Wealth Creation Through Natural Resources
The market has done what it does best and that is to adjust to supply & demand and settle into a new equilibrium price range: The global crude oil market is moving back into deficit after spending the last couple … Continued
OPEC oil production rose to 31.77 million barrels per day in November, another record month of output which is well above the 30 million barrel per day quota the coalition of oil producing nations has set. Iraq and Saudi Arabia … Continued
Via RBC:
WTI crude oil futures are in the process of posting their largest 3-day rally since early 2009. Crude futures are now up ~22% since early Thursday morning’s lows: This morning’s powerful bullish reversal from below $44/barrel to over $48/barrel … Continued
OPEC crude oil production surged by roughly 1 million barrels per day in March after consecutive months of decline: Meanwhile, there is some question about US production declines as the data doesn’t paint an entirely clear picture. Production is … Continued
As WTI crude oil tests an important area of support/resistance near $49 there are some signs that crude prices could ultimately fall below $40 if certain supply conditions remain present. The global crude oil supply/demand balance is very delicate to … Continued
Last week we highlighted 6 positive signs for crude oil. As it would turn out less than 48 hours later crude would briefly break below $44 only to quickly reverse sharply higher and end the week above $47/barrel: As the saying … Continued
Bears come out to play as Gold, Silver, Platinum and Gas among other commodities get mauled MarketWatch: Gold post biggest drop in the past 14 months!!! Mining.com: Potash Corp profit rips 77% on record sales CNNMoney: Obama’s Boom Town… check that, Obama’s … Continued
A wild day in the equity markets and some early signs of a bottom in crude. Here’s what we are reading this evening… Marketwatch: He called $50 oil, now he says it’s going lower….although he also agrees that $60-$70 is … Continued
From Bloomberg Briefs: Iraqi oil production has absolutely exploded during the last 6 months to now more than 4 million barrels of oil per day. This is occurring even as ISIS continues to conduct its insurgency throughout much of the … Continued