Silver as an investment

Category Archives: National Oil Corporation

Hurricane Harvey Is A Disaster For OPEC

Authored by Nick Cunningham via OilPrice.com, The skies are clearing over Houston, but the damage from the remaining elements of Hurricane Harvey has spread east to Port Arthur and Lake Charles along the Texas-Louisiana border. That has knocked more refineries offline, including the largest refinery in the United States. In the aftermath of the storm, […]

WTI Jumps Above $50 On Report US Prepping Sanctions Against Venezuela Oil Industry

After both Brent and WTI rose above their respective 50DMAs on Friday, capping 2017’s best weekly rally for oil, the rising tide is accelerating as the latest CFTC COT data confirmed, when net specs boosted bullish Nymex WTI crude oil bets by 27K net-long positions to 423K, the highest in two months, as producers continued […]

Libya’s Oil King Won’t Be Stopped By OPEC

Authored by Tsvetana Paraskova via OilPrice.com, Conflict-torn Libya, divided between rival factions in the east and the west, recently reached 1 million bpd of crude oil output – for the first time since 2013. The oil production recovery has put in the spotlight the chairman of Libya’s National Oil Corporation (NOC), Mustafa Sanalla, whom analysts […]

The Math Behind OPEC’s Revised Production Cut Still Does Not Work

“Whatever it takes.” Saudi Energy Minister Khalid al-Falih and Russia’s Energy Minister Alexander Novak That’s what Saudi Energy Minister Khalid al-Falih and his Russian counterpart Alexander Novak said in a statement overnight in Beijing they would do to reduce the global oil inventory overhang, using the immortal phrase coined by ECB’s Mario Draghi five years […]

Why The Crude Rally Has Fizzled – Part 3 (Of 3)

Authored by James Bambino via Platts blog, This is the third and final segment of a three-part look at why oil prices have failed to rally despite OPEC’s best efforts at managing supply cuts. Not only have prices failed to rally, both NYMEX WTI and ICE Brent have fallen around 9% over the past three […]

Oil Shorts Soar By 2nd Most In History As OPEC Hope Fades

During a week that saw WTI crude prices erase all post-OPEC-production-cut-deal gains, after the Saudis admitted 'cheating' (but rapidly back-pedalled), oil speculators added almost 80,000 contracts to their short positions – the 2nd most in 34 years.   This surge in shorts reduced the massive record net long crude positioning by the 2nd most in […]

Huge Oil Find Could Save Alaska’s Oil Sector

Authored by Nick Cunningham via OilPrice.com, Spanish oil firm Repsol SA just announced the largest onshore oil discovery in the U.S. in three decades, a 1.2 billion barrel find on Alaska’s North Slope. Repsol has been actively exploring in Alaska since 2008 and finally hit a big one. The find came after drilling two wells […]