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Jan 27, 2015

Oil to stay lower for longer; Chinese demand growth to slow – Goldman

LONDON, Jan 27 (Reuters) – Oil prices will stay lower for
longer after more than halving since June, Goldman Sachs’
chief commodity analyst said, arguing in his latest research
note that demand growth in China and other emerging economies is
set to slow.

Goldman’s Jeff Currie, who rose to prominence forecasting
oil’s spike above $100 a barrel last decade, said the rise of
U.S. shale output had realigned energy markets, making China a
bigger and more important consumer than the United States.

Jan 22, 2015

Oil drops to $48 after ECB launches QE, U.S. crude stocks jump

LONDON, Jan 22 (Reuters) – Brent crude oil fell towards $48
a barrel on Thursday after the European Central Bank said it
would start buying government bonds, a move which could push the
dollar to new highs against the euro and put downward pressure
on commodities.

Exceeding market expectations, ECB President Mario Draghi
said the bank would buy 60 billion euros ($69 billion) of
government bonds a month until the end of September 2016 to
support the flagging euro zone economy.

Jan 14, 2015

Oil traders looking for LUV as they trace uncertain recovery

LONDON, Jan 14 (Reuters) – As oil’s near 60 percent fall
shows little sign of abating, traders are starting to ask what
the eventual recovery will look like: slow and drawn out, a
rapid rebound, or somewhere in between?

They call it the LUV trade – will the future oil price chart
be shaped like an L (a sharp fall followed by a prolonged period
of lower prices), a U (a sharp fall, a short period of lower
prices, before an eventual recovery) or a V (a sharp fall
followed by an almost immediate rebound)?

Jan 7, 2015

With oil freefall unrelenting, traders quit betting on bottom

NEW YORK/LONDON, Jan 7 (Reuters) – Oil traders can agree on
only one thing about when the second-biggest price rout on
record will be over: not yet.

Crude oil’s freefall from more than $100 a barrel
last summer to a near six-year low under $50 a barrel has been
unrelenting, shocking traders and baffling analysts who have all
but given up trying to pinpoint the bottom of the market.

Jan 6, 2015

Hedge fund manager Andurand strikes gold again by betting on oil crash

LONDON, Jan 6 (Reuters) – Energy hedge fund Andurand Capital
returned 38 percent in 2014 betting on the collapse in oil
prices, a source familiar with the matter said on Tuesday,
emerging as one of the biggest winners from the near halving in
crude since June.

French fund manager Pierre Andurand, who made his name in
2008 by calling the sharp rise and subsequent collapse in oil
prices that year at his BlueGold fund, launched Andurand Capital
in 2013.

Jan 2, 2015

Oil reverses early gains, trades near $57 as supply glut prevails

LONDON (Reuters) – Brent crude reversed early gains to trade near $57 a barrel on Friday, as the glut of oil that has halved prices since June overshadowed investors repositioning at the start of the year for an eventual recovery.

Brent has fallen to its lowest since 2009 as top exporter Saudi Arabia and other large Gulf producers have declined to cut production in the face of fast-growing U.S. shale oil output, despite pleas from other members in the Organization of the Petroleum Exporting Countries (OPEC).

Jan 2, 2015

Brent turns lower, heads towards $57 as supply glut fears prevail

LONDON (Reuters) – Brent crude LCOc1 slipped towards $57 after an early rise above $58 on Friday, as the glut of oil that has halved prices since June overshadowed investors repositioning at the start of the year for an eventual recovery.

Brent has fallen to its lowest since 2009 as top exporter Saudi Arabia has declined to cut production in the face of fast-growing U.S. shale oil output, despite pleas from other members in the Organization of the Petroleum Exporting Countries (OPEC).

Dec 18, 2014

Brent oil rises above $62 as energy firms slash investments

LONDON (Reuters) – Brent crude jumped 2 percent to above $62 a barrel on Thursday, as some traders bet a six-month price rout could be ending as more energy firms cut investment budgets.

Oil this week hit a five-year low of $58.50 and has almost halved since June as fast-growing U.S. shale output overwhelmed demand, with losses accelerating after OPEC decided not to cut output at its meeting last month.

Dec 17, 2014

Iraqi Kurdistan says oil exports could total 800,000 bpd next year

LONDON, Dec 17 (Reuters) – Iraq’s semi-autonomous Kurdistan
Regional Government will ramp up oil exports in the coming
months, moving it closer to economic self-sufficiency while it
works to clinch a final deal with Baghdad on crude sales and
revenue sharing.

KRG natural resources minister Ashti Hawrami told a
conference in London the Kurd’s pipeline to Turkey could carry
800,000 barrels per day next year, including 550,000 bpd to be
marketed by Baghdad under a first-stage deal reached this month.

Dec 17, 2014

Kurdistan says nearing economic self-sufficiency on oil boom

LONDON (Reuters) – Iraq’s semi-autonomous region of Kurdistan will see a steady rise in oil exports in the coming months, moving it closer to economic self-sufficiency, while it is still hoping to clinch a final deal with Baghdad on oil exports and revenue sharing.

Kurdistan this month reached a limited agreement with Baghdad on oil exports after months of wrangling. The federal government had cut off Kurdistan’s budget allocation in response to the autonomous region’s decision to export oil unilaterally.