Why $45 Is The Correct Price For Oil

Image of oil derricks
From Art Berman: WTI oil prices plunged to almost $45 per barrel last week (Figure 1). That was a downward adjustment to where prices should be based on supply, demand and inventory fundamentals.
NYSE:USO May 8, 2017 7:46am

Analyst: Oil Could Drop Below $30 Per Barrel Again

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From Brian Noble: Perma bears and perma bulls share one thing in common: they both can enjoy their Andy Warhol-inspired 15 minutes on the stage and believe at the end of their careers that they made a difference.
NYSE:USO May 7, 2017 6:41am

Here’s Why Oil Prices Plunged This Week

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From SCS OTC Corp: We’re viewing this week’s flat price damage as a function of bullish frustrations and momentum chasing rather than new bearish fundamental revelations.
NYSE:USO May 6, 2017 7:13am

Commodities Are Getting Crushed, More Downside Ahead?

From Corey Rosenbloom: Just how low can Gold and Oil go during the recent commodity crush lower?
NYSE:USO May 5, 2017 6:21am

Crude Oil Crashes To 9-Month Lows, OPEC Deal Gains Evaporate

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From Tyler Durden: "Someone's liquidating," warns one veteran energy trader, as the sudden heavy volume surge to the downside in WTI crude futures smashes oil prices back to the lowest since August 2016.
NYSE:USO May 4, 2017 4:26pm

Kuwait Predicts $80 Oil By 2020

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From Tsvetana Paraskova: A number of oil executives, analysts, and international agencies have been warning that the oil price crash and resulting slashed investments across the board would lead to a much tighter oil market within the next 4-5 years.

Bullish API Data Buoys Crude Oil Prices — For Now

Image of an oil derrick with blue sky
From Julianne Geiger: The American Petroleum Institute (API) reported a healthy draw of 4.2 million barrels in United States crude oil inventories, compared to analyst expectations that markets would see a bit of relief with a crude oil draw of 2.2 million barrels for the week ending April 28.
NYSE:USO May 3, 2017 6:34am

Oil Bears Are Firmly Back In Control

From Nick Cunningham: The oil bears are gaining leverage over the bulls as confidence in the stability of crude prices continues to wane.
NYSE:USO May 2, 2017 6:18am

OPEC’s Production Cut Extension May Wind Up Shorter Than Expected

From Irina Slav: OPEC could extend its crude oil production cut agreement by less than six months – the period that is widely assumed to be the logical continuation of the initial deal, which will be in force until June 30.
NYSE:USO May 1, 2017 11:33am

Lack Of New Oil Discoveries Could Finally Spur Crude Price Rally

Image of an oil derrick with blue sky
From Nick Cunningham: The volume of new oil discoveries hit a record low in 2016, the result of severe cuts to exploration budgets amid plummeting oil prices. The number of new conventional drilling projects also dropped to the lowest level in 70 years, according to the International Energy Agency.
NYSE:USO April 28, 2017 9:38am

Oil Fails To Hold Gains After Higher Than Expected Draw

Image of an oil derrick with blue sky
From Matt Smith: In today's game of rock-paper-scissors from the weekly EIA inventory report, crude inputs were propelled higher (like a rock), blunting the impact of super-strong imports (the scissors).
NYSE:USO April 27, 2017 6:47am

Latest Crude Oil Buildup Shows How Difficult A Price Recovery Will Be

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From OilPrice.com: The American Petroleum Institute (API) reported a build of 897,000 barrels in United States crude oil inventories, compared to analyst expectations that markets would see a bit of relief with a crude oil draw of 1.6 million barrels.
NYSE:USO April 26, 2017 6:42am

The Bullish Case For Oil Is Fading Fast

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From Nick Cunningham: Oil prices took another dip on Monday, and with WTI down to $49 per barrel, crude oil has given up most of the gains that it had made so far this month, taking prices down to their lowest levels since late March.
NYSE:USO April 25, 2017 6:03am

How Successful Has The OPEC Production Cut Deal Been?

From Nick Cunningham: Oil prices took a hit last week after doubts resurfaced over the odds of an OPEC extension. The chances of an extension still seem good, but ultimately the decision to maintain production cuts will come down to whether or not the participating members view the reductions as a success. So, have the cuts been successful? That depends on your perspective.
NYSE:USO April 24, 2017 7:11am

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