$BNO

This tag is associated with 69 posts

Focused On The Wrong End Of Oil

By Jeffrey P. Snider The front end of the oil price complex continues to get all the attention because it seems to further the more optimistic narrative. It is the back end, however, that is most significant. The nearer maturities of the futures curve reflect more the funding environment than the fundamental view of oil and … Continue reading

China Struggles As Oil Losses Climb

By Michael Lelyveld China’s biggest oilfield is suffering huge losses as the government seeks to avoid layoffs despite prices that have dropped below production costs. On April 8, the official Xinhua news agency reported that the Daqing oilfield in northern Heilongjiang province lost over 5 billion yuan (U.S. $769 million) in the first two months … Continue reading

Russia Benefits From Crude Production Freeze Talks Despite Failure To Reach Deal

Rising oil prices ahead of the production freeze talks in Doha added $3.7 billion to the value of Russian output, according to Bloomberg based on data from the International Energy Agency. Saudi Arabia got a $3.3 billion boost. Even the countries not involved in the talks have benefited from the freeze fuss. The US got … Continue reading

Saudis Derail Oil Freeze Deal Over Regional Rivalry With Iran

The failure of the world’s leading oil producers to reach an agreement on capping production has been aggravated by the threat of more sparring between Saudi Arabia and Iran over market share. The talks failed after Saudi Arabia, Qatar and the United Arab Emirates said they wouldn’t agree to a deal unless Iran joined in. … Continue reading

Canada’s Oil Industry To See Biggest Investment Drop In 70 Yrs

Despite an insignificant rise this year, investment in Canada’s oil industry is expected to decline 62 percent from its 2014 peak due to falling crude prices, warns the Canadian Association of Petroleum Producers (CAPP). Oil and gas spending was expected to drop to $31 billion in 2016 from a record of $81 billion in 2014, … Continue reading

Commodities: Gold And Zinc Crush It In Q1, Energy Gets Smoked [Infographic]

By Jeff Desjardins, Visual Capitalist The start of 2016 has been a roller coaster for investors. Global markets had their worst ever start in the first trading days of the year, with the S&P 500 eventually shedding 10.5% by early February. Stocks have rebounded since then, but tension is still in the air with record longs on … Continue reading

Speculators Cut Bearish Bets On Oil

Crude prices have rebounded 50 percent since February. At the same time, since the beginning of February the US Commodity Futures Trading Commission (CFTC) has seen the biggest liquidation of short positions on record. Short positions on US benchmark WTI crude, or in other words, bets that prices will go down, have fallen by 131,617 contracts, … Continue reading

Only One Oil Fundamental Factor

By Jeffrey P. Snider, Alhambra Investment Partners The fundamentals for crude oil continue to be atrocious. Production remains relatively stable if slightly reduced, which is about the only factor in favor of oil prices since the February 11 low. On the other side of the ledger, you don’t hear as much about how it’s all oil … Continue reading

Scotland’s Economy To Be Hit By Oil Price Collapse, Says Thinktank

Institute for Fiscal Studies report suggests Scotland’s deficit will rise to £13bn, as SNP launches campaign for Holyrood election. Scotland’s deficit will jump to nearly £13bn by the end of this decade after the collapse in oil prices, according to the Institute for Fiscal Studies. The IFS released its updated assessment as Nicola Sturgeon, the … Continue reading

Russian Oil Industry To Attract Some $20.6 Billion Investment In 2016

Russian Deputy Energy Minister Kirill Molodtsov said that Russian oil sector is expected to attract investments worth 1.4 trillion rubles ($20.6 billion) in 2016. Russian oil sector is expected to attract investments worth 1.4 trillion rubles ($20.6 billion) in 2016, Russian Deputy Energy Minister Kirill Molodtsov said Tuesday. “We expect that the total volume of investments will be … Continue reading

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