Oil to see only slight recovery in 2016, Moody’s says.
The credit ratings and market analysis group said it had cut its U.S. oil price forecast to $50 per barrel in 2015 and to $52 per barrel in 2016.
View ArticleU.S. oil could return to 2008 low of $32 in Citigroup view
Crude has tumbled more than 30 percent since June amid signs that producers are maintaining output even after oil fell back into a bear market.
View ArticleOil inventories rise as refineries slow down
Refineries across the United States have been paring back operations for fall maintenance season, which sends more oil into storage tanks.
View ArticleOil drillers hunker down for more pain one year into crude crash
A year after oil sank into a bear market, the industry is still hunkering down for a long period of low prices, with Europe’s biggest producer seeing only the first glimpses of a recovery.
View ArticleIran pushes OPEC to curb production to raise prices
“No one is happy” with prices at current levels, Iran's oil minister told reporters in Tehran.
View ArticleMoody’s joins growing “lower for longer” oil slump consensus
Debt rating agency Moody's Investor Service said Monday it had adjusted its oil price forecast to reflect a more pessimistic, slower recovery in 2016 and 2017.
View ArticleKuwait budget down 60 percent on low oil prices, emir says
Emir Sheikh Sabah Al Ahmad Al Sabah's comments, coming as he addressed parliament as it began its new session, did not include any specifics about what cuts may be in the works.
View ArticleEnergy prices charge lower ahead of double data day from EIA
Happy Thanksgiving Eve! One hundred and forty-eight years to the day after Alfred Nobel patented dynamite, and the fuse has been lit for an explosion to the downside for the crude complex. After...
View ArticleBrent crude drops below $40 for first time in almost seven years
Brent crude fell 2.1 percent to $39.88 a barrel at 1:45 p.m. London time Tuesday, the lowest since Feb. 20, 2009.
View ArticleDriller becomes 18th to seek bankruptcy in Texas
The firm recently cut 15 employees and saw several managers resign.
View ArticleOil falls despite U.S. crude inventory decline
Oil prices jumped after U.S. data showed the nation’s stockpile of crude shrank by 3.6 million barrels.
View ArticleBrent crude falls to lowest since 2008
Oil prices have slumped to levels last seen during the global financial crisis as a result of OPEC’s strategy to defend market share against higher-cost producers.
View ArticleThe irony of ending the U.S. oil export ban is imports may rise
By allowing American oil to compete globally, the price for U.S. benchmark West Texas Intermediate crude is inching closer to the international marker Brent, which has traded at a premium for most of...
View ArticleMorningstar: The outlook is bleak for oil in 2016
The conclusion drawn by the group mirrors the pessimistic outlooks that have become the consensus at other analyst groups and at energy companies themselves.
View ArticleBrent crude tumbles nearly 5 percent
Oil slumped before weekly U.S. government data forecast to show stockpiles rose in the world’s biggest crude consumer.
View ArticleCheap oil buoys consumers, shakes up global governments
A recovery in oil prices depends on when supply and demand can get close to equilibrium. It could be a rocky ride.
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