Elizabeth

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Oil price posts two-year highs - but how long can it last?

Oil’s long-neglected bulls finally had reason for cheer this week, after Brent crude prices lurched to two-year highs.<p>Benchmark Brent rose above $59 …

Will the Upheaval in Fossil Fuel Industry Take the Rest of the Economy Down With It?

Yves here. The strength and weakness of this article is the range of information it covers. That comes at points at the expense of providing context. …

Why crude oil prices keep taking us by surprise

Most people know that crude oil prices are hugely consequential for the global economy. Soar too high and they trigger recessions. Plunge too low, too fast and they sow chaos in oil-producing nations. Even medium-sized squiggles can roil markets.<p>Yet despite their vast importance, few experts seem …

The crazy idea that higher oil prices might be good for the economy right now

Funny things happen when interest rates are zero, but are they so funny that low oil prices might actually be hurting the economy right now?<p>The answer, according to International Monetary Fund Chief Economist Maurice Obstfeld, is maybe. That, at least, is what he and his colleagues said when they …

Economics

India's thirst for oil is overtaking China's

India is increasingly becoming the centre for oil demand growth as its economy expands by luring the kind of manufacturing that China is trying to …

Wall St Lower Over Rising Global Growth Fears

Wall Street was lower on Thursday as oil prices slid and investors worried that measures taken by central banks may not be enough to put the global economy back on track.<p>Crude fell more than 2 percent as a rise in Iraqi exports offset gains from an unexpected fall in U.S. inventories. Exxon fell …

Stock Markets

This map from Deutsche Bank shows the winners and losers from the oil slump

For oil-producing countries, the days of asking $100 a barrel seem to be over.<p>Oil plunged to below $40 a barrel since OPEC decided hold output levels high in 2014 as demand fell, and it looks set to stay that way.<p>Over the weekend, Iran announced that production of oil in the country had passed 2 …

Saudi Arabia will only freeze production if Iran plays ball — and oil is getting crushed

OPEC and other major oil suppliers, including Russia, are still due to meet in Qatar on April 17 to discuss the oil price crisis.<p>But in an interview with Bloomberg Mohammed bin Salman said that Saudi Arabia would only participate in price freezes if Iran and other suppliers did too.<p>"If all …

Oil

Cheap Oil Has Bankrupted More Than 50 American Producers—So Far

As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many U.S. shale producers …

Oil's dramatic fall and shocking rise

Phew. Oil's roller-coaster quarter is over.<p>Prices plunged to their lowest point in 13 years, and then rose 42% in just over three weeks. In the end, prices ended the quarter pretty much where they started it -- just under $40 a barrel.<p>Some of the wild swings were driven by politics, others by mere …

Oil

Will Oil Price Crash Create A New Price Spike?

The oil patch in 2016 resembles the sequel to “There Will Be Blood,” with massive layoffs and plummeting capital expenditures, such that expectations of a tightening market and renewed oil price surge are widespread. The chaos in the upstream sector, blindsided by a collapse in cyclically high oil …

Oil & Gas Industry

India’s growth has nothing to do with the “good fortune” of falling oil prices: Narendra Modi

India’s economic growth has been talked about a lot in recent months. Asia’s third largest economy is one of the world’s fastest growing—estimated over 7.5% annually.<p>Several economists feel that there is a bit of good luck involved in this stellar performance. For one, falling global oil prices are …

India

Saudi Arabia Sets A $20-$40 Price Range For Crude Oil, For Now

Saudi Arabia has found itself between a rock and a hard place lately. When it comes to the direction of the price of crude oil, that is.<p>The Kingdom is caught in a situation where big swings in the price of crude oil in either direction are damaging to its economic and political future.<p>That’s why …

Oil

Update on the Oil Crisis: It Is Confusing but Not That Confusing

The twists and turns in this oil crisis are fascinating and show why long-term economic prediction is so hard. Pontification on oil prices is at its …

