OPEC Deal Crumbling? Saudi Arabia Tiring Of “Free Riders”

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From Gregory Brew: From casual observation, one might be forgiven for referring to the OPEC production cut in place since November 2016 as the “Saudi production cut.”
NYSE:USO March 24, 2017 7:05am

Oil’s Renewed Bear Market Doesn’t Bode Well For Stocks

oil-derrick
From Sean Brodrick: Most investors hope this market correction ends sooner rather than later. I hope that, too. Now brace yourself for some bad news: Oil price action is telling us not to get our hopes up. Not at all.
NYSE:SPY March 23, 2017 6:54am

Near-Record Oil Inventories Remain A Persistent Headwind For Crude Prices

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From Matt Smith: Crude headed lower on Wednesday after a solid build to crude inventories from the weekly EIA inventory report. As U.S. inventories climb to a new record high, crude is having a tough time believing that the market is re-balancing. Hark, here are five things to consider in oil markets today.
NYSE:USO

Bullish Oil Funds Hammered As Crude Suffers Another Big Loss

Image of an oil derrick with blue sky
From Tyler Durden: After a sizable build in crude and draw in gasoline overnight from API, WTI and RBOB are lower (legged down on Libya production news).
NYSE:UCO March 22, 2017 11:13am

Oil Prices Plummet Again, As U.S. Inventories Build

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From Julianne Geiger: The American Petroleum Institute (API) reported a build of 4.529 million barrels in United States crude oil inventories against expert predictions that domestic supplies would see only a 2-million-barrel build.
NYSE:USO

Oil Faces More Price Risk, As Speculators Dump Overly Bullish Bets

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From Nick Cunningham: Last week, after WTI dipped to $48, it seemed to firm up a bit on assurances from OPEC regarding compliance with its cuts, and a better-than-expected report from the EIA showing a slight drawdown in crude oil inventories also provided a boost to oil prices.
NYSE:USO March 21, 2017 6:29am

Turning Point In Oil Markets Could Mean A 45% Surge In Oil Prices

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From Nawar Alsaadi: Often the most important turning points in markets, and in this case the oil market, happen with a whimper rather than a bang.
NYSE:USO March 20, 2017 6:21am

Traders Place Near-Record Bets Against Crude Oil

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From Tyler Durden: During a week that saw WTI crude prices erase all post-OPEC-production-cut-deal gains, after the Saudis admitted 'cheating' (but rapidly back-pedalled), oil speculators added almost 80,000 contracts to their short positions - the 2nd most in 34 years.
NYSE:USO March 19, 2017 8:07am

Here’s What Kept Oil Prices Low This Week

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From Matt Smith: It was quadruple witching day in the markets Friday, and accordingly, oil prices were scared stiff, hardly budging.
NYSE:USO March 18, 2017 7:14am

Wall Street Is Inexplicably Still Bullish On Oil

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From Nick Cunningham: Oil prices have given up some of the gains achieved since the OPEC deal was agreed to in late November, and confidence in the buoyancy of crude prices is starting to falter.
NYSE:USO March 17, 2017 10:27am

Traders Are Betting On Further Downside For Oil & Gas Producers

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Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out continued weakness among energy producers amid the recent oil meltdown, along with big inflows into a large dividend-focused fund.
NYSE:XOP March 16, 2017 1:10pm

U.S. Shale Continues To Threaten OPEC’s Dominance

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From Tsvetana Paraskova: The U.S. shale cowboys are back on their horses and leading a strong recovery in the oil patch that is not expected to falter even as WTI prices dropped last week below $50 per barrel for the first time in more than two months.
NYSE:USO

Oil Finally Bounces A Bit, As U.S. Crude Inventories Show Temporary Pullback

Image of an oil derrick with blue sky
From Julianne Geiger: The American Petroleum Institute (API) reported a surprise draw of 531,000 barrels in United States crude oil inventories against expert predictions that domestic supplies would see a small 3-million-barrel build, instilling hopes in the minds of weary oil traders that OPEC’s production cuts are not being entirely undone by U.S. shale drillers.
NYSE:USO March 15, 2017 10:55am

Oil Prices Tumble Again, As Saudi Production Ramps Up

Image of oil drums
From Tyler Durden: Just as WTI was trying to record its first increase in 6 days, the latest, March, OPEC monthly report was released which revealed something surprising: while secondary sources claimed that Saudi Arabia production declined by 68kbpd to 9.797mmbpd, according to Saudi's own numbers, the kingdom ramped up production in February by a whopping 263kpb, back over 10 million barrels per day.
NYSE:UCO March 14, 2017 9:32am

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