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Oil price tumbles after OPEC releases 2015 forecast

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“Almost all the news flow points to a weaker market,” said one oil analyst , Carsten Fritsch of Commerzbank in Frankfurt. “We We have had very bearish API data with large stock builds across the board, and also a very bearish Short-Term Energy Outlook from the EIA, with a sharp reduction in demand growth forecasts for next year.”.

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Oil Prices Running Out Of Reasons To Rally

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Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. percent in intraday trading on Monday, after a report at the end of last week showed another solid build in the US rig count, the tenth consecutive week that the oil industry added rigs back into the field.

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Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

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The first quote modifies a GEICO commercial describing a free-range chicken (If you’re a free range chicken, you roam free, that’s what you do), the second, the famous John Maynard Keynes quote about markets (The market can stay irrational longer than you can stay solvent), the third, another famous Keynes quote (In the long run, we’re all dead).

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Control over the transportation assets in this region together with vast gas reserves make Russia the key element of this new market.”. The land-based oil distribution network is smaller, but also important. from a market for Russian crude and natural gas (via LNG) to a global competitor. by Dalan McEndree for Oilprice.com.

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. Prices rebounded to $60 for a few months, before falling once again below $50.