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Category Archives: oil crisis

The Petrodollar’s Biggest Challengers

Authored by Michael Kern via CryptoInsider, Established in the early 1970s, the petrodollar has secured the United States’ influence over the oil trade for over 40 years, but recently, it is clear that this monopoly is slowly beginning to fall apart – in some part due to the influence of Bitcoin and other emerging cryptocurrencies. […]

As Quota Compliance Tumbles, Is The End Of OPEC Near?

OPEC’s progress in reducing the oversupply in global oil markets relied on contributions from Nigeria and Libya in March, two countries that are exempt from the group’s deal to rein in production. The Organization of Petroleum Exporting Countries pumped 32.095 million barrels a day, down 200,000 a day from February, according to a Bloomberg News […]

Trump Left Saudi Arabia Off His Immigration Ban… Here’s Why

Submitted by Nick Giambruno via, On August 15, 1971, President Nixon killed the last remnants of the gold standard. It was one of the most significant events in US history—on par with the 1929 stock market crash, JFK’s assassination, or the 9/11 attacks. Yet most people know nothing about it. Here’s what happened… After […]

US To Sell 8 Million Barrels Of Oil From The Strategic Petroleum Reserve

Two weeks ago we previewed that the U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve (SPR) as soon as January, the beginning of a multi-year process to shrink the nation’s stockpile of oil. Congress has authorized DOE to sell off $375.4 million worth of oil in its recent […]

U.S. Prepares To Sell Off Its Oil Reserves

Submitted by Nick Cunningham via, The U.S. is beginning to wind down one of the core energy security policies of the past half century as the boom in domestic drilling eases concerns about supply. (Click to enlarge)   The U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve […]

The Oil Crisis Is Just Getting Started / Justin Spittler / October 21, 2015 The oil crisis is about to take down a lot more victims…will you be one of them? As you likely know, the oil market is in a full-blown crisis. Last summer, the price of oil peaked at just over $106 per barrel. Today, it’s trading for about $46. Low […]

Why The Price Of Oil Is More Likely To Fall To 20 Rather Than Rise To 80

This is just the beginning of the oil crisis.  Over the past couple of weeks, the price of U.S. oil has rallied back above 50 dollars a barrel.  In fact, as I write this, it is sitting at $52.93.  But this rally will not last.  In fact, analysts at the big banks are warning that […]

RussiaToday: Tax’n’Waste: Oil-thirsty budget batters UK businesses

Motorists and the elderly will be feeling the pinch in the UK, as the government has unveiled its 2012 budget. Measures freezing pensioners’ allowances have been dubbed a ‘granny tax’, while there’s criticism that only large corporations and the rich w…

RussiaToday: Iran oil ban to break EU faster than Euro?

It’s turmoil in the Arab world that’s now threatening a bigger blow to the global economy, than the crisis in the Eurozone. The IMF Chief Christine Lagarde has warned that escalation of the situation with Iran, for example, could drive oil prices above…

RussiaToday: Shoot In The Foot: Iran oil ban to recoil on EU

Iran is facing further isolation, as the world’s biggest electronic banking system, known as SWIFT, prepares to cut off dozens of financial firms blacklisted by the EU. It’s part of a broader effort by European nations who also plan to impose an embarg…