• 4 minutes Nord Stream 2 Halt Possible Over Navalny Poisoning
  • 8 minutes America Could Go Fully Electric Right Now
  • 11 minutes JP Morgan says investors should prepare for rising odds of Trump win
  • 33 mins US after 4 more years of Trump?
  • 2 days Daniel Yergin Book is a Reality Check on Energy
  • 3 days Permian in for Prosperous and Bright Future
  • 2 days Famine, Economic Collapse of China on the Horizon?
  • 31 mins Something wicked this way comes
  • 2 days Oil giants partner with environmental group to track Permian Basin's methane emissions
  • 1 hour Why NG falling n crude up?
  • 3 days YPF to redeploy rigs in Vaca Muerta on export potential
  • 3 days Gepthermal fracking: how to confuse a greenie
  • 3 days Top HHS official takes leave of absence after Facebook rant about CDC conspiracies
  • 15 hours The Perfect Solution To Remove Conflict Problems In The South China East Asia Sea
  • 2 days Open letter from Politico about US-russian relations
  • 4 days Surviving without coal is a challenge!!

Breaking News:

Norway’s Oil Fund Is Buying Bitcoin

Should You Buy Into This Oil Rally?

Should You Buy Into This Oil Rally?

Technical and fundamental factors are…

Editorial Dept

Editorial Dept

More Info

Premium Content

The Oil Bears Are Back

Oil is turning bearish, despite all the speculative excitement of taking more Iranian crude off the market. The end of Iran sanctions waivers was officially on Thursday, but while oil importers were scrambling to find alternative supplies at comparable prices, oil prices crashed on record US production and a Russian pipeline coming back online to balance out the market.

And while the mid-week mass uprising called by the opposition leader in Venezuela temporarily boosted oil prices, the failure of Guaido to secure full military allegiance and oust Maduro immediately led to a shortened attention span among speculators. The other oil flow under threat is Libya, but the more likely short-term scenario is that General Haftar will start importing unilaterally. It’s not about upsetting the flow; it’s about controlling it, and the revenues.

Oil Story of The Week: What Exactly Is Buffett Betting On?

Buffett is throwing his weight behind Occidental in its unusual bidding war with Chevron for Anadarko’s prized Permian Basin assets. He’s offered Occidental $10 billion as it tries to derail Chevron’s $33-billion bid that everyone thought was a done deal until Occidental rocked the boat and came in with a $38-billion offer.

While analysts have crawled out of the woodwork to criticize Occidental and opine that Chevron will do more with these assets, Buffett’s $10 billion clearly disagrees. And Buffett may well be right on this one.…





Leave a comment

Leave a comment




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