Oil Glut Expected to Last a While
Even if Saudi Arabia wins its struggle with U.S. shale producers over market share, it will face a new billion-barrel adversary. It won’t be regional nemesis Iran, a resurgent Iraq or long-standing competitor Russia. The answer will be more prosaic: Even when overproduction ends, a stockpile surplus of more than 1 billion barrels built up since 2014 will remain, weighing on prices. Inventories will keep accumulating until the end of...
Business of Agriculture: The threat of falling oil prices
Can fruit and vegetable farms in the Upper Valley survive the tumbling price of fuel? That’s a question I’ve been thinking about lately, with more than a little alarm, as both gas and diesel have fallen below the $2 per gallon mark. That’s less than half of what they were a few years ago. You might think that tumbling fuel prices would be good for local fruit and vegetable farmers, since we use gas in our trucks, diesel in our...
Business of Agriculture: The threat of falling oil prices
Can fruit and vegetable farms in the Upper Valley survive the tumbling price of fuel? That’s a question I’ve been thinking about lately, with more than a little alarm, as both gas and diesel have fallen below the $2 per gallon mark. That’s less than half of what they were a few years ago. You might think that tumbling fuel prices would be good for local fruit and vegetable farmers, since we use gas in our trucks, diesel in our...
Russia and Saudis Fix Oil Output
Saudi Arabia and Russian oil ministers agreed to freeze — but not cut — crude oil output at near-record January levels, a highly unusual pact between the world’s leading OPEC and non-OPEC petroleum producers. Qatari and Venezuelan oil ministers also joined the agreement in a meeting Tuesday in Doha, but the accord did not include Iran, which is seeking to ramp up oil output after the lifting of sanctions related to its nuclear...
U.S. Stocks Halt Slide Amid Oil Rally
New York — U.S. stocks halted a five-day slide that dragged global equities into a bear market, as oil rebounded with its best day in seven years and bank shares jumped the most since 2011. Treasuries had the biggest drop of the year. The Standard & Poor’s 500 index’s rally trimmed its loss for the week to less than 1 percent amid data showing higher retail sales. Lenders rallied 4 percent after JPMorgan Chase & Co.’s Jamie...
