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Oil Plunge Sparks Bankruptcy Concerns
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The benchmark price of U.S. crude oil dropped to $31.41 a barrel on January 11, 2016, as oil prices continued to drop sharply following a slowdown in China, appreciation in the U.S. dollar and no cuts in production from Saudi Arabia. Analysts expect a crisis for energy producers that is deeper than ones in 1986, and five plunges in oil price all the way back to 1970. With the oil prices at $30 and expected to drop below $30, the companies that took on a lot of debt have no choice but to keep up production. In the process many may find themselves in bankruptcy. Private equity with capital of $100 billion is likely to come in at this point to buy cheap assets without the debt, say analysts. U.S. banks energy portfolios are small, with Wells Fargo energy exposure only 2% for oil and gas loans in the third quarter of 2015, or about $17 billion. Loans that are rated "sub-standard. doubtful or loss," are projected at 15% of loans to energy producers, about $34.2 billion, in a biannaual review by banking regulators. The unusual aspect of this energy price slump is that production is not declining with falling prices- oil production in the U.S. was estimated by the government at 9.2 million barrels a day in Jan 2016- 1% higher than at the beginning of 2015 when prices were over $40 a barrel.
Oil prices decline to nearly $30 a barrel in January 2016
01/12/2016
Grouped Articles
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
Weak Oil Prices Curbing Production
Wall Street Journal 04/13/2016
How American Shale Drillers Flipped OPEC’s Script
WSJ 05/24/2017
Continuing decline in oil prices at the end of 2015, with likely continued decline in 2016
12/07/2015
Grouped Articles
As Oil Keeps Falling, Nobody Is Blinking
Wall Street Journal 12/07/2015
Energy Sector Rout Intensifies on Mild Weather, OPEC
Wall Street Journal 12/08/2015
Oil Prices Plunge 5% After OPEC Stands Pat
New York Times 12/07/2015
The Oil-Price Rout: Blink and You Won’t Miss It
Wall Street Journal 12/12/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
Winners and losers in emerging markets in 2015 with lower oil prices- Turkey and India are winners, China a beneficiary, Russia, Venezuela and Brazil are losers
01/18/2015
The economic prospects of emerging market countries have changed significantly since 2013. In Turkey political problems and a high current account deficit led to a slump in the lira and high interest rate policies by early 2014. In India the Congress party government let the economy drift in 2013 with no action taken. The newly elected Modi adminstration in 2014 and now lower oil prices are giving a major boost to economic growth in India. China with huge oil imports is also a beneficiary as it tackles problems from the boom years and growth slows to below 7%.
Grouped Articles
Turkey’s economy: Saved by the well
Economist 01/18/2015
Monetary policy in India: The cycle turns
Economist 01/18/2015
Oil Prices Slump as Inventories Rise Near 80-Year Highs
Wall Street Journal 02/05/2015
India Growth Rate Set to Rival China
Wall Street Journal 02/10/2015
Turkish Officials Seen Stoking Crisis as Lira Hits Record Low
Wall Street Journal 03/05/2015
A Windfall for China as Commodity Prices Plunge
Wall Street Journal 03/16/2015
U.S. gasoline prices at the pump below $2.00 and the drop in Nymex, Brent crude oil prices in fourth quarter 2014
11/01/2014
Grouped Articles
Gas is about to fall below $3 a gallon for first time since 2010 - The Washington Post
Washington Post 11/01/2014
Strong Dollar Adds to Pressures on Oil
Wall Street Journal 11/01/2014
Refining Saudi Arabia’s Oil Strategy
Wall Street Journal 11/03/2014
Oil Slide Deepens, Ruble Crumbles
Wall Street Journal 12/01/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Americans Getting Pumped for the Holidays
Wall Street Journal 12/23/2014
Effect of continuing decline in oil prices by Dec. 2015 on the bond and stock prices of energy companies and companies with large debt
12/07/2015
Grouped Articles
Energy Sector Rout Intensifies on Mild Weather, OPEC
Wall Street Journal 12/08/2015
Oil Prices Plunge 5% After OPEC Stands Pat
New York Times 12/07/2015
The Oil-Price Rout: Blink and You Won’t Miss It
Wall Street Journal 12/12/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
OPEC's loss of pricing power in 2015
06/01/2015
Saudi Arabia acting as a swing producer adjusted oil production to keep prices from falling in the period before 2015. Following the sharp drop in oil prices to below $50 in early 2015, prices steadied to about $65 for Brent crude in June 2015. The Saudi oil minister Naimi says he takes the long view on oil prices, and decides to continue Saudi production at earlier levels in June 2015. In a period of declining oil prices the Saudis and OPEC continue to produce oil at the same levels as before.
