U.S. oil could return to 2008 low of $32 in Citigroup view
Crude has tumbled more than 30 percent since June amid signs that producers are maintaining output even after oil fell back into a bear market.
View ArticleCitigroup report: Worries of $33 oil leaving markets “nervy”
The new "How low can oil go?" report contends that capital markets are "getting nervy" and one of the only ways to stop this downward trend is for North American shale companies to lose more access to...
View ArticleGas exports from Iran, Egypt seen threatening U.S. ambitions
Projects from North America to East Africa and Australia may be impacted as Iran progresses with its "supergiant" South Pars gas field and after Eni SA’s discovery of massive resources offshore Egypt.
View ArticleCitigroup sees U.S. oil production falling 500,000 barrels per day by end of...
High-cost oil producers in the U.S. have been forced to scale back in the past year after members of OPEC decided to maintain output to defend their market position.
View ArticleCitigroup, citing climate change, will reduce coal financing
Citigroup said its credit exposure to coal mining had “declined materially" since 2011 and that the trend would continue into the future.
View ArticleNew way to bet on oil wipes out billions in investor savings
For years, brokers have been luring savers into drilling partnerships with the promise of fat payouts. But now this once hot business, a big source of fees for brokers and banks, is coming to a messy end.
View ArticleOil falls despite U.S. crude inventory decline
Oil prices jumped after U.S. data showed the nation’s stockpile of crude shrank by 3.6 million barrels.
View ArticleBanks increasing credit squeeze on drillers
Banks that have cut billions of dollars from U.S. oil and gas drillers’ credit lines are trying to make it even harder for the beleaguered companies to borrow. At least three law firms have been hired...
View ArticleEnergy chiefs go public on Trump
The ideas and policies of President Donald Trump have dominated energy discussions on airwaves in recent weeks. Oil and gas companies had largely kept their thoughts to themselves. But over the last...
View ArticleWall Street keeps faith in oil recovery
Prices have sunk, stockpiles ballooned and doubts about OPEC’s effectiveness grown, yet Wall Street hasn’t lost faith in oil’s recovery. Crude fell below $50 a barrel in New York last week on signs...
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