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Oil Falls Most Since 2015 on Fears of Oversupply
Keywords: Oil Prices, Opec, Iran Sanctions, Russia Oil,
Oil prices in the U.S. drop to $55 a barrel on the New York Mercantile Exchange, and $65 a barrel for Brent crude price. Earlier expectation of the impact of reimposed sanctions on Iranian oil shrinking global oil supplies have been reversed with increased production from Saudi Arabia, Russia and the U.S.
Another new development that caused this reversal in sentiment is that the Trump administration granted waivers to some buyers of Iranian crude oil. The U.S. trade dispute with China has also added to this with lower growth forecasts. Unlike in previous years OPEC or Saudi Arabia cannot by itself shrink global supplies with production cuts. The U.S. and Russian output also plays a significant part.
Saudi Arabia and oil prices- 2011-2018
02/04/2006
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Oil Falls Most Since 2015 on Fears of Oversupply
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Saudis Struggle to Share Pain of Pumping Less Oil
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US oil sanctions on Iran anger Asian powers
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Oil Falls Most Since 2015 on Fears of Oversupply
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The Russian economy in 2016 following the collapse in oil prices
04/12/2016
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Why the Russian Economy Is Tumbling
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For the Kremlin, winning a supermajority in the Russian parliament was the easy part
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U.S. Sanctions Give Russian Economy an Unintended Boost
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Oil Falls Most Since 2015 on Fears of Oversupply
WSJ 11/13/2018
Saudis Struggle to Share Pain of Pumping Less Oil
WSJ 11/30/2018
How the Saudis are coping with lower oil prices and revenues- cutting gasoline subsidies and other spending to reduce budget deficits in 2016
12/28/2015
Gasoline prices for some grades of gasoline sold in Saudi gas stations will increase by 50% as the Saudi Finance Ministry copes with dropping oil revenues. The 2016 budget shows adeficit of $87 billion compared to $98 billion in 2015. At this rate Saudi Arabia would exhaust its foreign exchange reserves of $640 billion by 2020. Saudi Arabia has a rapidly growing population which will increase budget pressures and local oil demand. Its defense spending to counter Iran and Russia in the Syria-Iraq conflict and in Yemen also affect spending. Lower oil prices are partly a result of the geopolitical conflict in the region and rivalry betweeen Iran backed by Russia and Sunnis led by the Saudi and Emirates, as well as technology in shale oil production. This comes at a good time for China as it slows, India as it increases its growth rate, and the U.S. and Eurozone as their economies recover from a deep recession, Japan as it improves its economy from low or no growth. For Russia it is seen as away to shift away from imports to domestic industry. For the Saudis an opportuntiy to cut subsidies and improve the productivity of spending.
Grouped Articles
Saudi Arabia, Squeezed by Low Oil Prices, Cuts Spending to Shrink Deficit
New York Times 12/28/2015
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
Oil-Price Poker: Why the Saudis Won’t Fold ‘Em
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Young Saudis See Cushy Jobs Vanish Along With Nation’s Oil Wealth
New York Times 02/16/2016
Weak Oil Prices Curbing Production
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The Russian economy in 2017-2018- declining ruble from sanctions and rising oil prices
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U.S. Sanctions Give Russian Economy an Unintended Boost
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Oil Falls Most Since 2015 on Fears of Oversupply
WSJ 11/13/2018
Saudis Struggle to Share Pain of Pumping Less Oil
WSJ 11/30/2018
The Modi administration's budget for India in 2015 aims for 7.4% growth- allowing a fiscal deficit at 3.9% and increased spending on infrastructure
02/28/2015
The $288 billion budget aims to increase infrastructure spending to achieve a growth rate of 7.4%. A 2% tax on the superrich and rigorous penalties of 10 years imprisonment for tax evasion by sending money overseas are efforts to improve tax revenues in a country where it is estimated only 35 million Indians pay taxes. The lower oil prices help reduce pressures from fiscal deficits, and the decision was taken to let the fiscal deficit increase to 3.9% in the interests of growth.
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Hostility From U.S. as China Lures Allies to New Bank
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India’s Debt Pileup Complicates Growth Plans
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Oil-Thirsty China a Winner in Iran Deal
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In a Victory for Modi, India Overhauls Its Tangled Tax System
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OPEC policy and oil prices- 2013-2018
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OPEC Rift Emerging Over Iraq Output, Possible Return of Iran
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OPEC, Foreseeing No Glut, Keeps Oil Production Level Steady
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Venezuela Could Force Oil Market to Take Stock
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Oil Prices Continue Decline, Pressured by Saudi Action to Defend Market Share
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OPEC Members’ Discord Adds to Slide in Oil Prices
Wall Street Journal 10/04/2014
Oil Markets Fly Into a Perfect Storm
Wall Street Journal 10/09/2014
Resilience of the Russsian economy to the fall in oil prices and the decline in the ruble in 2015-2016
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Grouped Articles
Russia and Turkey Show Oil Prices Aren’t Everything
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Oil Falls Most Since 2015 on Fears of Oversupply
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Saudis Struggle to Share Pain of Pumping Less Oil
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The effect of lower oil prices and other economic problems on the Russian economy 2015-2016
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Grouped Articles
Russia Lifts Crisis Cost Estimate
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Iran’s Nuclear Deal Could Open Oil Flood
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Russia, Brazil Mistakes Show How Inflation Can Still Arise
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Oil Markets: Use Your Illusion
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U.S. Oil Prices Hit Fresh Six-Year Low, Dipping Below $40 a Barrel
Wall Street Journal 08/23/2015
Oil prices in 2018 - the effect of Trump administration sanctions on Iranian oil
09/24/2018
Grouped Articles
Oil Producers Debate Best Way to Contain Crude Prices
WSJ 09/23/2018
Oil Falls Most Since 2015 on Fears of Oversupply
WSJ 11/13/2018
Saudis Struggle to Share Pain of Pumping Less Oil
WSJ 11/30/2018
US oil sanctions on Iran anger Asian powers
The Times 04/22/2019
The effect of Iranian oil following lifting of sanctions on global oil supplies and prices 2015-2016
07/14/2015
Grouped Articles
Iran’s Discount Deal for Global Oil
Wall Street Journal 07/14/2015
U.N. Moves to Lift Iran Sanctions After Nuclear Deal, Setting Up a Clash in Congress
New York Times 07/20/2015
The Global Battle for Oil Market Share
Wall Street Journal 12/16/2015
Oil glut dampens Iran’s hopes for big cash flows as sanctions lift - The Washington Post
Washington Post 01/17/2016
Iran Complies With Nuclear Deal; Sanctions Are Lifted
New York Times 01/16/2016
Battered by War, Iraq Now Faces Calamity From Dropping Oil Prices
New York Times 01/31/2016
India's surging oil imports with a depreciating rupee in 2011-2015
04/11/2012
Grouped Articles
Rupee Throws Oil on India's Subsidy Problem
Wall Street Journal 08/21/2013
India Grapples With Soaring Energy Costs
Wall Street Journal 04/11/2012
India Cuts Back on Iran Oil Imports
Wall Street Journal 05/03/2012
U.S. Presses India On Iran Oil Buys
Wall Street Journal 05/09/2012
India Takes New Steps to Boost Sagging Rupee
Wall Street Journal 05/11/2012
Grinding Energy Shortage Takes Toll on India's Growth
Wall Street Journal 07/02/2012
India's budget and oil prices
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Grouped Articles
Oil Falls Most Since 2015 on Fears of Oversupply
WSJ 11/13/2018
Oil prices cloud India’s macroeconomic outlook
https://www.hindustantimes.com/ 05/13/2019
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