Tag Archives: opec

Oil prices stable after OPEC signals possible further action

OPEC

Oil prices stabilized on Monday after one of the most bearish weeks in months, propped up by OPEC comments signalling the possibility of further action to restore market balance in the long term. Oil production platforms in the Gulf of Mexico started returning to service after Hurricane Nate had forced the shutdown of more than 90 percent of crude output ...

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The Oil Market Is At A Major Turning Point

oil

Often the most important turning points in markets, and in this case the oil market, happen with a whimper rather than a bang. The ongoing crash in the oil market is mostly associated with OPEC’s fateful 2014 Thanksgiving Day decision to abstain from a production cut, thus sending the oil prices tumbling down by close to 10 percent in a ...

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