Grouped Articles
OPEC’s Pricing Leverage Is Weakening
Wall Street Journal 06/01/2015
OPEC’s Problem: There Is No Minister of Shale
Wall Street Journal 06/03/2015
Wall Street Journal 06/05/2015
OPEC, Keeping Quotas Intact, Adjusts to Oil’s New Normal
New York Times 06/05/2015
As Saudis Keep Pumping, Thirst for Domestic Oil Swells
Wall Street Journal 07/04/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
Effects of lower oil prices in 2015- (3) the effect on the airlines industry
12/10/2014
Grouped Articles
Slide in Fuel Costs Lifts Profits for Airlines, but Fares Won’t Fall
New York Times 12/10/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Wall Street Journal 01/06/2015
Falling Oil Prices, a Boon to Airlines, Pose a Challenge for Airbus and Boeing
New York Times 01/13/2015
Oil Markets: Use Your Illusion
Wall Street Journal 05/14/2015
Economic growth in the Texas Dallas-Fort Worth region following the 2015-2016 decline in oil prices
06/20/2015
Grouped Articles
Dallas-Fort Worth Keeps Texas Engine Revving
Wall Street Journal 06/20/2015
Oil Prices Plunge 5% After OPEC Stands Pat
New York Times 12/07/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
$15 Oil? It’s Already Here, in Canada
Wall Street Journal 01/15/2016
Funds Blackstone Group, Franklin Resources, Oaktree Capital, and the losses from collapse in oil prices in 2015
08/04/2015
Grouped Articles
Oil-and-Gas Debt Deals Sting Investors
Wall Street Journal 08/04/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
Blackstone Gains From Banks’ Financial-Crisis Pain
Wall Street Journal 01/22/2016
The effect of low oil prices in 2015- (7) the effect on the banking industry
01/11/2015
Grouped Articles
As Oil Prices Fall, Banks Serving the Energy Industry Brace for a Jolt
New York Times 01/11/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
The effects of lower oil prices- (7) effect on oil producing states in the U.S. (Texas, Louisiana, Alaska, N. Dakota)
01/13/2015
Grouped Articles
Oil States’ Budgets Face Crude Awakening
Wall Street Journal 01/13/2015
Crude-Oil Price Collapse Takes Toll on Williston
Wall Street Journal 03/13/2015
Oil Boom Swells North Dakota Town; What Now?
Wall Street Journal 03/18/2015
Oil Markets: Use Your Illusion
Wall Street Journal 05/14/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
The impact of the slump in oil prices to $35 and other pressures in Dec. 2015 on sovereign wealth funds
12/23/2015
Grouped Articles
The Trouble With Sovereign-Wealth Funds
Wall Street Journal 12/23/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
The impact of lower oil prices in 2014-2015 on Mexico's plans to open its oil industry to foreign investment
12/06/2014
Grouped Articles
Mexico Mulls Curtailing Energy Bids Amid Falling Prices
Wall Street Journal 12/06/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Mexico’s economy was supposed to soar. It’s starting to flop. - The Washington Post
Washington Post 08/08/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
Mexico Strains to Lure World’s Oil Giants
Wall Street Journal 09/30/2015
The effect of lower oil prices on Turkey's economy- lowering the current account deficit to 5% in 2015 from 7.9% in 2013
01/18/2015
With 6% of GDP going to oil imports the lower oil prices in 2015 helps to lower the current account deficit. The lower oil price and more capital inflows boosts growth as Turkey is dependent on capital inflows. Higher interest rates hurt growth during the emerging markets crisis in early 2014 and a drop in the value of the lira.
Grouped Articles
Turkey’s economy: Saved by the well
Economist 01/18/2015
Turkish Officials Seen Stoking Crisis as Lira Hits Record Low
Wall Street Journal 03/05/2015
Iran’s Nuclear Deal Could Open Oil Flood
Wall Street Journal 03/17/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
Turkish economy contracts amid instability | Business | DW.COM | 12.12.2016
DW.COM 12/12/2016
The effects of lower oil prices in 2015 - (4) the effect on African countries
12/12/2014
Oil exporting countries in West Africa such as Nigeria, Ghana and Angola lose oil revenues, oil importing countries in East Africa such as Tanzania, Kenya, Mozambique and South Africa benefit with lower oil import bills.
