Is Far Ahead Of Last Year’s Pace

zerohedge.com / by Robert Rapier via OilPrice.com / Oct 5, 2017 12:25 PM

OPEC recently released its Monthly Oil Market Report which covers the global oil supply and demand picture through July.

OPEC crude oil production decreased by 79,000 BPD in August to average 32.8 million BPD. This marks the first OPEC production decline […]

WTI/RBOB Extend Gains After Biggest Gasoline Draw On Record

zerohedge.com / by Tyler Durden / Sep 12, 2017 4:38 PM

WTI/RBOB gained on the day after OPEC headlines but with disruptions still looming over much of the refining capacity in the Gulf Coast, today’s API data, showing the trend of Gasoline draw (the biggest ever) and Crude build continues, sparked further gains.

READ […]

NEW EASTERN ENERGY CARTEL: Replacement to the Dead Petro-Dollar

news.goldseek.com / By: Jim Willie CB, GoldenJackass.com / 24 August 2017

The Petro-Dollar is dead. It had served so well for over 40 years in maintaining the USDollar as global currency reserve, while keeping tight the controls on geopolitical power. The link between crude oil and the USDollar has been broken, painfully evident since 2016 […]

$20 Oil? Forget OPEC, China Controls Oil Prices

zerohedge.com / by Irina Slav via OilPrice.com / Aug 24, 2017 11:05 AM

U.S. shale has taken a lot of headline space recently as the biggest headwind for oil prices and the highest stumbling block for OPEC’s efforts to prop them up by cutting production. Yet, there may be another factor that could bring […]

The Single Biggest Bullish Catalyst For Oil

zerohedge.com / by Nick Cunningham via OilPrice.com / Aug 17, 2017 11:44 AM

One of the key objectives for OPEC is to bring down inventories, a goal that has been elusive this year. But if the oil futures curve is anything to go by, the oil market is showing signs of tightening.

Brent futures […]

World Equity Indexes Mostly Up; OPEC Meeting In Focu

wallstreetexaminer.com / by Jim Wyckoff / August 7, 2017

This is a syndicated repost courtesy of Money Morning. To view original,click here. Reposted with permission.

(Kitco News) – World stock markets were mostly firmer in overnight trading, following the gains posted on Wall Street Friday. Focus early this week is on a two-day OPEC meeting. […]

Oil Just Plunged To A $48 Handle After Survey Suggests OPEC Output Jumped In July

zerohedge.com / by Tyler Durden / Aug 1, 2017 11:21 AM

Extending losses from Goldman’s overnight report noting the minimal impact of Venezuelan sanctions, WTI crude just crashed below $49 on heavy volume after Bloomberg reports that a survey suggests that OPEC’s July oil output rose by 210K to 32.87mmb/d, led by growth in […]

Libya’s Oil King Won’t Be Stopped By OPEC

zerohedge.com / by Tsvetana Paraskova via OilPrice.com / Jul 24, 2017 12:31 PM

Conflict-torn Libya, divided between rival factions in the east and the west, recently reached 1 million bpd of crude oil output – for the first time since 2013.

The oil production recovery has put in the spotlight the chairman of Libya’s […]

World Marketplace Quieter As OPEC Meets, FOMC Set To Meet

wallstreetexaminer.com / by Jim Wyckoff via Money Morning / July 24, 2017

(Kitco News) – World stock markets were mostly weaker overnight. The very low volatility in global equity indexes continues. Such may continue to be the case until after the U.S. Labor Day holiday in early September.

Gold prices are firmer and hit […]

Progress in St. Petersburg

marctomarket.com / by Marc Chandler / July 24, 2017

Expectations going into the OPEC monitoring meeting in St. Petersburg were low. The OPEC agreement to reduce output appeared to be fraying. June output appeared to have increased in several countries, and private sector estimates suggest output rose further in July. Russia expressed reluctance to […]

One Way Or Another – Venezuela Will Send Oil Prices Up

zerohedge.com / by Nick Cunningham via OilPrice.com / Jul 19, 2017 9:43 AM

In a desperate bid to survive its economic meltdown, Venezuela is lobbying other OPEC members to agree to steeper oil production cuts, a move that would likely lead to higher oil prices.

Venezuelan officials have reached out to their counterparts in […]

The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

zerohedge.com / by Cyril Widdershoven via OilPrice.com / Jul 14, 2017 7:25 AM

OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines.

Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil […]

Gartman Covers Oil Short

zerohedge.com / by Tyler Durden / Jul 13, 2017 8:50 AM

Two days ago, when oil was plumbing its latest cycle lows, Goldman came out with a “contrarian” note in which it admitted that its bullish commodity outlook had been wrong, and cautioned that absent “shock and awe” from OPEC, oil could drop below $40, […]

OPEC Admits It Has A Problem: It Is Still Producing Too Much Oil

zerohedge.com / by Tyler Durden / Jul 12, 2017 7:41 AM

In its just released lastest market report for the month of July, OPEC admitted it has a problem: more than six months after the Vienna deal that was supposed to bring supply and demand in balance, the oil cartel confirmed it is pumping […]

WTI Tumbles Back To $43 Handle After Saudis Breach OPEC Agreement

zerohedge.com / by Tyler Durden / Jul 11, 2017 8:06 AM

Having v-shaped recovered yesterday after disappointing Russian comments (on no news whatsoever), crude prices are tumbling once again this mornig, WTI back to $43 handle, after Saudi Arabia told OPEC it pumped 10.07 million barrels a day in June, a person with knowledge […]

Maduro Thugs Storm Venezuela National Assembly, Beat Opposition Lawmakers, Default Risk Jumps

zerohedge.com / by Tyler Durden / Jul 6, 2017

Venezuela celebrated 206 years of independence in a manner uniquely befitting Latin America’s socialist paradise: A gang of armed Maduro supporters broke into the National Assembly and viciously assaulted opposition lawmakers, nearly killing one.

***

Here’s Reuters:

“The melee, which injured seven opposition politicians, […]

Venezuela’s Maduro Says Armed Group “Started A Coup”, Used Helicopter To Drop Grenades

zerohedge.com / by Tyler Durden / Jun 28, 2017

In an incident that is oddly reminiscent to the “failed coup” in Turkey from last June, late on Tuesday a rogue Venezuelan police helicopter strafed the Supreme Court and the interior ministry on Tuesday, in what President Nicolas Maduro called an attack by “terrorists seeking […]

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 […]