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Economist On Low Oil Prices: Concern Is For A Year Or Two From Now
Wednesday, December 17, 2014 - 12:42pm | 128Read More...Economist and Peak Prosperity Co-Founder Chris Martenson told Benzinga that the concern for low oil prices should be on what happens in a year or two if OPEC doesn’t cut production. He explained that $150 billion worth of oil production projects have been pulled, in addition to shale well...
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Economist Says OPEC Not Cutting Production For 'Non-Economic, Possibly Political' Reasons
Wednesday, December 17, 2014 - 12:30pm | 178Read More...Speaking to Benzinga, Economist and Peak Prosperity Co-Founder Chris Martenson said that “below board” discussion on why Saudi Arabia and other members of OPEC don’t want to cut oil production lead to “non-economic” reasons. “Just look at the numbers,”...
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How Are Hedge Funds Playing Oil?
Friday, December 12, 2014 - 1:53pm | 638Read More...Oil and water do not mix. What about oil and hedge funds? Benzinga reached out to Evan Rapoport, CEO of leading hedge fund database, HedgeCo.Net for comment. With regard to energy-focused funds that trade oil-related equities, Rapoport shared three important observations: 1. Portfolio...
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TD Ameritrade Chief Strategist JJ Kinahan On OPEC Slashing Oil Production: 'We'll See The True Ramifications Over The Next Couple Of Weeks'
Thursday, December 11, 2014 - 4:47pm | 105Read More...Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan said that he doesn’t think OPEC’s decreased projection for crude production in 2015 was that much of a significant lowering. While he said it did support oil, he wasn’t sure if that was the reason for the rally in...
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Will Oil Be The Best Investment Of 2015?
Wednesday, December 10, 2014 - 3:59pm | 567Read More...Bank of America analysts believe 2015 may be the time for investors to start dipping their toes into oil again. In a recent report, analysts presented the case for cautiously venturing into oil-exposed energy stocks that have heavily underperformed in 2014 due to the collapse in oil prices....
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The Contrarian Way To Play Crashing Oil Prices
Tuesday, December 9, 2014 - 9:10am | 246Read More...Oil prices have fallen sharply over the past few weeks, dropping 13 percent since the Thanksgiving Day OPEC announcement of no production cuts. Shares of oil-related stocks, however, have dropped even further in that time frame. Shares of Ocean Rig UDW Inc (NASDAQ: ORIG), an offshore drilling...
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Brent Sinks To New Lows On Growing Glut
Tuesday, December 9, 2014 - 8:41am | 290Read More...Brent crude oil was below $66 on Tuesday morning after falling 4 percent on Monday while markets worried about the growing global supply glut. The commodity traded at $66.99 at 8:20 GMT with traders wondering where its floor would be. Crude prices have been particularly volatile since...
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Brent Makes Modest Gains In A Turbulent Market
Wednesday, December 3, 2014 - 8:55am | 297Read More...The oil market continued to respond to the growing supply glut with volatility on Wednesday as Brent crude oil made its way above $71. The commodity traded at $71.09 at 9:10 GMT as investors wondered where its floor would be after weeks of decline. On Monday, the commodity fell to a five-year...
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Citigroup On Lower Oil: Global Economic Growth Should Improve, Inflation Falls
Monday, December 1, 2014 - 4:22pm | 191Read More...Robert Buckland and a team of analysts at Citigroup commented on the falling oil price in a note to clients last week. The analysts note that a new $70 to $90 price per barrel equilibrium is likely to play out over the coming years. The price forecast assumes a "mostly supply-driven fall" in...
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#PreMarket Primer: Monday, December 1: Black Friday Disappoints
Monday, December 1, 2014 - 8:59am | 931Read More...Retail sales during the shopping weekend following Thanksgiving fell by 11 percent according to the National Retail Federation. A survey done by the group showed that shoppers average spend was also lower, down to $380.95 from $407.02 in 2013. While the lack of binge spending was disappointing,...
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Oil Tumbles Following OPEC's Thursday Decision, Equities Little Changed During Friday's Shortened Session
Friday, November 28, 2014 - 3:09pm | 699Read More...While equities market were closed on Thursday in observance of Thanksgiving, OPEC nations gathered and jointly decided to maintain current output levels despite the slide in oil prices. Virtually every oil-related company, as well as many large solar companies, saw declines in share price on...
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Exxon Mobil Washing Out Today - Could A Bounce Be In The Cards?
Friday, November 28, 2014 - 1:34pm | 550Read More...Exxon Mobil Corporation (NYSE: XOM) gapped down on the post-OPEC / nasty crude oil drop hangover Friday morning. Even though Exxon Mobil shares have held up nicely during the recent decline in crude, not even Exxon could withstand the barrage of selling pressure generated by Thursday and Friday...
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Wunderlich: Following OPEC Decision, 'We Enter The Brave New World'
Friday, November 28, 2014 - 9:30am | 260Read More...Following Thursday's OPEC meeting in which the oil producing nations agreed to maintain its 30 million barrel per day output level, Jason Wangler of Wunderlich Securities stated that we are now entering "the brave new world." "While one may argue this was a non-event, we would argue saying (or...
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UPDATE: Raymond James: Oil Prices, Oil Stocks 'Within Weeks Of Bottoming'
Monday, November 24, 2014 - 4:14pm | 304Read More...Pavel Molchanov of Raymond James believes that oil prices and energy stocks are within weeks of bottoming, regardless of the outcome from OPEC's upcoming meeting on Thursday. “That certainly does not mean that we envision a huge near-term oil rally, but even a period of stabilization...
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Benzinga Weekly Preview: OPEC, Iran On The Roster
Saturday, November 22, 2014 - 4:26pm | 2556Read More...Next week will bring about two very important deadlines for both OPEC and Iran. On Monday, November 24, Iran and world powers have set a deadline to come to a conclusive agreement over Tehran’s nuclear capabilities. Comments from the negotiations have many betting that officials will...
