U.S. crude futures steadied above $45 a barrel after a three-session fall amid a firmer dollar and well supplied market.» Read More
Matthew Hegarty, Analyst at Pinnacle International, compares the performances of India and Indonesia amid plunging oil prices.
SINGAPORE, Jan 12- Global oil prices extended their slide on Monday as Goldman Sachs lowered its short-term price outlook, while refineries in Ohio and Pennsylvania were hit by fires over the weekend, curtailing demand for crude in the U.S. Analysts at Goldman Sachs lowered their three-month price forecast for Brent to $42 a barrel from $80.
Scott Darling, Regional Head of Oil & Gas Research at J.P. Morgan, says the ongoing rout in oil prices could lead to a "multi-year capex cutting period" in the oil services sector.
Juerg Kiener, MD & CIO of Swiss Asia Capital, outlines the market factors that will compress oil prices further.
SINGAPORE, Jan 12- Global oil prices extended their slide on Monday weighed by weakening demand in Europe and Asia, while refineries in Philadelphia and Ohio were hit hard by fires over the weekend, curtailing demand for crude in the U.S. Refinery disruptions in Philadelphia and Ohio threaten to add to a growing glut of crude by reducing demand from two sizeable...
Mikio Kumada, Executive Director & Global Strategist at LGT Capital Partners, expects oil prices to bottom around $45 a barrel, but says that will depend on whether the euro zone can fix its growth issues.
Oil slumped 5 percent to near six-year lows on Monday after Goldman Sachs slashed its short-term price forecasts.
Jay Richards, Commodity Analyst at Just Spreads, says oil prices could test $35 a barrel - lows hit during the 2008-09 financial crisis - by the end of February or March.
RIYADH, Jan 11- Venezuelan President Nicolas Maduro met Saudi Arabia's Crown Prince Salman in Riyadh on Sunday as part of a diplomatic tour of OPEC members to discuss falling oil prices, which have hit its economy hard. Despite growing concern from Venezuela and other OPEC members such as Iran, OPEC delegates have said as recently as last week that the group's...
President Nicholas Maduro is on a tour of fellow OPEC countries to lobby for higher oil prices, which hit new lows last week below $50 per barrel, nearly half of what they were back in June 2014. The plunge in crude prices has pummelled the public finances of Iran and Venezuela, whose economies rely heavily on oil exports. Earlier on Saturday, Iranian President...
A twist of fate has made slumping gas prices fuel a discussion once thought to be anathema in a Republican-led Congress: higher gas taxes.
What is Sen. Bob Corker thinking — his first Republican message is: Raise the federal gasoline tax?
The oil industry is about to face a rude awakening when it comes to jobs, The Schork Report's editor warned Friday.
CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories. The college football championship is Monday, and earnings begin in earnest, next week. Retail sales will also be released next week.
As oil continues to decline, what impact will be seen in the energy industry to workers and production, with Patrick Jankowski, Greater Houston Partnership, and Stephen Schork, The Schork Report.
CNBC's Jackie DeAngelis reports oil continued to slide this week.
Oil traders are eyeing comments out of OPEC in regards to supply. CNBC's Jackie DeAngelis has the details.
HOUSTON, Jan 9- New oil and gas well permits issued across the United States rose slightly in December and surged 72 percent in Colorado and Wyoming after falling sharply in November on tumbling crude prices. New permits plunged nearly 40 percent in November compared to October, signaling a potential slowdown in the shale oil and gas boom that brought the United...
*Brent breaks below $49, US crude under $48; low since April 2009. Benchmark Brent crude broke below $49 a barrel but returned to above the $50 support level it had seen earlier in the week after oil services firm Baker Hughes reported the largest drop in 24 years in U.S. drilling rigs. "In my opinion we have not stabilized out yet, but the rig data and some short-covering...
BRENT CRUDE PARES LOSSES AFTER BAKER HUGHES REPORT SHOWING DROP IN U.S.