• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Minerals
    Tech
    Life Science
    Oil and Gas Market
    Oil and Gas News
    Oil and Gas Stocks
    • Oil and Gas Market
    • Oil and Gas News
    • Oil and Gas Stocks
    market news

    No End in Sight to Oil Glut, Causing Further Declines

    Investing News Network
    Jan. 08, 2015 01:13PM PST
    Oil and Gas Investing

    There appears to be no end in sight for the declines currently affected the oil market as prices continue to reach new low levels unseen in five years.

    There appears to be no end in sight for the declines currently affected the oil market as prices continue to reach new low levels unseen in five years.

    According to Bloomberg:

    Oil’s collapse has been so rapid and so driven by sentiment that forecasters from Bank of America Corp. to UBS AG say there are no clear signs of when the rout will end. The U.S. is pumping the most crude in more than three decades as horizontal drilling and hydraulic fracturing unlock shale reserves, adding to a global supply glut that Qatar estimates at 2 million barrels a day.

    Helima Croft, chief commodities strategist at RBC Capital told Bloomberg:

    The Saudis are providing no support for the market. It looks like they will let prices continue to fall, taking as much non-OPEC production offline as possible.

    Click here to read the full article.

    horizontal drillingbank of americamarket newsoil market
    The Conversation (0)

    Go Deeper

    AI Powered

    Alaska North Slope oil decline to slow

    Oil Prices Fall on Oversupply Issues

    Latest News

    Coelacanth Energy Inc. Announces Increased Bank Credit Facility and Provides Operations Update

    Coelacanth Energy Inc. Engages ICP Securities Inc. for Automated Market Making Services

    80 Mile PLC Secures 3 Strategic MOUs with Fortune 500 Energy Group, Ludoil, and JEnergy and moves to 100% of Ferrandina Biofuels Plant

    CHARBONE Announces the Official Start of Civil Construction Work in Sorel-Tracy, in Line with the Announced Schedule

    CHARBONE annonce le debut officiel des travaux de construction civil a Sorel-Tracy, conformement a l'echeancier annonce

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES