Oil in Global Economy Series

Oil in Global Economy Series

Oil in Global Economy Series: Number of active oil rigs in U.S. rises for 23rd consecutive week

Jun 26, 2017 07:21 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for 23 consecutive weeks, raising concerns that the U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now...

Oil in Global Economy Series

Oil in Global Economy Series: A major fallout of OPEC deal

Jun 23, 2017 11:03 am UTC| Commentary

Last year, in November OPEC countries, along with 11 participating non-OPEC countries including Russia agreed to reduce oil production by 1.76 million barrels per day, beginning this year. The initial deal was agreed for...

Oil in Global Economy Series

Oil in Global Economy Series: Watch US energy bonds to assess stress from lower oil price

Jun 22, 2017 08:01 am UTC| Commentary

The oil price has declined to its lowest level in seven months as the market remains concerned of a continued supply glut in the market. After bottoming in July, the oil production in the United States has recovered by 0.9...

Oil in Global Economy Series

FxWirePro: OPEC mulls over further production cut to raise interests of WTI futures contracts of mid-month tenors

Jun 21, 2017 12:49 pm UTC| Insights & Views

OPEC and non-OPEC oil producers compliance with a deal to cut global outputs have reached its highest in May since they agreed on the curbs last year, reaching 106 percent last month, a source familiar with the matter said...

Oil in Global Economy Series

Oil in Global Economy Series: Number of active oil rigs in U.S. rises for 22nd consecutive week

Jun 19, 2017 06:18 am UTC| Commentary

The U.S. oil producers have added rigs in their operations for 22 consecutive weeks, raising concerns that U.S. shale oil producers which were able to cut their production cost dramatically over the past years are now a...

Oil in Global Economy Series

Oil in Global Economy Series: Libyan oil output likely to rise to 1 million barrels by next month

Jun 19, 2017 04:53 am UTC| Commentary

The increasing production in the United States remains as one of the biggest hindrances to oil price recovery, however, an increased production within the OPEC, thanks to Libya and Nigeria also played its part in the...

Oil in Global Economy Series

Oil in Global Economy Series: IEA report confirms US production as biggest threat to oil price recovery

Jun 16, 2017 10:21 am UTC| Commentary

International Energy Agency (IEA), which monitors energy market for the OECD countries, released its report earlier this week and the report is not a good one for the oil bulls. While IEA cited many reasons for the...