Oil Price

via Oil Price.com: Due to bad weather at its southern ports, Iraq’s crude oil exports dropped to their lowest level in seven months in November, despite the fact that after a year-long hiatus, the federal government resumed exports at a much reduced rate from the north in mid-November. According to a …

via Oil Price: The decision by the U.S. to grant waivers to eight countries, allowing them to continue to import oil from Iran, has helped ease the tension in the oil market. No longer are oil traders talking about $100 oil. Iran’s oil exports stood at 1.7 million barrels per day …

via Oil Price: Saudi Arabia all but threatened to drive up oil prices if the U.S. took any action to penalize it over the apparent killing of a Saudi journalist. The not-so-subtle threat was the first time in decades that Saudi Arabia threatened to restrict supply for such naked political reasons. …

via Oil Price.com: The shale industry is set to enjoy its best year, arguably in its history, but some drillers are not benefitting as much as expected because they locked themselves into hedges at lower prices. Shale drilling has historically been a loss-making proposition. The precipitous decline in output from shale …

via Oil Price.com: The U.S. shale boom and the massive Russian expansion of natural gas pipelines will make the United States and Russia the dominant spenders on oil, petroleum products, and natural gas pipelines through 2022, data and analytics company GlobalData says in a new report. The other big spenders …

via OILPRICE: Oil market participants and analysts have been focused on the front-month oil futures prices that rallied to levels last seen in November 2014, with Brent Crude breaking above $80 a barrel last week. Yet, over the past month, an even bigger rally has been taking place at the back …

via Oilprice: The rally in oil prices over the past year likely had more to do with higher demand rather than merely the supply taken off of the market by the OPEC/non-OPEC cuts. That suggests that as OPEC tries to formulate a strategy going forward, perhaps targeting a certain price level, …

via oil price : Western Canadian heavy crude’s price discount to WTI widened to the most in three years, at US$23 for the January contract and US$27 for the December contract, after Enbridge announced a new rationing of space in parts of its Mainline network, which is used to carry most …

via Oil Price.com : Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. Geopolitical …

via Oil Price : Oil prices rose by 1 percent on Wednesday morning and were set for the biggest third-quarter gain since 2004, as investors weighed the renewed talk of possible deeper OPEC cuts, along with the results of this week’s EIA inventory report. At 8:27am EST, WTI was topping the …

via Oil Price : Optimism, at first tentative and in the last week more pronounced, has been taking over oil markets. Short positions on WTI were at a three-month low as of Monday, according to Bloomberg, while long positions continued to rise. The last couple of weeks have seen some strong …

Via CNBC : After a brief drop in Saudi oil exports in April and May, June crude loadings appear to be back on the rise, according to tanker tracking firm ClipperData. That could spell trouble for the oil market, which is eager to see OPEC production cuts translate into fewer barrels …