Tagged: opec

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The Low Oil Price Guts Another OPEC Oil Exporter

BY SRSROCCO  The low oil price is negatively impacting another OPEC oil exporter as it continues to liquidate its foreign exchange reserves.  Algeria, like Saudi Arabia, has seen its international reserves plummet by more than...

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Forget OPEC, China Controls Oil Prices

By Irina Slav U.S. shale has taken a lot of headline space recently as the biggest headwind for oil prices and the highest stumbling block for OPEC’s efforts to prop them up by cutting production....

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The OPEC Extension Is Already Under Threat

By Osama Rizvi Rising production from both U.S. shale and Libya has been playing havoc with oil prices of-late. The possibility of a strong Summer Driving Season, which may subsequently lead to some inventory...

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OPEC No Longer in Control of Oil!

For decades, OPEC’s sway on oil prices was unparalleled. But the cartel’s immense influence has been dealt a huge blow by the dramatic boom in US shale. “Saudi Arabia and OPEC are no longer...

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Is The Market Running Out Of Patience With OPEC?

By ZeroHedge Just as we warned yesterday following the EIA inventory and production data release, the exuberance over the crude draw was misplaced (due to the surge in product builds and almost unprecedented refining...