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Tag Archives: Oil price

Surviving a downturn

EDITOR’S NOTE: Interviews for this article were done before Friday’s price drop. The oil price tumble of the past few months brought with it forecasts of doom and gloom from energy investors and on the opposite extreme, bullishness of drillers. The slide stems from worry about oversupply in the global market and signals from Saudi Arabia that the Organization of ...

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What $75 oil looks like

The oil price plummet of the past several weeks brought with it projections of reduced activity in 2015, but oil producers tout confidence in the Permian Basin’s prospects even as they wait to see how low prices will drop and how long prices will stay down. By Friday, the benchmark West Texas Intermediate crude price was $75.92, more than a ...

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Oil prices don’t dictate the value of oilfield service companies

Although oil and gas companies might be operating according to the whims of fluctuating prices, the value of oilfield service companies aren’t necessarily bound by oil prices. The recent and dramatic drop in the price of oil, which fell from $100 per barrel in August to around $80 in October, has many oil and gas service companies wondering if they ...

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U.S. import prices post largest decline in nine months

Dan Schwartz WASHINGTON (Reuters) – U.S. import prices recorded their biggest drop in nine months in August as a sharp decline in the cost of petroleum products eclipsed rising food prices, keeping imported inflation pressures subdued. The Labor Department said on Friday import prices fell 0.9 percent last month after slipping 0.3 percent in July. Economists polled by Reuters had ...

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U.S. overtakes Russia, Saudi Arabia in worldwide oil production

John Deede | Shale Plays Media Google+ Bank of America Corp. has announced that the United States has become the world’s biggest oil producer. Grant Smith from Bloomberg News reports: U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said ...

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OPEC ministers signal output to remain on hold

George Jahn | The Associated Press VIENNA (AP) — All is not well within OPEC as the oil cartel focuses on how much crude to pump for the rest of the year. Kurds in Iraq are defying the central government and selling their oil directly abroad. Nigeria is hurting due to shale oil production in the United States, its most ...

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Oil below $100; gas prices near peak, AAA says

The price of oil fell below $100 a barrel for the first time in three weeks Wednesday as reports showed U.S. economic growth stalled in the first quarter and oil supplies in the U.S. rose to record levels last week. Meanwhile, AAA said U.S. gasoline prices are near their springtime peak and drivers should be paying less at the pump ...

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Vanishing volatility signals oil market shift: Kemp

Reuters John Kemp oil volatility

(John Kemp is a Reuters market analyst. The views expressed are his own) By John Kemp (Reuters) – The oil market has rarely been so quiet. Benchmark Brent has traded in a narrow range of $5 either side of $110 per barrel since the summer of 2012. Price volatility has fallen to some of the lowest levels since crude futures markets ...

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Oil price rises on Nigeria supply woes, US growth

stock market

The price of oil rose Friday amid signs of stronger economic growth in the U.S. and possible disruptions to Nigerian crude exports. Benchmark U.S. crude for May delivery was up 20 cents to $101.48 a barrel at 0740 GMT in electronic trading on the New York Mercantile Exchange. The contract gained $1.02 to $101.28 on Thursday. Concerns are growing in ...

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