Currently viewing the tag: "Phil Flynn"

Why do you build us up with oil cuts baby, just to let us down and mess us around. And then worst of all, you don’t extend production cuts when you say you will, but supply will fall still. Shale needs you to keep on drilling, we have known that from the start. So cut […]

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[Daniel J. Graeber. UPI] The likelihood that parties to an OPEC-led effort to balance the market with production cuts stand pat on output left oil prices in the red early Thursday. Ministers assigned to a joint committee monitoring an agreement to sideline 1.8 million barrels per day to balance an oversupplied market left a meeting […]

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Is it time to play it safe? The Saudi oil minister Khalid Al-Falih said the safe bet coming out of the OPEC meeting today is a 9 month extension of the current 1.8 million barrels a day of OPEC and non-OPEC production cuts, yet the safe bet might not wow oil traders. Talk of an […]

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Getting Gassed Up! [PRICE Links Video]

On May 24, 2017 - 1:50 PM By

Live with Patrick Dehaan Of Gas Buddy. Senior Analyst Phil Flynn discusses this year’s Annual Travel Study, gas prices, and the outlook for the summer driving season with Senior Petroleum Analyst Patrick Dehaan. 82% of people polled plan one driving trip this summer and 70% are planning two! Meanwhile headed into the holiday weekend, gas […]

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[Catherine Traywick, Bloomberg] President Donald Trump has proposed selling off more than half of the U.S. emergency oil stockpile, potentially putting more crude on the global market, even as OPEC works to prop up prices. A budget proposal released Tuesday includes a plan to sell 270 million barrels of oil from the Strategic Petroleum Reserve […]

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OPEC is getting ready to have a big party in Vienna as they hammer out an extension of the current OPEC agreement. While there has been some last minute negotiating by some players like Iraq, it is likely the deal will be extended by nine months. The Wall Street Journal is reporting the, “Ecuadorean Energy […]

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[Myra Saefong, MarketWatch] 2018 budget proposal includes 10-year sale of 270 million barrels of reserve oil. At a time when major oil producers have been struggling to ease a global glut of crude supplies, the Trump administration has proposed the sale of nearly half of the oil from the U.S. Strategic Petroleum Reserve under its […]

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Oil prices came off the year high after a terror attack in England and as President Donald Trump continues to make history on his Middle East trip. First, President Trump cut a slew of business deals with Saudi Arabia and then he opened the door with a peace plan in Israel when he went to […]

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[Ship & Bunker] “I wouldn’t be surprised if the do something to wow the market.” Phil Flynn, Senior Analyst, PRICE Futures Group. Read Article: https://shipandbunker.com/news/world/873390-oil-prices-rise-as-talk-of-longer-deeper-cutback-consensus-grows

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Oil Futures Gain on OPEC Optimism

On May 22, 2017 - 11:16 AM By

[George Orwel, DTN Energy Reporter] New York Mercantile Exchange spot-month oil futures and Brent crude oil futures on the IntercontinentalExchange posted one-month highs on Monday morning, boosted by a weaker dollar and optimism ahead of a summit by the Organization of Petroleum Exporting Countries Thursday (5/25) that is expected to ratify their commitment to prolong […]

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Get on the OPEC/non-OPEC bandwagon! All other OPEC members are on board for the extension of production cuts leading to speculation that even a bigger cut might be in the works. Saudi Arabia’s energy minister, Khalid A. Al-Falih, said all producers have agreed extending cuts by another nine months until global supply is back to […]

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Crude oil prices are playing the geo-political gyration game. Events in Brazil, Iran, Saudi Arabia, Venezuela and the United States have oil prices and traders trying to price in risk in a rapidly changing political world. Calls for impeachments, changing political relationships, elections, OPEC meetings, the list goes on and on. The world could look […]

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