Iraq’s Solution To Lower For Longer Oil Prices

OPEC’s second-largest oil producer, Iraq, has never hidden the fact that it wants to get the highest possible revenues from its oil. It even pleaded exemption from the cartel’s cuts in the talks leading to the production reduction deal, on the grounds that it needed more funds to fight ISIS. Iraq didn’t get that exemption, …

A future of cheap oil

An ongoing price slump is rattling the industry and weakening petrostates. How will low prices change the world? Here’s everything you need to know: How cheap is oil? Prices have hovered between $40 and $50 a barrel for the past year — far below the pre-collapse high of $147 a barrel in 2008. The U.S. …

Oil is Rising, but EIA’s Short-Term Energy Outlook is not all That Pretty

The U.S. Energy Information Administration lowered its outlook on Brent crude for 2017 and 2018 to last month’s projections by $2 and $4, respectively, to $51 per barrel and $52 per barrel, but oil prices have been climbing so far Tuesday. Photo by Joe Raedle/Getty Images Brent crude rose 1.5% to $47.59 per barrel. Meanwhile United States …

Oil will crater unless there’s a ‘shock and awe’ cut in output, Goldman Sachs says

Darren Whiteside | Reuters An employee rides his bike past barrels of petroleum products at a state-owned Pertamina fuel depot in Jakarta, Indonesia. Oil prices could soon fall below $40 a barrel if investors don’t get a clear catalyst that prompts them to start buying the commodity, Goldman Sachs said on Tuesday.The investment bank believes …