Tag: Price of Oil
Oil Is Breaking Out, How About Oil Company Stocks?
In late 2016, OPEC agreed to cut production in order to address an oversupplied oil market. Global crude oil inventories had reached record highs, and the price of oil had crashed. OPEC’s strategy is having the desired effect. Over the past year, despite strong U.S. shale production growth, global inventories have steadily declined. In response, […]
An OPEC Deal Extension Isn’t As Simple As It Sounds
It’s been six months now that oil prices have been reacting to OPEC, first to the possibility of an agreement, and then to the production cut deal itself, forged by OPEC to rebalance the market. The deal–initially aired as ‘an agreement to agree on a deal’ in September and signed at the end of November—will […]
US Dollar And Price Of Oil Directly Linked
Oil Prices reached new highs this week, driven higher by concerns over additional conflicts in the Middle East, and specifically by recent nuclear announcements made by Iran. Also contributing to the unsettling nature of the market is the saber rattling by Turkey about potential military moves into Iraq. This news flow is clearly an external factor that will continue to […]
