BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[What Happens to Oil Prices When 1.3 Billion Chinese Get Rid of Bicycles?]]>http://www.bloggingstocks.com/2010/06/11/chinese-oil-prices/http://www.bloggingstocks.com/2010/06/11/chinese-oil-prices/http://www.bloggingstocks.com/2010/06/11/chinese-oil-prices/#commentsFiled under:

As China's huge population graduates from bicycles, what is going to happen to oil prices? China -- still lacking in domestic oil infrastructure -- is going to compete against the United States to buy oil on the international market. The new destination of the oil tankers leaving the gulf could be China, not the U.S.

Americans usually move from a bicycle to a car around the age of 16 when they get a driver's license and money to buy their first car. And as China's middle class grows, so will the desire to move beyond bicycles. Whether it's a scooter, motorcycle or a car -- it is going to use gasoline.

Or will it?

Continue reading What Happens to Oil Prices When 1.3 Billion Chinese Get Rid of Bicycles?

What Happens to Oil Prices When 1.3 Billion Chinese Get Rid of Bicycles? originally appeared on BloggingStocks on Fri, 11 Jun 2010 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chinaclimate changeelectric bikeelectric carfeaturedglobal warminginthenewsoil demandoil pricesFri, 11 Jun 2010 10:00:00 EST<![CDATA[OPEC: The World Has 'No Room' for More Oil Supplies]]>http://www.bloggingstocks.com/2010/06/09/opec-forecast/http://www.bloggingstocks.com/2010/06/09/opec-forecast/http://www.bloggingstocks.com/2010/06/09/opec-forecast/#commentsFiled under: , , ,

OPEC logoOPEC's most recent report on global oil supplies said that the world has "no room" for more crude supplies.

OPEC lowered estimates for world demand and raised predictions for non-OPEC production. Here are the numbers:

  • While world demand is forecast to rise by 940,000 barrels per day (bpd) in 2010, this is 10,000 bpd lower than previously estimated.
  • Non-OPEC production is set to rise by 640,000 bpd, up from 530,000.

Continue reading OPEC: The World Has 'No Room' for More Oil Supplies

OPEC: The World Has 'No Room' for More Oil Supplies originally appeared on BloggingStocks on Wed, 09 Jun 2010 12:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>deflationinthenewsoil demandoil productionoil suppliesOPECWed, 09 Jun 2010 12:00:00 EST<![CDATA[Oil Prices Drop on Economic Concerns and Lowered Price Forecast]]>http://www.bloggingstocks.com/2010/05/25/oil-prices-drop-on-economic-concerns-and-lowered-price-forecast/http://www.bloggingstocks.com/2010/05/25/oil-prices-drop-on-economic-concerns-and-lowered-price-forecast/http://www.bloggingstocks.com/2010/05/25/oil-prices-drop-on-economic-concerns-and-lowered-price-forecast/#commentsFiled under: , , , , , , ,

oil trades lowerOil prices continue their recent slide today, with investors spooked by the global economy and a lower price forecast by Bank of America Merrill Lynch.

Concerns over the economic situation in Europe continue to weigh on investor's minds, and the major indexes were down over 2% at one point today before rebounding in late day trading.

Continue reading Oil Prices Drop on Economic Concerns and Lowered Price Forecast

Oil Prices Drop on Economic Concerns and Lowered Price Forecast originally appeared on BloggingStocks on Tue, 25 May 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>70 oildollareuropefeaturedglobal economyinthenewsoiloil demandoil inventoriesoil pricesopecTue, 25 May 2010 18:00:00 EST<![CDATA[Chevron Downgraded by Bank of America]]>http://www.bloggingstocks.com/2010/03/10/chevron-downgraded-by-bank-of-america/http://www.bloggingstocks.com/2010/03/10/chevron-downgraded-by-bank-of-america/http://www.bloggingstocks.com/2010/03/10/chevron-downgraded-by-bank-of-america/#commentsFiled under: , ,

Bank of America downgraded oil firm Chevron (CVX) Wednesday to neutral from buy, setting a target price of $90 per share for the stock. This downgrade comes a day after the company announced plans to "improve returns" and streamline the company's organization and portfolio.

Among the actions in this undertaking is staff reductions that will take place through 2011, with 2,000 positions on the chopping block for this year. The downgrade comes after Tuesday's meetings, which prompted Bank of America to say that CVX "had little new to influence an investment case that has been reassuringly consistent in recent years." The brokerage recommended Exxon Mobil (XOM) as a "better value" over the near term.

