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Oil Buyers Guide

Big Oil’s Fear: A Price Shock After $114 Billion of Cuts

April 22, 2015

By Bradley Olson, As the oil patch grows accustomed to a new world of $50 to $60 a barrel crude, it’s now looking ahead to a different but equally daunting sort of cliff. Oil companies are warning there will be a price to pay — a much higher price —

Oil ETF Holders Cash Out For First Time in 7 Months

April 14, 2015

BY MOMING ZHOU Oil investors are cashing out of funds that track prices for the first time in seven months after crude rebounded. Holders of the three biggest U.S. exchange-traded products that follow oil have withdrawn almost $300 million so far in April, leaving the funds poised for their first monthly outflow since September.

Iran Oil Return May Be Slow Amid Competition for Cash

April 7, 2015

BY JAVIER BLAS AND BRADLEY OLSON Iran’s full return to world oil markets will be hindered by strong competition for foreign investment dollars from rival producers including Iraq, Mexico and Brazil, among others. In a world of surplus supply, $50 a barrel crude and deep cuts to capital expenditures by oil companies, Iran

Oil Heads for Third Quarterly Drop on Iran Deadline

March 31, 2015

BY RUPERT ROWLING, JONATHAN TIRONE, INDIRA A.R. LAKSHMANAN Oil headed for a third quarterly loss as Iranian and Western diplomats worked toward a nuclear deal that may lead to the OPEC member increasing crude exports. Futures dropped as much as 2.9 percent in New York, falling for a third day. Iran

Asia Readies for Iran Oil Bargains on Potential Deal

March 24, 2015

  BY SHARON CHO, DEBJIT CHAKRABORTY AND YUJI OKADA Asian oil buyers taking their pick of supply from Iraq to Mexico amid a global glut are preparing for the pool of potential bargains to expand if Iran boosts exports. As world leaders seek an accord on Iran’s nuclear program, at least

U.S. Oil, Gas Workforce Has Only Just Begun to Fall as Rig Count Drops

March 17, 2015

The decline in the U.S.oil and gas workforce, including drillers, E&P and support staff, has only just begun, according to U.S. Bureau of Labor Statistics data analyzed by Bernstein Energy & Power. While the U.S. rig count has declined 32 percent since November, the oil and gas workforce count has fallen just 1 percent over the same period. The

U.S. Shale Oil Growth Slows as Price Idles Drill Rigs

March 10, 2015

BY DAN MURTAUGH The biggest slowdown in oil drilling on record is showing signs of reining in the U.S. shale boom. U.S. shale oil output is expected to post the slowest growth in more than four years in April, the EIA said today.That follows a 41 percent plunge since December in the number of

U.S. Gulf Facing Oil Flood From Midwest as Glut Grows

March 3, 2015

BY DAN MURTAUGH The flood of oil inundating the U.S. Midwest is about to cascade down to the Gulf Coast. Bulging inventories at tanks in Cushing, Oklahoma, the country’s biggest storage hub and delivery point for U.S. benchmark futures, has made oil there the cheapest in more than a year

Oil Rebound to $100 Unlikely: BlackRock

February 24, 2015

BY ANGELINA RASCOUET Oil prices are unlikely to go back to $100 a barrel because new technology is driving down the cost of production, said Larry Fink, CEO and co founder of BlackRock. “This is an oil shock that was supply-driven and the supply was created by new technology,” Fink said in an

Declining Share to China Drives Asia OSPs to Record Lows

February 17, 2015

If you want to get a clearer picture why Saudi Arabia is desperate to retain its market share in Asia, consider this chart. Saudi shipments to China, the world’s second-largest buyer of crude, fell to 15 percent of the nation’s oil imports in 2014 from 21 percent in 2011, according to China customs data. Saudi Arabia’s annual