Tag: crude prices

Crude Will Soon Crash

March 11, 2022
crude pricesOpinionViewpoints
0 Comment

Commentary Crude oil prices continue to scream higher and have recently touched their highest level since the Global Financial Crisis. Many pundits are predicting crude oil prices will continue to climb and could easily break the peak set back in July 2008. With the world turning its back on Russian oil and inventories at Cushing,…

Read More

OPEC, US Oil Firms Expect Subdued Shale Rebound Even as Crude Prices Rise

February 22, 2021
Businesscrude pricesEconomiesNatural gasOPECshale oil
0 Comment

LONDON/HOUSTON—OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC and its allies. OPEC this month cut its 2021 forecast for U.S. tight crude, another term for shale, and expects production to decline by 140,000…

Read More

US Oil Refiners Set for Worst Earnings Quarter of the Pandemic

January 25, 2021
Businesscrude pricesEconomieseconomyOilrenewable fuelsUS
0 Comment

NEW YORK—U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of associated with blending of renewable fuels into their products. Seven U.S. independent refiners are projected to post an average earnings-per-share loss of $1.51, down…

Read More