Continue reading Chevron Downgraded by Bank of America

Chevron Downgraded by Bank of America originally appeared on BloggingStocks on Wed, 10 Mar 2010 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>cvxfeaturedinthenewsoiloil demandtechnical analysisxomWed, 10 Mar 2010 09:30:00 EST<![CDATA[OPEC Is in the Catbird Seat]]>http://www.bloggingstocks.com/2009/12/20/opec-is-in-the-catbird-seat/http://www.bloggingstocks.com/2009/12/20/opec-is-in-the-catbird-seat/http://www.bloggingstocks.com/2009/12/20/opec-is-in-the-catbird-seat/#commentsFiled under: , ,

Let's just say OPEC is in an enviable position.

Come to think of it -- when hasn't OPEC been in an enviable position? OPEC heads into its December meeting next week "in the catbird seat," to cite an old phrase popularized by the late, great Red Barber. OPEC does not have to cut production to keep prices high -- they're already high: oil closed Friday up 40 cents to $73.05 per barrel. The roughly doubling of oil's price in 2009 is the main reason the average U.S. gasoline price for unleaded regular has risen about $1 to $2.60 per gallon this year.

Continue reading OPEC Is in the Catbird Seat

OPEC Is in the Catbird Seat originally appeared on BloggingStocks on Sun, 20 Dec 2009 11:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Congresseconomic recoveryfuel pricesgasoline pricesoil demandoil pricesOPECrecessionSun, 20 Dec 2009 11:10:00 EST<![CDATA[Oil prices move higher following bullish inventory report, Iranian missile test]]>http://www.bloggingstocks.com/2009/12/16/oil-prices-move-higher-following-bullish-inventory-report-irani/http://www.bloggingstocks.com/2009/12/16/oil-prices-move-higher-following-bullish-inventory-report-irani/http://www.bloggingstocks.com/2009/12/16/oil-prices-move-higher-following-bullish-inventory-report-irani/#commentsFiled under: , , , ,

oil inventory reportOil prices have been on the rise today, following a government report that showed inventories fell more than expected last week.

Going into today's inventory report, analysts had been expecting to hear that oil inventories shrank by around 2 million barrels last week, but according the the Department of Energy the actual draw was much steeper at 3.7 million barrels.

Continue reading Oil prices move higher following bullish inventory report, Iranian missile test

Oil prices move higher following bullish inventory report, Iranian missile test originally appeared on BloggingStocks on Wed, 16 Dec 2009 16:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bulgariaenergyheatinginventoriesiranmissile testmissilesMissileTestnuclearoiloil demandoil pricesOilDemandOilPricesromaniawinterWed, 16 Dec 2009 16:45:00 EST<![CDATA[IEA: Global energy use to resume an upward trend]]>http://www.bloggingstocks.com/2009/11/10/iea-global-energy-use-to-resume-an-upward-trend/http://www.bloggingstocks.com/2009/11/10/iea-global-energy-use-to-resume-an-upward-trend/http://www.bloggingstocks.com/2009/11/10/iea-global-energy-use-to-resume-an-upward-trend/#commentsFiled under: , , , ,

According to the International Energy Agency (IEA), global energy use is going to fall this year. That said, the group also believes that energy use will resume its upward trend, should government policies remain the same.

Looking far ahead, the IEA believes that the world's demand is projected to rise by 40% between now and 2030, when demand is estimated to hit 16.8 billion tons of oil equivalent.

Continue reading IEA: Global energy use to resume an upward trend

IEA: Global energy use to resume an upward trend originally appeared on BloggingStocks on Tue, 10 Nov 2009 15:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>fuel usegasolineIEAInternational Energy Agencyinthenewsoiloil demandTue, 10 Nov 2009 15:00:00 EST<![CDATA[Oil hits 6 week high]]>http://www.bloggingstocks.com/2009/10/12/oil-hits-6-week-high/http://www.bloggingstocks.com/2009/10/12/oil-hits-6-week-high/http://www.bloggingstocks.com/2009/10/12/oil-hits-6-week-high/#commentsFiled under: , , , , , ,

oil pricesOil prices hit a 6 week high today, as cold weather gripped most of the country.

Over the weekend the nation was hit with a cold front that reminded oil traders that the high demand winter season is on its way, and could help reduce a lot of the oversupply that the market is currently looking at.

Continue reading Oil hits 6 week high

Oil hits 6 week high originally appeared on BloggingStocks on Mon, 12 Oct 2009 15:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsfeaturedforecastsheating oilHeatingOilhillary clintonHillaryClintonIEAnorth koreaNorthKoreaoiloil demandoil pricesOilDemandOilPricesrecessionweatherMon, 12 Oct 2009 15:50:00 EST<![CDATA[Oil prices boost oil stocks at support (PTR, XOM, CVX)]]>http://www.bloggingstocks.com/2009/08/21/oil-prices-boost-oil-stocks-at-support-ptr-xom-cvx/http://www.bloggingstocks.com/2009/08/21/oil-prices-boost-oil-stocks-at-support-ptr-xom-cvx/http://www.bloggingstocks.com/2009/08/21/oil-prices-boost-oil-stocks-at-support-ptr-xom-cvx/#commentsFiled under: , ,

They say you should buy low and sell high, which is easy to say but hard to do. How low is low and how high is high?

