News
Oil inventories continue to grow after prior week’s record build
The nation’s stockpiles of commercial crude oil jumped by another 2.4 million barrels last week after a record build during the week prior, the Energy Department said Wednesday. Oil prices were down slightly Wednesday morning,...
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Coal production in 2016 expected to be lowest in decades
By the end of 2016 overall coal production is expected to drop to its lowest level since 1978, according to the U.S. Department of Energy. In its 2017 Outlook, the department’s Energy Information Administration predicts...
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Market Currents: OPEC’s longer-term view
Given the election is dominating much of the sentiment in markets today, and given the timely release of OPEC’s World Oil Outlook, today’s post digs into some of the longer-term trends emerging in the oil...
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Investors splurge with $28 billion in U.S. driller stock sales this year
Wall Street investors have poured an unprecedented sum of cash into U.S. drillers this year, providing cover from low prices and a chance to rearrange the board in oil-rich West Texas and Oklahoma. Oil extraction...
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OPEC forecasts increased oil demand, slow rise in prices
OPEC raised its forecast for global oil demand next year and through the end of the decade, anticipating that cheaper crude will spur consumption even as economic growth slows. Demand will reach 95.3 million barrels...
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