Oil
OPEC’s crude oil cuts utterly ineffective
Yesterday, crude oil futures prices closed at nearly a 17-month low. Bulls talking up an OPEC cut just couldn’t silence the drumbeat of falling demand growth and a sagging economy.
Light, sweet crude for December delivery settled down 93 cents, or 1.5%, at $63.22 a barrel on the New York Mercantile Exchange, the lowest [...]
The economy is crumbling beneath our feet - but at least we can travel on the cheap!
With the market still doubled over from economic gut punches this week and last, many of our readers feel like their 401K’s may not ever carry them to a sunny retirement in Florida. Well, with the way Crude Oil prices have been falling, maybe you can still travel there from time to time.
Crude-oil futures sank [...]
The Domestic Crude Oil Revolution - The bottom is falling out of Crude Oil Prices
The bottom is falling out of the price of crude oil, Nancy Pelosi and the Democrats are caving to the public’s demand for more drilling and now, finally, we’re seeing a revolution in domestic oil production with even more fallout in crude oil prices on the way.
In a recent appearance on The Daily Show, House [...]
Crude Oil Prices, Iran, U.S. covert operations and an Indian Pipeline
That’s a lot of title to swallow, but it’s such an interesting puzzle. The media tends to simplify things and lately that has manifested itself in the reporting on the booming oil industry. Oil prices are at all-time highs, producers are defending the price of crude oil, countries where oil is in high demand are complaining, [...]
The History and Analysis of Crude Oil Prices - Part V “The Impact of Crude Oil Prices on Industry Segments”
Crude Oil Drilling and Exploration Boom and Bust
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The Rotary Rig Count is the average number of drilling rigs actively exploring for oil and gas. Drilling an oil or gas well is a capital investment in the expectation of returns from the production and sale of crude oil or natural gas. Rig count [...]
The History and Analysis of Crude Oil Prices - Part IV “OPEC’s Failure to Control Crude Oil Prices”
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OPEC has seldom been effective at controlling prices. While often referred to as a cartel, OPEC does not satisfy the definition. One of the primary requirements is a mechanism to enforce member quotas. The old joke went something like this; “What is the difference between OPEC and the Texas Railroad Commission? [...]
The History and Analysis of Crude Oil Prices - Part III “Middle East Supply Interruptions”
Yom Kippur War - Arab Oil Embargo
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In 1972 the price of crude oil was about $3.00 per barrel and by the end of 1974 the price of crude oil had quadrupled to over $12. The Yom Kippur War started with an attack on Israel by Syria and Egypt on October 5, 1973. [...]
The History and Analysis of Crude Oil Prices - Part II “Post World War II”
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The Pre-Embargo Period
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Crude Oil prices ranged between $2.50 and $3.00 from 1948 through the end of the 60s. Oil prices rose from $2.50 in 1948 to about $3.00 in 1957. In 2006 dollars, an entirely different story emerges with crude oil prices fluctuating between $17 and $18 during the [...]
The History and Analysis of Crude Oil Prices Part I
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The price of Crude Oil behaves similar to other commodities with wide price swings in times of shortage or oversupply. The crude oil price cycle may extend over several years responding to changes in demand as well as OPEC and non-OPEC supply.
The U.S. petroleum industry’s price has [...]
The Price of Crude Oil Chart
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The price of crude oil has risen steadily for over a century. As you can see from The Price of Crude Oil Chart, this rise is sometimes very dramatic. This chart will help you put the recent and historical [...]
