Goldman Sachs has lowered its stock market estimates for 2016, as oil prices have still not shown any signs of recovery from their long-running slump. The continuing poor performance of oil and other commodities is […]
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Tag: Oil PRices
Saudis Consider IPO For World’s Biggest Oil Producer
Saudi Arabia is considering taking its state-owned oil behemoth public. According to deputy crown prince Mohammed bin Salman, the IPO for Saudi Aramco could take place in the coming months. By selling shares, Saudi Arabia […]
Russia’s Reserve Fund Could Be Exhausted In 2016 If Oil Continues Decline
Anton Siluanov, Russia’s Finance Minister, painted a somewhat grim picture of the Russian economy this morning when he said there was a real possibility that the country’s Reserve Fund could be exhausted in 2016 if […]
Saudi Arabia Delays Payments To Contractors As Government Tries To Preserve Cash
As oil prices continue to slump, Saudi Arabia has been forced to delay payments to its government contractors. For the first time since 2009, the government has been pushed into a deficit – and it […]
Norway To Dip Into Sovereign Wealth Fund As Oil Prices Continue To Fall
News for the global economy continues to be bleak. Norway, which has the world’s largest sovereign wealth fund, could start to make withdrawals from the $830 billion fund as early as next year. The fund, […]
Saudi Arabia Is Going Broke Because Of Declining Oil Prices
Financial troubles are looming in Saudi Arabia, as the country has taken nearly $70 billion from global asset managers in an attempt to curb its budget deficit. The country is attempting to stop the decline […]
Russia Is Literally Going Broke Thanks To A Plunging Ruble And Low Oil Prices
Plunging oil prices and a weakening ruble have hammered Russia’s economy to its lowest point since 2009 according to recent reports. As the Ukraine crisis drags on and sanctions against the country continue to limit […]
Star Oil Trader Loses Hundreds Of Million On Low Oil Prices
The hedge fund run by oil trading god Andy Hall has gotten hammered by the recent crash in oil prices. Hall’s Astenbeck Capital Management lost a stunning 17% in July. The enormous dive is the […]
Iran Nuclear Deal Likely To Cause Sustained Drop In Oil Prices
Terrible days lie ahead for oil exporters after the Iran nuclear deal opened the world to additional oil supplies from the oil rich country. Already blessed with some of the deepest oil reserves in the […]
Iran Nuclear Deal Could Lead To $2 Per Gallon Gasoline
Later this year, drivers in the U.S. can anticipate gas prices dropping into the $2 range due in part to the Iran nuclear deal that was announced Tuesday. Once the Iranian oil markets are open, […]
Why Electric Car Sales Have Tanked Lately
Ford just laid off 700 Michigan plant workers working on small cars and hybrid manufacturing The Detroit News reported yesterday. Specifically, Ford said that it is cutting a shift at its Michigan Assembly Plant where […]
Why Oil Prices Could Stay Low For Years
Oil prices have been rallying lately and there is mounting evidence that oil prices are poised to rebound from a historic bust. – Rig counts hit new lows this week. Baker Hughes says the U.S. […]