TEXAS ENERGY REGULATOR DELAYS OIL PRODUCTION VOTE UNTIL MAY 5
—Wants Time To Assess Legal Risks, Potential Industry Impact By Brai Odion-Esene, SW4 Insight, for Mace News WASHINGTON (MaceNews) – A divided Texas Railroad Commission Tuesday postponed its vote on limiting oil production in the nation’s largest oil-producing state, with the majority preferring to conduct additional due diligence and avoid potential legal minefields. “We need […]
WHITE HOUSE WATCH: IS OIL SPECIAL OR LOTS OF BOTTOMLESS HOLES?
By Denny Gulino WASHINGTON (MaceNews) – It’s the night of the living dead in Houston, where the unthinkable happened, oil became worthless. In fact, oil became even worse than worthless. It was a day so bad that you had to pay people to take it. If you were a trader who never took delivery, only […]
WHITE HOUSE WATCH: ‘DECLINING TRAJECTORY’ DOES NOT NECESSARILY MEAN DECLINING
By Denny Gulino WASHINGTON (MaceNews) – The first rule of virus reporting is to focus on what the virus is doing, despite the many distractions from the White House and statehouses, from anti-mitigation demonstrations to progress reports on testing and the chronic complaints of short supplies. On a beautiful Sunday in many parts of the […]
BANK OF CANADA’S POLOZ: BETTER ECONOMIC OUTLOOK IS ACHIEVABLE
By Gloria Galloway OTTAWA (MaceNews) – The Bank of Canada is laying out two economic prospects for the country as it recovers from devastating effects of the global pandemic – one positive and one negative – but the bank’s governor says he is optimistic that the better-case scenario is achievable. In its Monetary Policy Report […]
OIL PRODUCERS WRESTLE W/PRODUCTION CUTS; MKT YAWNS
WASHINGTON (MaceNews) – The United States, OPEC members and other oil-exporting countries Friday wrestled with a daunting task, to persuade traders and customers that they can do something to overcome the biggest destruction of demand in the history of the oil industry. Even the White House tried to square the circle by promising to help […]
DATA FLASH: US MARCH CPI FALLS 0.4% ON ENERGY DROP, CORE DIPS 0.1%
-Travel Restrictions Slash Prices for Hotels, Airline Fares -Consumer Inflation Remains Tame, Food Prices Up on Grocery Shopping By Kevin Kastner WASHINGTON (MaceNews) – Consumer prices fell more than expected in March, with a plunge in energy prices the main factor due to falling oil prices and a reduced demand for gasoline due to telecommuting […]
Faced With ‘Horrifying’ Oil Market Conditions, OPEC-Plus Agrees To Record Supply Reduction
VIENNA/WASHINGTON (MaceNews) – The OPEC-plus group of major oil producing countries – the oil cartel’s members as well as Russia and Mexico – hammered out a tentative deal Thursday, in a marathon negotiating session, to slash their oil output levels collectively by 10 million barrels per day. Saudi Arabia and Russia, the primary combatants in […]
Oil Analysis: Low Expectations For Agreement At OPEC-Plus Virtual Gathering
WASHINGTON (MaceNews) – Members of the Organization for Oil Exporting Countries, along with Russia, Mexico and possibly Canada as well as Norway, are set to meet virtually Thursday to hash out an agreement to halt the months-long plunge in oil prices. However, expectations are low that a deal will be reached to ease a situation […]