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Tag Archives: Oil Prices

Energy expert says oil prices won’t top $100 a barrel

oil prices

Following a stunning decline, oil prices have clawed back near the $50 level this year. Production boomed in the U.S. but is now slumping. Globally, OPEC is in disarray and major producers can’t agree on steps to boost prices. Daniel Yergin is the vice chairman of research firm IHS Inc. He has written two books on energy, including the Pulitzer-winning ...

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Moody’s downgrades Saudi Arabia on lower oil prices

Saudi Arabia, oil prices

NEW YORK (AP) — Saudi Arabia’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices. Moody’s Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar. Saudi Arabia is the world’s largest oil exporter. Moody’s cut ...

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Energy producers weather historic oil market collapse

Energy producers weather historic oil market collapse

The oil market collapse has put more pressure on energy producers than ever before, causing an unprecedented financial crisis, according to industry officials. On average, an oil company earns only $26 for each barrel of oil sold at current oil prices, according to a report by the Houston Chronicle. In February, oil prices in the United States fell to a ...

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US stocks slip, oil hits highest price since November

US stocks slip, oil hits highest price since November

NEW YORK (AP) — U.S. stocks are slightly lower in Wednesday morning trading as tech stocks are hammered following weak results from Apple and Twitter. Energy companies continue to rise as the price of oil reached its highest price since November. KEEPING SCORE: The Dow Jones industrial average dipped 40 points, or 0.2 percent, to 17,950 as of 10:06 a.m. ...

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US stocks recover, oil prices drop after Doha meeting

US stocks recover, oil prices drop after Doha meeting

U.S. stocks moved higher in morning trading Monday, recovering from an early slump after major oil-producing nations failed to hammer out a deal over the weekend to cut oil production, sending oil prices lower. Consumer discretionary and financial companies were among the biggest gainers. KEEPING SCORE: The Dow Jones industrial average rose 45 points, or 0.3 percent, to 17,943 as ...

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Oil meeting in Qatar collapses without freeze as Iran absent

Oil meeting in Qatar collapses without freeze as Iran absent

DOHA, Qatar (AP) — A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia. Oil prices, which hit a 12-year low in January by dipping under $30 a barrel, had risen above $40 in ...

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Stocks decline broadly in early trading in US

stocks decline, wall street

U.S. stocks edged broadly lower in early trading Wednesday as lower prices for oil and metals weighed on mining and energy companies. Investors were poring over the latest batch of company earnings news, including disappointing results from Nike. KEEPING SCORE: The Dow Jones industrial average fell 18 points, or 0.1 percent, to 17,564 as of 10:16 a.m. Eastern Time. The ...

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