Grouped Articles
Fall in Oil Prices Threatens Africa’s Economic Growth
Wall Street Journal 12/12/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Wall Street Journal 01/06/2015
Wall Street Journal 03/25/2015
Businesses Seek Out New African Frontiers
Wall Street Journal 04/01/2015
Africa and commodity prices: No longer the kiss of death
Economist 04/30/2015
Diamondback Energy, Cimarex Energy, and Cabot Oil & Gas shale oil drillers surviving the oil price slump in 2015
07/30/2015
Grouped Articles
Chevron and Exxon Get the Plaudits, but Some Smaller Drillers Faring Well
Wall Street Journal 07/30/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
Two Years Into Oil Slump, U.S. Shale Firms Are Ready to Pump More
WSJ 09/27/2016
Dividends of oil companies in 2015-2016 as the price of oil declines sharply
11/16/2015
Grouped Articles
Oil Majors’ Dividends Survive Plunge in Oil Prices
Wall Street Journal 11/16/2015
Oil Prices Plunge 5% After OPEC Stands Pat
New York Times 12/07/2015
The Oil-Price Rout: Blink and You Won’t Miss It
Wall Street Journal 12/12/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
U.S. oil supply, demand, and prices 2011-2015
04/19/2011
Grouped Articles
Senators Pass Mexico Oil Plan as Snag Arises
Wall Street Journal 12/12/2013
Oil Stays Thick in China Downturn
Wall Street Journal 03/15/2014
Oil Glut Ignites Gasoline Price Swoon
Wall Street Journal 09/12/2014
Oil Markets Fly Into a Perfect Storm
Wall Street Journal 10/09/2014
Oil companies: Unsustainable energy
Economist 10/14/2014
OPEC Split as Oil Prices Fall Sharply
New York Times 10/13/2014
The effect of sharp oil price declines in 2015 on Saudi Aramco
02/20/2015
Saudi Aramco is seeking price cuts from suppliers as it faces a sharp decline in oil prices.
Grouped Articles
Oil-Drop Pain Spreads to Saudi Arabia’s Energy Behemoth
Wall Street Journal 02/20/2015
As Saudis Keep Pumping, Thirst for Domestic Oil Swells
Wall Street Journal 07/04/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
From Venezuela to Iraq to Russia, Oil Price Drops Raise Fears of Unrest
New York Times 08/24/2015
OPEC’s Oil Output Strategy Seen Potentially Backfiring
Wall Street Journal 11/10/2015
Saudi Arabia, Squeezed by Low Oil Prices, Cuts Spending to Shrink Deficit
New York Times 12/28/2015
OPEC supply, oil demand and oil prices 2014-2017
10/15/2014
Grouped Articles
IEA Cuts Outlook for Oil-Demand Growth by 22%
Wall Street Journal 10/15/2014
Refining Saudi Arabia’s Oil Strategy
Wall Street Journal 11/03/2014
OPEC Members Nearing Compromise on Supply Cuts
Wall Street Journal 11/26/2014
Energy Quakes as OPEC Stands Pat
Wall Street Journal 11/28/2014
Iraq Agrees on Kurdistan Oil Deal
Wall Street Journal 12/02/2014
Saudi Arabia Sees Oil Prices Stabilizing Around $60 a Barrel
Wall Street Journal 12/04/2014
The effects of lower oil prices in 2015 - (1) the effect on factories and manufacturing
12/11/2014
Grouped Articles
How Cheaper Oil Affects U.S. Factories
Wall Street Journal 12/11/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Wall Street Journal 01/06/2015
Oil-Product Prices Fall as Supplies Climb
Wall Street Journal 01/08/2015
Oil Markets: Use Your Illusion
Wall Street Journal 05/14/2015
Decline in Nigeria's currency, the Naira, as oil prices drop in 2014-2015
12/03/2014
A 10% drop in Nigeria's currency by Dec. 2014. Foreign exchange reserves drop to $2 billion in Dec. 2014 putting Nigeria in a precarious financial situation.
