• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 5 mins Iran downs US drone. No military response . . Just Completely Destroy their Economy. Can Senator Kerry be tried for aiding enemy ?
  • 37 mins The Inconvenient Truth Of Electric Cars
  • 6 hours California and Oil
  • 5 hours The Plastics Problem
  • 9 hours Win Against Tyranny: Turkey's Opposition Strikes Blow To Erdogan With Istanbul Mayoral Win
  • 6 mins NATO Article 5: Attack on one member is attack on all. Members all must come to defense . . . NOT facilitate financial transactions to circumvent and foil US Sanctions. Somebody please tell Angela.
  • 8 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 3 hours Hydrogen FTW... Some Day
  • 3 hours Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 1 hour Oil Demand Needs to Halve: Equinor
  • 9 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 20 hours What's more Important Iran Nuke Deal or Strong China Trade Deal. Hypothetically, If China offered Trump North Korean and Iran deals in exchange for concessions on trade deal should he take it ?
  • 18 hours Solar Panels at 26 cents per watt
  • 13 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
Alt Text

Oilfield Services Are Flexing Their Muscles

Oilfield service companies are beginning…

Alt Text

The Irony of California’s Oil Dependence

California’s oil production has been…

Alt Text

Libya’s Oil Production Could Double Within 5 Years

Frequent field outages and security…

Matt Smith

Matt Smith

Taking a voyage across the world of energy with ClipperData’s Director of Commodity Research. Follow on Twitter @ClipperData, @mattvsmith01

More Info

Trending Discussions

Q4 Opens With A Rally In Oil Prices

Eighty-seven years to the day after Duke Ellington recorded ‘The Mooche’, and China is mooching off for a five-day holiday after delivering some better-than-expected manufacturing data. The final Caixin print came in at 47.2, above the preliminary print of 47.0, while the official number came in at 49.8 – higher than both expectations and last month’s number. Chinese markets are now closed until next Thursday, as a number of national holidays are observed.

Across to Europe, and although Spain, Italy, and Germany all showed prints below expectations, France came in stronger to lift the aggregate print for the Eurozone up to consensus of 52. The UK’s number was better than expected at 51.5, but below last month’s print of 51.6. Onto the U.S., and while we get manufacturing data in a bit, we have seen weekly jobless claims come in a bit worse than expected ahead of tomorrow’s official monthly unemployment release. Related: Germany Now Faced With Thousands Of Aging Wind Farms

Switching gears, there is an interesting piece today looking at the negative impact on the Nigerian economy from falling oil prices. Oil accounts for nearly 70 percent of Nigeria’s annual budget of $22 billion, hence the drop in oil prices is leading to a corresponding drop in economic growth. Nigeria’s economy is projected to grow at just 2.8 percent this year, after a decade of averaging above 7 percent.

Related: The Peak Oil Story We Have Been Told Is Wrong

Crude prices are rallying to start this final quarter of the year, boosted by overnight Chinese manufacturing numbers, in combination with rising geopolitical tension amid air strikes by Russia in Syria. Saudi Arabia is expected to cut its prices into Asia for November as it seemingly continues its pursuit of market share, while Mexico has held a successful second auction (after a lackluster first one); winning bids have been assigned for three of five oil and gas areas up for grabs.

By Matt Smith

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News