Oil

Oil Searching For A Bottom As Union Threatens More Walkouts

Thursday, February 12, 2015
By Paul Martin

By Colin Chilcoat OilPrice.com Wed, 11 February 2015 The strike at US refineries got a bit bigger over the weekend – all amid the most volatile, and now downward, price swings seen in the last six years. Investors have yet to lose hope in a sustainable rebound, but another prolonged fall may be looming... »

Deutsche Bank Warns, Energy Stock “Valuations Are Unsustainable” Unless Crude Hits $70 By 2H15

Wednesday, February 11, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 02/11/2015 We previously noted the extreme spike in S&P Energy sector stock valuations (and the fact that energy sector earnings will have to surge by 70% in order for this exuberant to be ‘discounted’ correctly). Now Deutsche Bank has run the numbers and warns that in order for S&P Energy... »

WTI Nears $47 Handle After Inventory Build Doubles Expectations & Production Hits Record High

Wednesday, February 11, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 02/11/2015 With inventories expected to rise 2.33 million barrels, crude oil inventories surged by 4.87 million barrels for the 5th week in a row (despite some talking heads looking for a draw). There were significant builds across the board in all products. As far as rig counts dropping means production... »

Halliburton To Cut Up To 6,500 Jobs As Crude Carnages To Crucial $50 Level

Tuesday, February 10, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 02/10/2015 But everything was supposed to be fixed? *HALLIBURTON WILL CUT 5,000-6,500 JOBS: HOUSTON BUSINESS JOURNAL WTI is tumbling down 5%, nearing the crucial $50 level… As The Houston Business Journal reports, Houston-based Halliburton Co. (NYSE: HAL) confirmed it will cut anywhere from 5,000 to nearly 6,500 jobs companywide because... »

Why Bank Of America Is Stumped: Despite “Lower Gas Prices” US Consumer Spending Has Plunged

Tuesday, February 10, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 02/10/2015 “According to the University of Michigan survey, consumers have not been this upbeat since January 2004, when the economy was booming. The natural outcome should be for consumers to splurge, hitting the malls and going out to restaurants. But much to our surprise, the data suggest otherwise.” - BofA... »

If You Listen Carefully, The Bankers Are Actually Telling Us What Is Going To Happen Next

Monday, February 9, 2015
By Paul Martin

By Michael Snyder TheEconomicCollapseBlog.com February 9th, 2015 re we on the verge of a major worldwide economic downturn? Well, if recent warnings from prominent bankers all over the world are to be believed, that may be precisely what we are facing in the months ahead. As you will read about below, the big banks... »

U.S. EMPIRE IN SERIOUS TROUBLE Due To The Worst Oil Productivity In The World

Monday, February 9, 2015
By Paul Martin

SilverDoctors.com February 9, 2015 If it wasn’t for the United States Triple “A” Credit Card Rating, its economy would have collapsed years ago. Why? It’s low 4,577 barrels per day of oil per drilling rig is not a sustainable EROI model. Basically, the U.S. economy could not sustain itself on its own energy production... »

Oil company SandRidge is going to shut down 75% of its rigs

Monday, February 9, 2015
By Paul Martin

ANNA DRIVER BusinessInsider.com Feb. 9,2015 HOUSTON (Reuters) – SandRidge Energy Inc, a U.S. oil and gas producer, plans to slash its rig count in Oklahoma and Kansas by about 75 percent to eight rigs, according to a document obtained by Reuters. The cuts, to be implemented through early April, may amount to what is... »

Why Citi Thinks Oil Is Going To $20

Monday, February 9, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 02/09/2015 The recent rally in crude prices looks more like a head-fake than a sustainable turning point, suggests Citi’s Ed Morse, noting that short-term market factors are more bearish, pointing to more price pressure for the next couple of months and beyond. While the shape of the oil price recovery... »

US BP oil workers join largest nationwide strike in 35 years

Sunday, February 8, 2015
By Paul Martin

RT.com February 08, 2015 Workers at BP refineries in Indiana and Ohio have joined the largest nationwide strike since 1980 after workplace safety negotiations between the United Steelworkers Union (USW) and fuel-making plants stalled, according to a USW press release. The USW said on Saturday that the US refinery workers’ strike is expanding to... »

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