Grouped Articles
Nigeria’s Tumbling Currency a Victim of Falling Oil Prices
Wall Street Journal 12/03/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Fall in Oil Prices Threatens Africa’s Economic Growth
Wall Street Journal 12/12/2014
Nigeria’s Central Bank Restricts Currency Trading to Prop Up Naira
Wall Street Journal 12/19/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Iran’s Nuclear Deal Could Open Oil Flood
Wall Street Journal 03/17/2015
Projected further decline in oil demand for 2016, after the drop in oil prices in 2015
10/22/2015
Grouped Articles
Global Demand Growth for Oil May Fall by a Third in 2016
Wall Street Journal 10/22/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
How American Shale Drillers Flipped OPEC’s Script
WSJ 05/24/2017
The effects of lower oil prices in 2015- (2) the effect on oil drilling and exploration companies
12/11/2014
Grouped Articles
Oil’s Fall Puts a Chill on U.S. Drilling
Wall Street Journal 12/11/2014
Oil Prices Slip Further After IEA Report
Wall Street Journal 12/12/2014
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Wall Street Journal 01/06/2015
Oil-Product Prices Fall as Supplies Climb
Wall Street Journal 01/08/2015
BP Posts Quarterly Loss Amid Oil Price Rout
Wall Street Journal 02/03/2015
The Saudi currency, Riyal, its peg to the U.S. dollar and the impact of oil prices below $40 in 2016
01/06/2016
A weakening Riyal and the prospect of a removal of the peg to the dollar is seen as a possible economic policy action by the Saudis. Conversion to local currency of dollars at a higher rate would help the economy but pose difficulties for firms and consumers with rising import prices.
Grouped Articles
Pressure Grows on Saudi Arabia to Ditch Dollar Peg
Wall Street Journal 01/06/2016
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
Saudi Arabia Says It Remains Committed to Dollar Peg
Wall Street Journal 01/12/2016
Oil Prices at $30 Bend Nations, But Which Ones Could Break?
Wall Street Journal 01/13/2016
Saudi Arabia Keeps Pumping Oil, Despite Financial and Political Risks
New York Times 01/27/2016
Saudis Moving to Reduce Dependence on Oil Money
New York Times 04/01/2016
The effects of lower oil prices in 2015- (5) the effect on investors and stocks
12/14/2014
Grouped Articles
How Cheap Oil Complicates Investing
Wall Street Journal 12/14/2014
Obama’s Third Year May Be Charm for Stocks
Wall Street Journal 01/01/2015
Oil Prices Tumble to Fresh Lows
Wall Street Journal 01/06/2015
Wall Street Journal 01/06/2015
Oil-Product Prices Fall as Supplies Climb
Wall Street Journal 01/08/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
The effect of lower oil prices and other economic problems on the Russian economy 2015-2016
01/29/2015
Grouped Articles
Russia Lifts Crisis Cost Estimate
Wall Street Journal 01/29/2015
Iran’s Nuclear Deal Could Open Oil Flood
Wall Street Journal 03/17/2015
How Looming Recession Is Unsettling One of Russia’s Boom Cities
Wall Street Journal 03/17/2015
Russia, Brazil Mistakes Show How Inflation Can Still Arise
Wall Street Journal 05/03/2015
Oil Markets: Use Your Illusion
Wall Street Journal 05/14/2015
U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
The effect of low oil prices on oil exports dependent countries in 2015- Russia, Saudi Arabia, Venezuela, Ecuador
08/24/2015
Grouped Articles
From Venezuela to Iraq to Russia, Oil Price Drops Raise Fears of Unrest
New York Times 08/24/2015
Few in Venezuela Want Bolívars, but No One Can Spare a Dime
New York Times 10/18/2015
Venezuelan Opposition Wins Congressional Midterm Elections
Wall Street Journal 12/07/2015
Saudi Arabia, Squeezed by Low Oil Prices, Cuts Spending to Shrink Deficit
New York Times 12/28/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
Oil Prices at $30 Bend Nations, But Which Ones Could Break?
Wall Street Journal 01/13/2016
The effects of lower oil prices in 2015- (6) the effect on Japan
01/07/2015
The effect of lower oil prices is seen as hugely positive for the Japanese economy and Japanese consumers.
Grouped Articles
Japan’s Big Firms Celebrate Cheaper Crude
Wall Street Journal 01/07/2015
Oil-Product Prices Fall as Supplies Climb
Wall Street Journal 01/08/2015
Oil Prices Slump as Inventories Rise Near 80-Year Highs
Wall Street Journal 02/05/2015
Oil Plunge Sparks Bankruptcy Concerns
Wall Street Journal 01/12/2016
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