Z.C. Dutka (VA) : Venezuelan Foreign Minister Delcy Rodriguez said Saturday evening that Saudi King Salman and President Nicolas Maduro had spoken on the phone and reached an understanding concerning oil cooperation. “Both heads of state agreed to deploy joint efforts to recover the stability of the oil market and strengthen OPEC,” Rodriguez said on Twitter. Maduro has […]
Posts Tagged ‘oil prices’
Oil could plunge to $20 in doomsday scenario, Goldman says
Oil could plunge as low as $20 a barrel amid a glut of production around the world, Goldman Sachs analysts said Friday in a new report. That’s a level not seen in more than a decade. “Although oil prices have revisited the lows of last winter, this time both financial and […]
Oil Prices Will Fall: A Lesson In Gravity
The oil price collapse is not over yet. It is more likely that the Brent price could fall back into the mid-$50 range than that it will continue to rise toward $70 per barrel. That is because oil prices have risen based on sentiment alone. The fundamentals of supply and demand indicate a dismal […]
Low retail sales numbers hint to economic problems ahead
From Filip Karinja, for Birch Gold Group Despite optimistic expectations, recent reports show that U.S. retail sales for April were flat. Many had expected that the lower-than-average gas prices would provide a lift, but even with prices plummeting by close to a whopping 50% over last year, there was no reflection in the retail sales numbers. Now, with oil […]