Tag Archives: oil overproduction

Oil Prices Could Be Lower For Longer

The ECOreport reposts an analysis of market conditions, Oil prices could be lower for longer

Originally Posted on Oilprice.com

By Nick Cunningham

Oil prices have cratered in recent weeks, dipping to their lowest levels in more than seven months and any sense of optimism has almost entirely disappeared. All signs point to a period of “lower for longer” for oil prices, a refrain that is all too familiar to those in the industry.

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Oil Price Declines After Export Ban Lifted

The ECOreport reposts news that the US Oil Price Declines After Export Ban Lifted, only 5% but ….

Originally Published on Oilprice.com

By Charles Kennedy of Oilprice.com

Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before, when the ban was still in place.

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Are Oil Prices Reaching The Bottom?

As the price of oil continues to decline, they forcing companies to cut back & will eventually put a floor on prices. Are Oil Prices Reaching the Bottom?

Originally Published on Oilprce.com

By Nick Cunningham

A flood of bearish news has pushed down oil prices to their lowest levels in months, with WTI nearing $45 per barrel and Brent flirting with sub-$50 territory.

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Saudi Arabia Continues To Turn Screws On U.S. Shale

Taking Away Market Share As It Ratches Up Production

Originally Published on Oilprice.com

By James Stafford

According to OPEC’s latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month’s total of 10.29 million barrels. That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. Saudi Arabia has increased production by 700,000 barrels per day since the fourth quarter of 2014 in an effort maintain market share. The resulting crash in oil prices is forcing some production out of the market, and Saudi Arabia intends for the brunt of that to be borne by others.

Continue reading Saudi Arabia Continues To Turn Screws On U.S. Shale