Authored by Osama Rizvi via OilPrice.com,
Amidst the din of analysts speculating about whether oil prices will rise or fall, observers may well be overlooking some pressing questions about the very nature of the global oil market. The most significant of these questions relates to whether Saudi Arabia is losing its grip on the global oil market and if U.S. oil and gas producers are replacing the Saudis as the key global swing producer.
Bondholders confirmed that Venezuela's state-owned oil company PDVSA made principal and interest payments of $2.2 billion today, avoiding default yet again despite what Vice President Tareck El Aissami called a "ruthless economic war" being waged against the Maduro government.
That's the good news, the bad news is that PDVSA has $62 billion more in principal and interest due over the next few years...
Authored by Jacob Urban via OilPrice.com,
Ahead of tonight's API inventory data, WTI Crude prices wer fading after 5 straight days higher. That was until WSJ reports Saudi Arabia wants OPEC to extend production cuts, sending oil prices spiking higher...
Authored by Cyril Widdershoven via OilPrice.com,