Sometimes technical support and resistance levels can be helpful in finding those highs and lows. Right now oil stocks like Exxon Mobil Corp. (NYSE: XOM), PetroChina Company Ltd. (NYSE: PTR) and Chevron Corp. (NYSE: CVX) are just bouncing off support that may be the "low" many traders are looking for.

Continue reading Oil prices boost oil stocks at support (PTR, XOM, CVX)

Oil prices boost oil stocks at support (PTR, XOM, CVX) originally appeared on BloggingStocks on Fri, 21 Aug 2009 15:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Chevroncrude oil pricesCVXExxon Mobilinthenewsoil demandPetroChinaPTRXOMFri, 21 Aug 2009 15:15:00 EST<![CDATA[Oil drops below $67]]>http://www.bloggingstocks.com/2009/07/28/oil-drops-below-67/http://www.bloggingstocks.com/2009/07/28/oil-drops-below-67/http://www.bloggingstocks.com/2009/07/28/oil-drops-below-67/#commentsFiled under: , , , , , , , ,

Falling Oil PricesThe past two weeks we have seen oil prices steadily trade higher, but the sellers came out today in reaction to rising concern over consumer confidence and pushed prices lower.

Oil dropped under $67 a barrel today as Wall Street learned that consumer confidence had dropped for the second straight month in July. A major reason for low consumer confidence can be attributed to rapidly rising unemployment in the country.

Continue reading Oil drops below $67

Oil drops below $67 originally appeared on BloggingStocks on Tue, 28 Jul 2009 18:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>consumer confidenceConsumerConfidenceearningsearnings seasonEarningsSeasoneconomyGDPmarketwatchoiloil chartoil demandOilChartOilDemandrecessionunemploymentTue, 28 Jul 2009 18:30:00 EST<![CDATA[OPEC braces for sharp drop in oil prices]]>http://www.bloggingstocks.com/2009/07/25/opec-braces-for-sharp-drop-in-oil-prices/http://www.bloggingstocks.com/2009/07/25/opec-braces-for-sharp-drop-in-oil-prices/http://www.bloggingstocks.com/2009/07/25/opec-braces-for-sharp-drop-in-oil-prices/#commentsFiled under: , ,

Why is OPEC expecting a sharp drop in oil prices? First, much of the rise in oil prices has followed the rally on Wall Street. Investors reasoned that higher stock prices means that business is doing better and hence a need for more oil, and prices rise.

Not so fast. Business demand for oil is weak, and the consumer got clobbered by the recession and is holding back spending money. So the classic relationship between the stock market and oil that investors follow is not there this year.

Continue reading OPEC braces for sharp drop in oil prices

OPEC braces for sharp drop in oil prices originally appeared on BloggingStocks on Sat, 25 Jul 2009 14:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>contangooil demandoil glutoil pricesOPECSat, 25 Jul 2009 14:10:00 EST<![CDATA[OPEC says it will take five years for oil demand to recover to pre-recession levels.]]>http://www.bloggingstocks.com/2009/07/08/opec-says-it-will-take-five-years-for-oil-demand-to-recover-to-p/http://www.bloggingstocks.com/2009/07/08/opec-says-it-will-take-five-years-for-oil-demand-to-recover-to-p/http://www.bloggingstocks.com/2009/07/08/opec-says-it-will-take-five-years-for-oil-demand-to-recover-to-p/#commentsFiled under: , , , , ,

What is the current supply/demand for oil going forward? OPEC is saying that it will take five years to bring demand back to pre-recession levels.

In 2008 average consumption of OPEC oil reached 31 million barrels per day. We will not reach that mark until 2013. Demand for non OPEC oil is expected to remain flat at about 45 million barrels per day.

So now with less demand, there is less desire to invest in new capacity. OPEC had previously planned to spend $165 billion dollars in new capacity. Now they have scaled back these numbers to $110 to $120 billion into the year 2013.

In Rome last May, the International Energy Agency feared that lower investments in capacity would lead to severe future shortages.

Continue reading OPEC says it will take five years for oil demand to recover to pre-recession levels.

