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MercoPress, en Español

Montevideo, October 8th 2026 - 16:53 UTC

Tag: oil price

  • Saturday, June 6th 2015 - 08:11 UTC

    OPEC holds production at 30 million bpd; markets react with volatility

    West Texas Intermediate, or light sweet crude, was similarly indecisive, falling before recovering to about $58.9 a barrel, up 1.4%. Oil prices had fallen 5% over the previous two sessions. Investors

    Crude oil prices were volatile after ministers from the Opec cartel decided to hold production levels at 30 million barrels per day. Brent crude traded in a narrow range around $62 a barrel, before ending the day up 1.8% at $63.15.

  • Thursday, March 5th 2015 - 13:05 UTC

    Here's what will send oil prices back up again

    Advances in wind and solar power have been significant, but according to EIA, renewables currently account for 11% of the world's energy consumption.

    Oil's rapid decline since August of last year has been dramatic. To listen to some commentators you would also think it is unprecedented and irreversible. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oil prices will recover, but when they will.

  • Thursday, February 26th 2015 - 17:30 UTC

    Is oil returning to 100 dollars or dropping to 10?

    Put simply, supply has increased faster than demand, so a rapid return to oil over $100/Barrel looks extremely unlikely

    If you have been following the price of oil over the last few months, the chances are you're a little confused. On the one hand you have the likes of A. Gary Shilling who, in this Bloomberg article, loudly trumpets the prospect of oil at $10/Barrel, and on the other there is T. Boone Pickens, who, at the end of last year was predicting a return to $100 within 12-18 months.

  • Thursday, February 19th 2015 - 06:02 UTC

    GeoPark scales down operations in Magallanes because of falling oil prices

    The company in a release said it was forced to adapt its structure to address the world oil crisis with the abrupt collapse in prices.

    Oil company GeoPark which operates in Magallanes, extreme south of Chile, reiterated its commitment and long term investment in the region but also announced the redundancy of 30 staff, first time in twelve years, because of a restructuring of the company to the new global oil industry scenario.

  • Tuesday, January 27th 2015 - 06:50 UTC

    Oil Prices Changing The Face Of Global Geopolitics

    Venezuela is even more dependent than Russia on the price of oil

    In a documentary that aired recently on the Canadian Broadcasting Corporation's popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would often corner rats.

  • Thursday, January 22nd 2015 - 11:36 UTC

    Oil price collapse hurting some more than others

    With weak demand, drillers can negotiate down rig prices. This leads to lower costs, helping drillers stay in the game.

    U.S. oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending.

  • Wednesday, January 14th 2015 - 07:47 UTC

    OPEC member stands by group's decision not to cut output to tackle glut

    United Arab Emirates' oil minister, Suhail bin Mohammed al-Mazroui, said that OPEC's November decision not to cut output had been the right one.

    Brent and US WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.

  • Tuesday, January 13th 2015 - 08:56 UTC

    The real cause of low oil prices: Interview with Arthur Berman

    Oil prices need to be around $90 to attract investment capital. So, are companies OK at current oil prices? Hell no! They are dying at these prices

    With all the conspiracy theories surrounding OPEC's November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. When discussing harsh truths in energy, no sector is in greater need of a reality check than renewable energy.

  • Tuesday, January 13th 2015 - 07:39 UTC

    Goldman Sachs forecasts oil price close to 40 dollars for most of fist half of 2015

    The oil price has now fallen by more than half since June, when the price stood at 110 per barrel.

    The price of a barrel of the North Sea benchmark dropped on Monday by 5.5% to 47.36 dollars, its lowest level since early 2009. US crude oil was also at its lowest level since that time, down by 5% to 45.90 a barrel.

  • Thursday, January 8th 2015 - 06:36 UTC

    Top five factors affecting oil prices in 2015

    China is the second largest consumer of oil in the world and surpassed the United States as the largest importer of liquid fuels in late 2013

    As we ring in the New Year, let's take stock of where we are at with the oil markets. 2014 proved to be a momentous one for the oil markets, having seen prices cut in half in just six months.