Oil Seen Stuck in $50 to $60 Range as Shale Blunts OPEC Action
The world should get used to oil prices between $50 and $60 a barrel as falling costs in America’s shale fields counteract OPEC’s renewed commitment to supply management.
IEA Changes View on Oil Glut, Sees Surplus Enduring in 2017
The surplus in global oil markets will last for longer than previously thought, persisting into late 2017 as demand growth slumps and supply proves resilient, the International Energy Agency reported.
Oil Trims Weekly Drop as US Production Falls Most Since 2013
Oil trimmed its biggest weekly decline in three months as investors weighed the largest drop in U.S. output since 2013 and a jump in payrolls against a smaller-than-expected stockpile decline.
Oil Rises From 10-Month High as US Stockpiles Seen Declining
Oil advanced from the highest close in more than 10 months before U.S. government data forecast to show crude stockpiles dropped for a third week, trimming a glut.
Oil Trades Near Four-Month High as US Declines, Iraq Ramps Up
Oil traded near a four-month high in London, swinging between gains and losses as Iraq said it raised output to a record in March while U.S. production fell.
IEA Says Oil Price May Have Bottomed
Oil prices may have passed their lowest point as shrinking supplies outside OPEC and disruptions inside the group erode the global surplus, the International Energy Agency said.
Oil Glut Will Persist Into 2017 as IEA Sees Prices Capped
The global oil glut will persist into 2017, limiting any chance of a price rebound in the short term as the surplus takes even longer to clear than previously estimated, according to the International Energy Agency.
IEA Raises Estimate of Surplus Oil Supply on Higher OPEC Output
The global oil surplus will be bigger than previously estimated in the first half, increasing the risk of further price losses, as OPEC members Iran and Iraq bolster production while demand growth slows, according to the International Energy Agency.
Global Oil Market Could 'Drown in Oversupply'
Global oil markets could “drown in oversupply,” sending prices even lower as demand growth slows and Iran revives exports with the end of sanctions, according to the International Energy Agency.
Oil Trades Near 12-Year Low as US Surplus Seen Worsening
Oil rose from the lowest close in more than 12 years in New York as volatility climbed amid speculation that prices have fallen too fast.