Oil

It Gets Ugly in Houston

Friday, November 18, 2016
By Paul Martin

by Wolf Richter WolfStreet.com November 18, 2016 Auto Sales, Construction Get Totally Crushed. When the oil bust started in July 2014, it was just a blip. By 2015, bankruptcies were cascading through the oil patch. In early 2016, with WTI down over 70% from its pre-bust levels, it got even worse. But the price... »

The largest oil deposit ever found in America was just discovered in Texas

Wednesday, November 16, 2016
By Paul Martin

Akin Oyedele BusinessInsider.com Nov. 16, 2016 An estimated average of 20 billion barrels of oil and 1.6 billion barrels of natural gas liquids are available for the taking in the Wolfcamp shale, which is in the Midland Basin portion of Texas’ Permian Basin. Based on a West Texas Intermediate crude oil price of $45... »

Oil Fades After Iraq, Iran And Nigeria Oil Ministers All Decide To Skip OPEC Doha Meeting

Wednesday, November 16, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Nov 16, 2016 In yet another sign that behind the frequently blasted OPEC headlines meant to suggest a sense of OPEC unity yet which do nothing more than incite a short squeeze (as even Morgan Stanley has now admitted), there is far less cohesion, moments ago we learned that Nigeria’s... »

Will Trump Send The Price Of Oil Soaring?

Sunday, November 13, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Nov 13, 2016 Suddenly there is a ray of hope in OPEC’s dark world, and it comes courtesy of president-elect Donald Trump, who just may eliminate as much as 1 million barrels of OPEC oil output, or the cartel’s entire excess production, should he undo the deeply unpopular within GOP... »

Major Quake Strikes Cushing, Oklahoma – Near US’ Largest Oil Storage Facility

Monday, November 7, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Nov 6, 2016 Shortly after 1945 local time, a strong 5.0 magnitude earthquake struck some 50 mile northeast of Oklahmoa City. The nearby town of Cushing, home of America’s largest oil storage facility, experienced structural damage and lost power. No injuries have been reported. The Rest…HERE Share on Facebook »

END OF THE U.S. MAJOR OIL INDUSTRY ERA: Big Trouble At ExxonMobil

Friday, November 4, 2016
By Paul Martin

By: Steve St. Angelo, SRSrocco Report GoldSeek.com Friday, 4 November 2016 The era of the mighty U.S. major oil industry is coming to an end as the country’s largest petroleum company is in big trouble. While ExxonMobil has been the most profitable U.S. oil company in the past, it suffered its worst year on... »

Oil Slammed Lower After Saudi Threatens To Ramp Up Supply

Friday, November 4, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Nov 4, 2016 Follow OPEC’s blame-mongering statement earlier today -“observers should not be quick to judge or criticize” the organization – it appears mutiny is occurring within the cartel as OPEC sources report Saudi Arabia threatening to “steeply raise” output following Iran’s refusal to cap output. WTI is tumbling on... »

Oil Tanks After Biggest Inventory Build In 34-Year History

Wednesday, November 2, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Nov 2, 2016 Following last night’s massive inventory build report from API (biggest in 8 months), DOE piled on by confirming a 14.42mm barrel build – the biggest in the 34 year history of EIA data. Cushing saw a small build but Gasoline and Distillates saw drawdowns. Crude and RBOB... »

Gulf Stocks’ “Death Cross” Suggests Crude Slide Has Legs

Monday, October 31, 2016
By Paul Martin

by Tyler Durden ZeroHedge.com Oct 31, 2016 After 7 straight days up, Middle East stocks sank overnight on the heels of dashed hopes of an oil ‘freeze/cut’ deal. The end of the dead cat bounce coincided with the formation of a “death cross” in Bloomberg’s GCC 200 index which did not end well for... »

Thermodynamic Oil Collapse Interview: Why The Global Economy Will Disintegrate Rapidly

Sunday, October 23, 2016
By Paul Martin

By: Steve St. Angelo, SRSrocco Report GoldSeek.com Sunday, 23 October 2016 The world is heading towards a rapid disintegration of its economic and financial system due to a “Thermodynamic oil collapse.” I spoke with Dr. Louis Arnoux of nGeni, about the details of the thermodynamics of oil depletion and its impact on the global... »

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