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IEA: OPEC Can’t Save The Oil Market

Jim Hyerczyk

Contributor since: 10 Jan 2013

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

Latest articles from Jim

  • Oil Outlook Rests On Two Sinking Ships

    Published 10 July 2015 | viewed 4,199 times

    Bearish fundamental factors lined up this week to fuel a sharp break by September Crude Oil futures. The week began with Greek citizens voting “no”…

  • Short-Sellers Beware This Coming Week

    Published 03 July 2015 | viewed 5,448 times

    August Crude Oil futures finished lower last week for a number of reasons. The market started the week under pressure and never looked back. The…

  • Downside Bias Emerging In Crude Futures

    Published 26 June 2015 | viewed 4,411 times

    August crude oil futures are set to finish the week lower after an earlier rally failed to draw enough long interest to drive the market…

  • Slowing Production May Hold Prices In Range

    Published 19 June 2015 | viewed 4,132 times

    After reaching its highest level in three weeks and posting a higher close the week-ending June 12, August Crude Oil futures posted an inside move…

  • Price Action Suggests Bullish Investor Sentiment

    Published 12 June 2015 | viewed 4,214 times

    The price action by August Crude Oil futures is once again suggesting a balanced market. The low to high price action for the week suggests…

  • OPEC Meeting Looms Large Over Oil Markets

    Published 05 June 2015 | viewed 3,984 times

    Crude OilWorries about OPEC’s latest production decision due on June 5 overrode the potential bullishness of this week’s U.S. Energy Information Administration report. The EIA…

  • OPEC Meeting Could Be Straw That Breaks Oil Markets’ Back

    Published 29 May 2015 | viewed 5,968 times

    The selling pressure started early this week as crude oil traders reacted to last Friday’s data from Baker Hughes that showed only one oil rig…

  • Expect Back And Forth Price Action Until June 5th

    Published 22 May 2015 | viewed 4,132 times

    July Crude Oil futures have drifted sideways-to-lower since its May 6 top at $63.62 despite three consecutive weekly drawdowns in inventory. Drawdowns have even taken…

  • Rally’s Fate Could Hang On EIA Inventory Data Next Week

    Published 15 May 2015 | viewed 3,956 times

    Despite the previous week’s potentially bearish chart pattern, July Crude Oil futures managed to trade higher most of the week. The key number which held…

  • Investors Should Sell Weakness For The Time Being

    Published 08 May 2015 | viewed 3,627 times

    June Crude Oil futures rallied earlier this week, taking out the psychological $60.00 level in the process. The rally was triggered by a price hike…

  • Crude Futures Holding Firm On Supply Drawdowns

    Published 30 April 2015 | viewed 4,187 times

    Crude Oil OutlookJune Crude Oil futures remained firm last week as the market flirted with the psychological $60.00 price level. The market was supported by…

  • Trend Should Remain Up Despite Trader Indecision

    Published 24 April 2015 | viewed 3,735 times

    June Crude Oil futures posted an inside move last week. This reflected trader indecision or that traders are waiting for fresh information. There was very…

  • Investor Sentiment Could Be Shifting

    Published 17 April 2015 | viewed 4,181 times

    A drop in U.S. crude oil production helped drive futures prices higher this week. There is even evidence of renewed hedging in the deferred futures…

  • Markets Setting Up For A Major Short Squeeze

    Published 10 April 2015 | viewed 4,197 times

      Last week, crude oil futures bucked the trend and defied the bearish fundamentals to put them in a position to finish higher for the…

  • News Continues To Stoke Oil Market Volatility

    Published 03 April 2015 | viewed 4,425 times

    Despite another week of increased inventories and the possibility that Iran will agree to a nuclear deal, May Crude Oil futures posted an inside move…

  • Extent Of Rally Depends On Saudi Assault

    Published 30 March 2015 | viewed 3,612 times

    The spike in May NYMEX Crude Oil futures during the pre-market trading session on Wednesday night (Eastern Time) came as a surprise to many traders…

  • Support Crumbles As Sellers Resume Control

    Published 20 March 2015 | viewed 4,655 times

    Crude Oil Crude oil support fell apart last week, leading to a price collapse. The selling momentum was strong enough to drive the market into…

  • Pressure Building On Crude Prices

    Published 13 March 2015 | viewed 5,274 times

    Crude OilMay Crude Oil futures were under pressure most of the week driven by concerns over huge supply and diminishing demand. The U.S. Energy Information…

  • Time For Some Optimism

    Published 06 March 2015 | viewed 4,274 times

    April Crude Oil futures are poised to close higher for the week after posting a strong recovery, following last week’s sell-off. Technically, the picture is…

  • Selling Pressure Rises As Rig Count Drop Slows

    Published 27 February 2015 | viewed 4,097 times

    Technical and fundamental factors weighed on crude oil late in the week, which could be signaling support has been pulled from the market. On Thursday,…

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