Hillary, Bernie, Hydraulic Fracturing And The Future Of US Oil And Gas Production

The dramatic increase in domestic oil and gas production since 2008 – the so-called “shale revolution” – has been a boon to the US economy and the Obama administration, not to mention the international and geopolitical benefits. In fact, growth in US oil production alone offset the losses in …

Oil & Gas Industry

How the Current Oil Price Rally Is Reaching Its Limits

Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least …

Oil prices storm back to recover 50pc in two months

Oil prices have recovered by 50pc in the last two months, capping a storming reversal of fortunes and raising hopes the world's worst price rout is finally over.<p>Brent crude hit $41.73 in Tuesday's trading, as speculation grew over an imminent supply freeze led by giant producer Saudi Arabia after …

Global stocks dip, dollar strengthens on Fed talk | Reuters

NEW YORK (Reuters) - Global equity markets edged lower on Monday as the dollar strengthened and U.S. Treasury yields rose on hawkish commentary from several Federal Reserve officials.<p>An investor looks at an electronic board showing stock information at a brokerage house in Huaibei, Anhui province, …

Stock Markets

Nigeria: Exports Slumped 40 Percent in 2015 Over Fallen Oil Price

Nigerian exports slumped 40.3 per cent last year after a fall in crude prices slashed government's revenues, weakened the currency and caused the …

Kazakhstan diversifies economy to survive oil and gas slump

Kazakhstan’s economy depends on oil and gas and the slump in the industry has put its economic resilience to the test.<p>Its currency has devalued and inflation peaked at more than 15 percent last month.<p>The government is trying to diversify the economy and encouraging small and medium businesses is a …

Oil sticking above $40 per barrel

NEW YORK, March 17 (UPI) -- Shimmers of economic optimism from the United States and growing support for production caps gave crude oil prices a lift …

Canada’s future under Trudeau looks bright

The value of the Canadian dollar and the price of oil, one of the nation's top exports, have both tumbled to near record lows. But those details – and the apparent demise of the Keystone XL pipeline – don't begin to tell the story of what lies ahead for the economy of Canada, America's …

Manufacturing rebound bodes well for Canada's oil-shocked economy

Canada’s factories have hit a milestone that bodes well for the country’s oil-shocked economy.<p>Manufacturing sales climbed 2.3 per cent in January to top $53-billion, marking the highest level on record, Statistics Canada said today.<p>Notable, too, is that today’s report marked a string of monthly …

Nigerians told to #BuyNaija as economy battles falling oil prices

Nigerians are known for their love of foreign goods. At parties revellers often throw dollar bills over each other, the middle classes have a penchant for Japanese cars and almost everyone relies on imported generators to cope with constant power cuts.<p>But the fall in global oil prices to $33 a …

Africa

U.S. Producer Prices Fell 0.2% in February

Underlying figures hint at firming inflation<p>WASHINGTON—A gauge of business prices fell in February, a sign inflation pressures remain modest.<p>The producer-price index for final demand, which measures the prices companies receive for goods and services, decreased 0.2% in February from the prior …

Economics

Stocks fall as oil resumes slide, Fed rate decision looms

Stocks ended mostly lower Tuesday as investors reacted to a resumed slide in oil prices and braced for the Federal Reserve's decision Wednesday on interest rates.<p>Down were the Nasdaq and the S&P 500, off 0.5% and 0.2%, respectively. Finishing higher was the Dow Jones industrial average, which …

Stock Markets

U.S. stocks pressured by weak oil prices ahead of Fed decision

U.S. stocks closed mostly lower Tuesday, weighed by a rout in oil prices and a string of lackluster economic data, ahead of the Federal Reserve’s …

European Central Bank (ECB) Cuts Rates and Pours More Money into Financial Markets | Global Research - Centre for Research on Globalization

<i>The European Central Bank (ECB) yesterday unleashed a new series of measures under its quantitative easing program, including expanded purchases of</i> …