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Overreaction? $4 gas and $100 oil?

Overreaction? $4 gas and $100 oil?

Monday oil prices and oil stocks soared on the bullish case that the surprise OPEC+ production cut will push gasoline to $4 a gallon and oil to $100 a barrel. Not everyone buys the bullish case–at least not after a few days of what these analysts call a...
OPEC+ is in crisis again–but since no one knows quite what the result is likely to be, we’ve had big swings in sentiment and prices in the oil market (and in banks, other commodities, and the inflation/deflation play) today

OPEC+ is in crisis again–but since no one knows quite what the result is likely to be, we’ve had big swings in sentiment and prices in the oil market (and in banks, other commodities, and the inflation/deflation play) today

The Organization of Petroleum Exporting Countries and its affiliated oil producers (OPEC+) abandoned their Monday meeting after days of tense talks failed to result in an agreement on a tentative deal to increase production, and even over how to measure production....
OPEC+ is in crisis again–but since no one knows quite what the result is likely to be, we’ve had big swings in sentiment and prices in the oil market (and in banks, other commodities, and the inflation/deflation play) today

Saudis surprise OPEC; oil soars by 5%

Today, January 5, Saudi Arabia shocked OPEC+ with a voluntary 1-million-barrel-per-day output cut. The announcement came after OPEC and Russia agreed to allow a 75,000 barrels a day increase in total production from Russia and Kazakhstan in February and March. On the...
Another round of higher oil prices headed our way

U.S. oil shale rig count continues to drop

The number of active oil rigs in the United States fell by 4 to 172, Baker Hughes reported today. That’s the lowest level since 2005 in the days before the U.S. oil shale boom. The news is likely to get worse for U.S. producers and oil service companies. The...