Here’s Why Oil Prices Are Surging Today

oil drum
From Tyler Durden: Oil jumped this morning, with Brent rising 1%, trading above $56 after the International Energy Agency said OPEC had achieved record initial compliance of 90% with planned production cuts - it is unclear how much of this was self-reported and questionable - while demand grew faster than expected.
NYSE:USO February 10, 2017 10:22am

Some OPEC Members May Be Cheating On The Production Cut Deal Already

From Nick Cunningham: OPEC provide a shot in the arm for oil prices this week when S&P Global Platts reported a much higher than expected compliance rate for the month of June. So far, OPEC has achieved 91 percent of its promised production cuts, impressing many oil watchers who expected mutual antipathy and mistrust to get in the way of cooperation.
NYSE:USO February 9, 2017 9:02am

With OPEC Meetings Looming, Here’s Where Oil Production Cuts Stand

From Damir Kaletovic: OPEC will present its Monthly Oil Market Report on the 18th of January, at a time when OPEC and non-OPEC members are making their first production cuts in line with the 30th of November deal—the first cut deal in eight years.
NYSE:USO January 17, 2017 9:21am

Simple Math Proves The OPEC Deal Will Fall, Along With Oil Prices

From Todd Royal: The basic laws of supply and demand can easily cause the OPEC production cuts to not work, but there are other factors to also consider. These factors include U.S. shale production, political stability returning to Libya and Nigeria, the amount of oil sitting in storage and rising role of renewable energy.
NYSE:USO January 12, 2017 11:23am

OPEC Gains Evaporate As Oil Plunges Toward $50 Again

Oil prices were on the decline again on Thursday, as yesterday's Federal Reserve decision to boost interest rates continues to weigh on commodities.
NYSE:USO December 15, 2016 10:30am

OPEC Is Trying To Get Non-OPEC Nations To Cut Production Now

Image of oil drums
Following last week's landmark production cut deal among its member nations, OPEC is now attempting to get a large amount of other large oil producers to follow suit.
NYSE:USO December 5, 2016 10:50am

These Are The Winners And Losers Of The OPEC Deal

From Julianne Geiger: It’s no secret I’ve been one of the consistent naysayers about the OEPC deal. I was confident a deal wouldn’t be had, and that if they did manage to reach a deal—which seemed an impossibility given Iran/Saudi relations—it would have little to no effect on the supply glut.
NYSEA:USO December 2, 2016 6:15am

Leveraged Oil Plays Explode Higher As OPEC Deal Appears Imminent

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Leveraged bull oil ETFs surged in early trading Wednesday as headlines around the world indicated that OPEC oil ministers are unanimously in favor of a production cut.
NYSE:UCO November 30, 2016 6:55am

Oil Plunges 4% As OPEC Deal Falls Apart

From Tyler Durden: One day ahead of OPEC's much anticipated meeting in Vienna, oil has slid back under $46 on rising pessimism that an oil production cut deal, taken widely for granted as recently as last week, is not going to take place.
NYSE:USO November 29, 2016 9:06am

Oil Prices Plunge As OPEC Talks Break Down

From A power play by Saudi Arabia resulted in the cancellation of a meeting intended to steer the world’s oil exporters towards a production freeze, causing oil prices to tank on Friday.
NYSE:USO November 26, 2016 8:45am

Did OPEC Just Win The Oil War?

From JL Yastine: In 2014, Saudi Arabia and the rest of the cartel’s oil ministers lined up their weapons and fired a huge salvo.
NYSE:USO November 20, 2016 7:48am

Oil Plunges Once Again As OPEC Deal Hopes Fade

Image of oil derricks
From Tyler Durden: Oil plunged more than 1% in early trading on Monday, as a prominent energy forecaster significantly cut its probability for an OPEC production cap deal being completed.
NYSE:USO November 14, 2016 9:30am

OPEC Cut In Question As October Production Surges

Oil prices were plunging once again on Friday morning, as news of much higher OPEC oil production in October cast doubts over the prospects of a coordinated production cut this month.
NYSE:UCO November 11, 2016 10:12am

Oil Bounces As OPEC Reiterates Production Cap Goals

oil-drumsOil prices spiked more than 1% in early Monday trading, as OPEC renewed its resolve to limit production, but many still remain skeptical of the measure's effectiveness.
NYSE:USO November 7, 2016 7:25am

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