OPEC Cutback Deal Threatened by New US Numbers

The trend in the United States of accelerating oil production does not seem to be slowing down. Recent reports show that oil production from U.S. shale producers will increase in April, according to the Energy Information Administration. High market prices are currently being supported by OPEC cutbacks, and these higher profits are funding the growth of… Please follow and like us:

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Another glum day on Wall Street as oil, interest rates dominate

WASHINGTON, March 14, 2017 – The icy winds are howling outside the Maven’s townhouse in Reston, a Virginia suburb of Washington, D.C. But roads appear to be cleared already, unlike today’s Wall Street action in blizzard-plagued Manhattan, a storm, which the always-looking-for-viewers Weather Channel insists on naming Winter Storm “Stella.” (Hell, these aren’t hurricanes, guys.) Market… Please follow and like us:

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Saudi Arabia wants oil prices to rise to $60 in 2017

Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said. This is the level the OPEC heavyweight and its Gulf allies – the United Arab Emirates, Kuwait and Qatar – believe would encourage investment in new fields but not lead to… Please follow and like us:

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