Tag: OPEC

How Long Will The Oil Glut Last?

One of the main factors that dragged down oil prices is the glut in oil supply, in part, driven by higher OPEC output. Low oil prices has already started to bring down output of non-OPEC countries. But is this enough…

Do Oil Rig Counts Matter?

In the past few weeks oil has demonstrated signs of recovery. This rally was driven, in part, by the adjustments in market expectations of a slowdown in the U.S. oil production as major oil producers have been cutting down their…

Oil Price Falls To A New Low

The ongoing weakness in oil market has also dragged down the price of United States Oil Fund (USO), which has fallen by 10% since the beginning of year. Is Saudi Arabia capable of further driving down the price of oil?…

USO Investors — Beware of The Contango!

USO WTI 2008

The current low oil prices have raised the interest of some investors to go long on oil in the hopes that prices will eventually recover to their levels recorded in the past couple of years. For those who consider taking…

What Is Keeping Down Oil Prices?

The ongoing weakness in the oil market made me examine again the recent developments in the oil market. Some analysts suggest the growing U.S. production is the driving force behind the fall in oil prices. But I still think that…

The Oil Market Continues to Loosen

The price of oil tumbled down last week to the mid 60’s and remained at this level since then. OPEC’s decision to keep its quota unchanged has fueled this plunge in prices. But the main issue will also remain the…

What Brought Down Oil Prices?

United States Oil (USO) tumbled down again in the past few months and reached its lowest level this year. Also, the price of WTI oil plunged by over 10% this month (up to date) to $82. Will prices keep coming…

Is Oil Heading towards a New Year Low?

United States Oil (USO) resumed its downward trend as it fell by nearly 3% since the beginning of October. Let’s review some of the latest developments related to USO that could impact its direction and performance. The chart shows the…