Correspondent, London
Jack's Feed
Dec 10, 2014

Oil falls below $66 on ample supply, rising stocks

LONDON, Dec 10 (Reuters) – Brent crude oil slipped below $66
a barrel on Wednesday, just above a five-year low, on mounting
signs of oversupply and lacklustre demand as global economic
growth falters.

The price of the North Sea oil benchmark has fallen more
than 40 percent since June as new supplies of high-quality crude
from North America have fed a glut of fuel in many parts of the
world.

Dec 8, 2014

Oil drops $2 to five-year low on oversupply

LONDON (Reuters) – Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output.

In a report dated Dec. 5, Morgan Stanley said oil prices could fall as low as $43 a barrel next year. The U.S. investment bank cut its average 2015 Brent base-case outlook by $28 to $70 per barrel, and by $14 to $88 a barrel for 2016.

Dec 8, 2014

Oil drops to five-year low on oversupply forecasts

LONDON (Reuters) – Brent crude oil fell almost $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output.

“Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015,” Morgan Stanley analyst Adam Longson said.

Dec 8, 2014

Oil slips towards $68 after Morgan Stanley cuts price forecast

LONDON (Reuters) – Brent crude oil fell more than a dollar to around $68 a barrel on Monday, just above five-and-a-half year lows, after Morgan Stanley cut its forecasts, saying oversupply would peak next year after OPEC decided not to cut output.

“Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015,” Morgan Stanley analyst Adam Longson said.

Dec 4, 2014

Oil falls to below $70 in post-OPEC volatility

LONDON, Dec 4 (Reuters) – Brent crude oil fell below $70 a
barrel on Thursday as investors searched for a stable price
range after a near 40 percent fall since June.

Oil prices have been volatile since the Organization of the
Petroleum Exporting Countries (OPEC) said last week it would not
lower output despite an oversupplied market.

Dec 4, 2014

Oil steadies around $70, further fall possible

LONDON, Dec 4 (Reuters) – Brent crude oil steadied around
$70 a barrel on Thursday as investors searched for a stable
price range after a near 40 percent fall since June.

Oil has been volatile since the Organization of the
Petroleum Exporting Countries (OPEC) said last week it would not
lower output despite an oversupplied market.

Nov 27, 2014

Oil at four-year low as OPEC production cut seen unlikely

LONDON (Reuters) – Brent crude oil fell $2 to a four-year low under $76 a barrel as traders speculated that OPEC was unlikely to cut output to support prices at its Thursday meeting.

Gulf producers Saudi Arabia, Kuwait, Qatar and the United Arab Emirates said they had reached a consensus on oil output policies. Sources said those countries agreed not to press ahead with output cuts.

Nov 27, 2014

Oil falls $2 to 4-year low as OPEC production cut seen unlikely

LONDON, Nov 27 (Reuters) – Brent crude oil fell $2 to a
four-year low under $76 a barrel as traders speculated that
OPEC was unlikely to cut output to support prices at its
Thursday meeting.

Gulf producers Saudi Arabia, Kuwait, Qatar and the United
Arab Emirates said they had reached a consensus on oil output
policies. Sources said those countries agreed not to press ahead
with output cuts.

Nov 26, 2014

Oil slips towards $78 as market doubts OPEC cut

LONDON, Nov 26 (Reuters) – Brent crude oil fell towards $78
a barrel on Wednesday after Saudi Arabia’s oil minister said the
oil market “will stabilise itself eventually”, ahead of a key
OPEC meeting to discuss production in response to falling oil
prices.

Traders understood the comment by Saudi Arabian Oil Minister
Ali al-Naimi to mean the cartel would not cut output when oil
ministers from the Organization of the Petroleum Exporting
Countries (OPEC) meet on Thursday in Vienna.

Nov 25, 2014

Oil steady below $80 ahead of OPEC output decision

LONDON, Nov 25 (Reuters) – Brent crude oil prices steadied
under $80 a barrel on Tuesday ahead of a key meeting of OPEC oil
producers to decide on oil production levels for next year.

Ministers from the Organization of the Petroleum Exporting
Countries were gathering in Vienna for a meeting on Thursday to
agree how to respond to a collapse in oil prices, which have
fallen by almost a third since June.