Oil

Baker Hughes Cuts 17% Of Workforce As Oil Slump Ripples Through Economy

Tuesday, April 21, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 04/21/2015 Baker Hughes has increased the number of jobs it plans to cut from 7,000 to 10,500 and will close 140 facilities worldwide citing a need to “reduce the cost base and resize footprint” in the face of challenging market conditions. Meanwhile, JPM reminds Richard Fisher that “the... »

OPEC Says US Oil Boom Will End This Year

Monday, April 20, 2015
By Paul Martin

By Andy Tully OilPrice.com Sun, 19 April 2015 OPEC says the demand for oil – its oil – will rise during 2015 because the cartel is winning its price war against US shale producers by driving them out of business. “Higher global refinery runs, driven by increased seasonal demand, along with the improvement... »

The Chilling Thing Blackstone Said about the Oil Bust

Monday, April 20, 2015
By Paul Martin

by Wolf Richter WolfStreet.com April 19, 2015 Regardless of how troubled oil and gas companies are, “if the assets are good, someone will own them,” explained David Foley, senior managing director of Blackstone Energy Partners. He expected companies to buckle under the load of junk debt and kick off a long series of bankruptcies... »

The Next Financial Tsunami Just Began in Texas

Saturday, April 18, 2015
By Paul Martin

F. William Engdahl Journal-Neo.org 17.04.2015 he last financial Tsunami was a doozer that almost destroyed the global financial system. It was the collapse of the Wall Street Mortgage Backed Securities bubble in March 2007. The results of that collapse are still very much with the world today. Never in the one hundred some years... »

US Rig Count Drops For Record 19th Week In A Row

Friday, April 17, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 04/17/2015 Rig counts fell for a record 19th week in a row. Total rigs dropped 34 to 954 and oil rigs dropped 26 to 374. This means the total rig count drop is now greater than 50% – the fastest drop since 1986. Crude prices had slid into the rig... »

BAKKEN COLLAPSE HAS BEGUN

Friday, April 17, 2015
By Paul Martin

James Quinn TheBurningPlatform.com 17th April 2015 Here is a chart from the good old days of late 2013. Bakken oil production was soaring past 1 million barrels per day on their way to a peak of 1.33 million barrels per day in March of 2015. It’s amazing what junk bond debt and $100 a... »

Is Saudi Arabia Setting The World Up For Major Oil Price Spike?

Friday, April 17, 2015
By Paul Martin

by Nick Cunningham via OilPrice.com ZeroHedge.com 04/17/2015 In order to maintain a grip on market share by pushing U.S. shale producers out of the market, Saudi Arabia (and OPEC) is willing to use up its spare capacity. That could lead to a price spike. Saudi Arabia produced 10.3 million barrels per day in the... »

X22 Report:Countries Around The World Are Now Dumping The Petrodollar

Friday, April 17, 2015
By Paul Martin

IMF does not foresee Greece leaving the Euro zone. More than 100,000 people laid off in oil industry. Bankruptcies and Foreclosures skyrocket. Japan is the largest US debt holder. As oil prices decrease, countries are now dumping the petrodollar. TSA is now getting weapons, DHS orders 62 millions rounds of ammo. Ukraine killing those... »

The Collapse Of The Petrodollar: Oil Exporters Are Dumping US Assets At A Record Pace

Thursday, April 16, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 04/15/2015 Back in November we chronicled the (quiet) death of the Petrodollar, the system that has buttressed USD hegemony for decades by ensuring that oil producers recycled their dollar proceeds into still more USD assets creating a very convenient (if your printing press mints dollars) self-fulfilling prophecy that has effectively... »

Total Rig Count Decline Fastest Since 1986 As Weekly Rig Count Drop Re-Accelerates

Friday, April 10, 2015
By Paul Martin

by Tyler Durden ZeroHedge.com 04/10/2015 With crude production and inventories hitting record highs this week, it is likely no surprise that rig counts continued to decline - falling 40 to 988 total rigs (and down 42 to 760 oil rigs). This is the 18th week in a row of total rig count declines –... »

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