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Oil and Gas Oil and Gas Storage


  • Regardless of whether a massive global oil storage trade is rapidly unwound, world oil production has been rising much faster than consumption, feeding an unprecedented global glut on the back of booming U.S. oil output and a Saudi-led decision by OPEC to maintain high output to defend market share. Analysts from Citi said on Tuesday that given OPEC was widely...

  • Why the price of crude oil will remain stagnant Thursday, 16 Apr 2015 | 11:24 PM ET
    Why the price of crude oil will remain stagnant

    Michael Yoshikami, founder & CEO of Destination Wealth Management, expects oil that was previously kept in storage to hit the market over the next 45-90 days thereby keeping prices low.

  • Goldman: Oil prices must 'stay low for longer' Tuesday, 7 Apr 2015 | 9:56 AM ET
    Pipelines and oil storage tanks in Cushing, Okla.

    U.S. oil inventory and capex falls may boost prices modestly near term, but production growth is still too strong for substantial gains, Goldman said.

  • How should Yellen address a strong dollar? Monday, 16 Mar 2015 | 5:50 AM ET
    How should Yellen address a strong dollar?

    Alan Knuckman, chief options strategist at Bulls-Eye Options, talks about the upcoming Federal Reserve meeting, the strong dollar and the gold market.

  • How low can crude go? Friday, 13 Mar 2015 | 7:32 AM ET
    How low can crude go?

    Edward Morse, Citi commodities research, discusses what's driving oil price lower as the commodity wanders further into bear territory.

  • Canada: Even the newest oil tank cars are outdated Wednesday, 11 Mar 2015 | 7:33 PM ET

    The Canadian government unveiled tougher new proposed oil tank car standards.

  • Goldman's Gary Cohn: Beware $30 oil Wednesday, 11 Mar 2015 | 12:09 PM ET
    Gary Cohn, Goldman Sachs

    Goldman Sachs President Gary Cohn tells CNBC he is concerned about the short-term window for oil and said crude prices could fall to $30 a barrel.

  • Saudi Arabia expects oil price to stabilize Wednesday, 4 Mar 2015 | 9:03 AM ET
    Saudi Arabian Oil Minister Ali al-Naimi

    Saudi Arabia's oil minister said he expected oil prices, which hit a near six-year low in January, to stabilize, signalling cautious optimism.

  • Are oil producers running out of closet space? Wednesday, 25 Feb 2015 | 5:51 PM ET
    Oil tanks and pump jacks are seen in an oil field near Bakersfield, Calif.

    Oil supply running ahead of demand hasn't just pressured prices, it's also filling up storage space, potentially pushing crude toward another leg down.

  • Why rig cuts won't save oil: Goldman Tuesday, 10 Feb 2015 | 11:44 PM ET
    Idled oil well pump jacks sit in the yard at Wood Energy Inc. in Woodlawn, Ill, Jan. 20, 2015.

    The sharp drop in U.S. oil rig counts has helped lift crude prices off their lows, but it won't slow production or alleviate oversupply, Goldman said.

  • IEA: Shale is a game-changer Tuesday, 10 Feb 2015 | 11:20 AM ET
    IEA: Shale is a game-changer

    The International Energy Agency (IEA) has released a warning saying that the oil prices may continue to fall, as crude oil stocks increase. Maria van der Hoeven, executive director at IEA, discusses the findings, saying that the "future market will never be the same" as before.

  • Has oil hit bottom? Gartman says no Tuesday, 10 Feb 2015 | 5:50 AM ET
    Has oil hit bottom? Gartman says no

    Has the oil price finally hit a bottom? Dennis Gartman, founder and editor of the Gartman Letter, explains why it could fall to as low as $20 per barrel.

  • Is this oil rally the real deal? Tuesday, 3 Feb 2015 | 11:33 PM ET
    A worker inspects valves and pipes at an oil gathering station in Russia.

    Oil prices have rallied off post-crisis lows, possibly marking the rout's bottom as producers' cutbacks begin pinching supply, some analysts said.

  • We haven't seen the worst in oil yet: Expert Tuesday, 3 Feb 2015 | 3:48 PM ET
    A worker inspects valves and pipes at an oil gathering station in Russia.

    A global oversupply in oil and lack of storage make it very likely that oil will slide into the $30s, Citi's Ed Morse told CNBC.

  • Hedge funds may be back in oil: Ex-Shell Oil chief Tuesday, 3 Feb 2015 | 9:11 AM ET
    Idled oil well pump jacks sit in the yard at Wood Energy Inc. in Woodlawn, Ill, Jan. 20, 2015.

    Hedge fund buying may be partly behind the recent rebound in battered oil prices, former Shell Oil President John Hofmeister tells CNBC.

  • Where is global oil money going? To health care Saturday, 31 Jan 2015 | 11:00 AM ET
    A gas flare is seen at an oil well site outside Williston, N.D.

    Oil prices are in the midst of a prolonged slump, squeezing bottom lines everywhere. How do sovereign wealth funds cope?

  • Oil traders to store millions of barrels at sea Tuesday, 13 Jan 2015 | 6:24 PM ET
    Oil tanker at the Port of Long Beach, Calif.

    Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea, to take advantage of lower prices.

  • Oil prices near 6-year lows: Analyst Tuesday, 13 Jan 2015 | 11:00 AM ET
    Oil prices near 6-year lows: Analyst

    The oil price is nearing a 6-year low. Richard Mallinson, geopolitical analyst at Energy Aspects, says markets are looking for "a turning point" in oil production and it will end up being non-OPEC countries that cut supplies.

  • China is stocking up on oil Tuesday, 13 Jan 2015 | 4:40 AM ET
    China is stocking up on oil

    Gareth Lewis-Davies, senior oil strategist at BNP Paribas, says that China is building up a strategic stock of oil, and that low prices provide a "good opportunity to dip into the market and accelerate purchases."

  • So long sacred cow! Gas tax builds momentum Saturday, 10 Jan 2015 | 11:03 AM ET
    The gas prices are advertised outside the Costco store in Westminster, Colorado, December 2, 2014.

    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.