Oil Surges On OPEC Extension News, But Will The Deal Work?

From Tyler Durden: Goldman Sachs, which has been pushing for higher oil prices with seemingly daily bullish research reports for the past month, and which underwrote the last Saudi Arabian bond issue and is expected to also manage the Aramco IPO (explaining the bank’s conflict of interest), released a note commeting on the latest development […]

Image of oil drums

Oil Prices Tumble Again, As Saudi Production Ramps Up

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 […]