Oil Glut

This tag is associated with 18 posts

Are Central Banks Running The Oil Market Or Just The World?

By David Haggith, The Great Recession Blog The question begs for conspiracy theories to satisfy it, but one might more aptly say that central banks beg for conspiracy theories to explain them, since they operate in the shadows while being given charge of all the financial systems of all the world’s greatest economies. Central bankers have the unchaperoned power … Continue reading

Oil Producers Fail To Agree On Deal To Freeze Output After Saudi Arabia-Iran Standoff

The world’s major oil producing nations failed to strike an agreement on Sunday night to freeze production, saying they needed more time to agree a deal to try to buoy the price of oil. What producers had hoped would be the first deal in 15 years ran into difficulty after Saudi Arabia – the largest … Continue reading

Oil Supply Glut Leads To Massive Tanker Traffic Jam: “Would Stretch For 25 Miles”

By Mac Slavo While oil prices have jumped about 50% in recent weeks, there appears to be no real reason for the move other than pure speculation and billion-dollar market cash infusions from unknown plunge protection teams. But as the mainstream media continues to tout non-existent reduction agreements between oil producing nations, the following evidence … Continue reading

Perfect Storm For Oil Started On Schedule And Continues To Build

By David Haggith, The Great Recession Blog The perfect storm I predicted against the price of oil in the Ides of March has not fully developed, but all the forces I spoke of are continuing to build. The balmy days that prevailed for oil prices in early March have gone away, replaced by a downdraft that is once again suppressing prices … Continue reading

OPEC And Russia Oil Production Freeze Is Meaningless Gesture, IEA Says

A deal among some OPEC producers and Russia to freeze production is perhaps “meaningless” as Saudi Arabia is the only country with the ability to increase output, according to a senior International Energy Agency (IEA) executive. Brent crude futures are up more than 50% from a 12-year low near $27 a barrel hit early this … Continue reading

Sector Snapshot: Will The Energy Surge Continue?

By Joseph Y. Calhoun, Alhambra Investment Partners The last month has seen a shift in the fortunes of energy stocks with the sector leading the pack with a return over 11%. Will it last? That probably depends more on the direction of the US dollar than it does any of the alleged production agreements that get … Continue reading

Irresistible Iran: Europe, Asia Line Up To Invest

By James Eugene Foreign investors and nations have been actively exploring business and investment opportunities with Iran after economic sanctions were lifted from the Middle Eastern nation in January. Asia Over the past few months, there has been a sharp increase in the number of Asian countries that have ratified investment agreements with Iran. Japan managed to … Continue reading

The Coming Collapse Of Saudi Arabia

By Nick Giambruno, Casey Research They met in secret to plan a devastating attack… Two powerful men, colluding at a palace in the Middle East. In September 2014, U.S. Secretary of State John Kerry flew to Saudi Arabia. He was there to meet with King Abdullah, the country’s ruler and one of the richest men … Continue reading

The Perfect Storm In Oil Prices Will Hit In The Ides Of March

By David Haggith, The Great Recession Blog While some business / economic publications, like NewsMax are saying that, “Oil is pulling away from the market’s biggest storm in seven years,” I say, “Don’t believe it.” Not for one second. The real storm begins near the middle of March. Because people saw that the price of oil rose … Continue reading

Sheen On The Oil Slick Getting Darker

By David Haggith, The Great Recession Blog Last week, I wrote that the day would come soon when oil prices would take another nasty dive because there is nowhere left to store oil, causing the spot price for immediately delivery to dive toward the zero bound. This week we see how close that day is … Continue reading

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