Tag - oil producers

Vervantis

Oil Price Steadies Decline

Oil price steadies decline after tumbling to the lowest level since before OPEC reached an output-reduction deal as U.S. shale confounds the producer group’s attempts to prop up prices. Prices are approaching an 8 percent decline this week, bringing the U.S. benchmark crude back to levels last seen before the Organization of Petroleum Exporting Countries signed a six-month deal in November to curb production and ease a global glut. The drop in prices is being driven by expanding U.S. output [...]

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shorts-on-the-line

Shorts on the Line!

Energy Shorts In the last seven weeks, those who have been watching the oil markets would notice a 50% increase in cost.  With a global market in oversupply, and crude stocks fast approaching their highest ever levels, it is right to wonder what might be causing this upward pressure. The answer in part appears to be shorts! Traders have been getting out of their energy shorts, and fast!  In fact, according to the U.S. Commodity and Futures Trading Commission, it was the largest on record. In the [...]

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