Posts by: Phil Flynn

By SHAWN MCCARTHY – GLOBAL ENERGY REPORTER | OTTAWA — The Globe and Mail Oil traders and producers are bracing for further price declines as ministers from the fractious Organization of Petroleum Exporting Countries prepare to meet in Vienna against the backdrop of a glut in global markets. The OPEC session that starts Thursday is [...]

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New York (Platts) Crude futures settled lower Tuesday as discussions among oil nation officials in Vienna failed to yield a preliminary agreement ahead of this week’s OPEC summit. ICE January Brent settled down $1.35 at $78.33/b. Front-month NYMEX crude finished the day $1.69 lower at $74.09/b. NYMEX December ULSD settled down 7 points to $2.3948/gal. [...]

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By Moming Zhou | Bloomberg Crude futures slid after a meeting between nations supplying a third of the world’s oil failed to result in a pledge to curb output in the run-up to this week’s OPEC meeting. Venezuela, Saudi Arabia, Mexico and Russia said they plan to start quarterly monitoring of oil prices. Today’s talks in Vienna didn’t result in [...]

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A Cut Above. The Energy Report 11/25/14

On November 25, 2014 - 7:54 AM By

While it appears that OPEC indeed is going to get a deal on a production cut already the markets are questioning whether it is going to be enough. The talk is that OPEC as a cartel is going to cut production by 1 million barrels a day at their meeting November 27th. Non-OPEC producer Russia, [...]

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By Barani Krishnan | Reuters NEW YORK, Nov 24 (Reuters) – Crude prices pared Monday’s early losses as traders and investors speculated OPEC producers might surprise with an cut output above what market players expect when the producer group meets this week. A extension to Iran’s nuclear talks, which maintains Western sanctions preventing Tehran from [...]

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Oil futures slip ahead of OPEC meeting

On November 24, 2014 - 9:22 AM By

By William Watts | MarketWatch NEW YORK (MarketWatch) — Oil futures drifted lower in choppy trade Monday after the deadline for talks over Iran’s nuclear programs was extended and investors debated whether the Organization of the Petroleum Exporting Countries will move to alleviate a global supply glut by cutting production. Nymex WTI crude oil futures [...]

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Cut or Not to Cut. The Energy Report 11/24/14

On November 24, 2014 - 7:55 AM By

To cut, or not to cut, that is the question—whether ’tis Nobler in the cartel to suffer the slings and pains of outrageously low oil prices  to try to undermine the U.S. shale oil producer or to cut production and risk losing market share forever. For oil this week it is all about OPEC and [...]

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Falling Gas Prices Impact US Oil Extraction

On November 21, 2014 - 8:36 AM By

Kane Farabaugh | Voice of America CHICAGO— With the price of oil now less than $80 a barrel, motorists throughout the United States are benefiting from gas prices below $3 a gallon. However, the decreasing price of gas has a downside for the hydraulic fracturing industry in the United States. North Dakota’s economy is on [...]

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As OPEC is getting ready to meet next week in what will be their most important meeting in recent memory, it seems that global central bank actions may be doing some of the heavy lifting to support global oil demand expectations.  Not only do you have China pumping a reported 50 billion yuan or the [...]

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Fed Steam Ahead. The Energy Report 11/20/14

On November 20, 2014 - 10:06 AM By

The global economy is not the Feds problem, Oil prices railed into the Federal Open Market Committee (FOMC) minutes on concerns that the FED might be worried about the potential pitfalls of them exiting unconventional monetary policy while the rest of the global economy struggles. Yet oil then sold off as the FOMC clearly believes [...]

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By Lynn Doan With gasoline prices sinking to under $3 per gallon, Americans traveling by car this holiday season will have plenty of company on the road. Drivers will make up about 89.5 percent of holiday travelers this year, a gain of 0.1 percentage point from 2013, while air passengers will drop by the same [...]

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The Keystone vote failed to pass the Senate so President Obama is again free to not make a decision. The President has not made a decision on the Keystone pipeline proposal that has been waiting for an answer since 2008. Before I thought it was for political purposes but now I think it is because [...]

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