Tag

oil producers

Article, Economy / Finance, Government and Politics, International

It’s back to normal for oil after Doha distraction

April 18, 2016

The world oil market can return to normal, at least the normal that has characterized it for the last couple of years, now that a hyped-up meeting of major oil producers has ended without striking a deal to freeze production and bolster prices. The mere hint that Saudi Arabia, Russia and other major oil producers would follow through on a commitment to limit oil output to January levels had contributed substantially to a 50% rebound in prices for the commodity since February, when the goal was announced. But even as delegates from the producing nations arrived in Doha over the weekend, expectations were widespread that the unusual meeting would end in stalemate, as it did on Sunday. (Read more)

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by Bill Loveless
Article, Corporations, Energy

U.S. impact after oil exports resume? Jury’s out

December 16, 2015

U.S. oil producers are preparing to celebrate the end of 40 years of restrictions on exports of crude oil, thanks to a provision in a massive government spending bill awaiting congressional approval. With oil prices recently at seven-year lows and showing no signs of recovery soon, domestic producers say the policy change would give them the same access to global markets that their foreign competitors have enjoyed for years. But the benefits may be more hypothetical than certain, at least for now. (Read more)

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by Bill Loveless
Article, Consumer, Corporations, Economy / Finance, Energy

Oil producers see price slump outlasting recent rally

May 10, 2015

Oil prices have rallied lately, but not enough to persuade producers that a nearly year-old slump will end any time soon. Take Doug Suttles, the president and CEO of Alberta, Canada-based Encana Corp., who was in the midst of transforming his company from primarily natural gas production to oil production when oil prices began to plunge last June. (Read More)

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by Bill Loveless