OPEC says it will take five years for oil demand to recover to pre-recession levels. originally appeared on BloggingStocks on Wed, 08 Jul 2009 15:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>inthenewsoil demandOilDemandopecWed, 08 Jul 2009 15:50:00 EST<![CDATA[Why did China raise fuel prices to record levels?]]>http://www.bloggingstocks.com/2009/07/01/why-did-china-raise-fuel-prices-to-record-levels/http://www.bloggingstocks.com/2009/07/01/why-did-china-raise-fuel-prices-to-record-levels/http://www.bloggingstocks.com/2009/07/01/why-did-china-raise-fuel-prices-to-record-levels/#commentsFiled under: , , ,

Why did China raise its gasoline and diesel prices? Beijing has a pricing policy that uses a 22-day moving average of crude oil. With the price of crude oil trading at around $71 per barrel, China felt it necessary to raise the price of gasoline and diesel fuel 9% and 10%, respectively. This will raise the price of a gallon of gasoline to $3.00 per gallon, compared with the U.S. price of $2.66 a week ago, according to Reuters news service.

With economies around the world gaining ground this quarter, it follows that demand for crude oil is also increasing. So far we've seen a doubling of oil prices since last February. The main concern is, given the pace of recovery, is there a point where demand for crude oil and gasoline will taper off. If so, we may be looking at an intermediate top in oil prices. However, if world economies continue to improve, crude oil could move to $75 to $80 per barrel.

Continue reading Why did China raise fuel prices to record levels?

Why did China raise fuel prices to record levels? originally appeared on BloggingStocks on Wed, 01 Jul 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Chinafuel pricesgasolineinthenewsoil demandoil pricesWed, 01 Jul 2009 09:00:00 EST<![CDATA[Oil prices fall on economic concerns]]>http://www.bloggingstocks.com/2009/06/22/oil-prices-fall-on-economic-concerns/http://www.bloggingstocks.com/2009/06/22/oil-prices-fall-on-economic-concerns/http://www.bloggingstocks.com/2009/06/22/oil-prices-fall-on-economic-concerns/#commentsFiled under: , , , , , ,

falling oil pricesOil moved up above $70 early in the session, but was unable to hold that momentum through the day. After its strong start to the day, prices dropped $2.19 to $67.83.

A major reason for the drop in prices can be attributed to the World Bank. The World Bank slashed its forecast for this year's global economic growth, and reported that the current recession is deepening.

Continue reading Oil prices fall on economic concerns

Oil prices fall on economic concerns originally appeared on BloggingStocks on Mon, 22 Jun 2009 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Iranoiloil demandoil pricesoil productionOilDemandOilPricesOilProductionOPECpoliticsrecessionWorld BankWorldBankMon, 22 Jun 2009 18:00:00 EST<![CDATA[Oil closes the week down after breaking through $70]]>http://www.bloggingstocks.com/2009/06/05/oil-closes-the-week-down-after-breaking-through-70/http://www.bloggingstocks.com/2009/06/05/oil-closes-the-week-down-after-breaking-through-70/http://www.bloggingstocks.com/2009/06/05/oil-closes-the-week-down-after-breaking-through-70/#commentsFiled under: , , , , , , ,

Earlier this week we were looking at oil prices, and wondering if we would see the precious crude break through the psychological $70 barrier, and that is exactly what we saw today.

For the first time since last November, oil prices were briefly above $70 today, moving up as high as $70.32 before profit taking pushed oil prices down on the day. We finished up the week at $68.44, down 37 cents.

Continue reading Oil closes the week down after breaking through $70

Oil closes the week down after breaking through $70 originally appeared on BloggingStocks on Fri, 05 Jun 2009 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>economygasgasolineGoldman Sachsinthenewsoiloil demandoil pricesrecessionslowdowntourismtravelunemploymentunemployment rateFri, 05 Jun 2009 17:30:00 EST<![CDATA[Oil inches closer to the $70 mark]]>http://www.bloggingstocks.com/2009/06/02/oil-inches-closer-to-the-70-mark/http://www.bloggingstocks.com/2009/06/02/oil-inches-closer-to-the-70-mark/http://www.bloggingstocks.com/2009/06/02/oil-inches-closer-to-the-70-mark/#commentsFiled under: , , , , , , , ,

A couple of months ago, I would have bet that oil would probably peak out this summer in the upper $60's, and possibly move back through the psychological $70 mark, but it is starting to look like I would have been wrong. We have yet to hit the heart of the high demand summer driving months, and oil is already poised to break through $70 a barrel.

When we looked at oil prices yesterday we mentioned that the first place you are going to feel the recent jump in price is going to be at the gas station. And today, you will be seeing another slight jump in price as the national average for a gallon of gasoline moved over a penny higher last night to a current national average of $2.525.

Continue reading Oil inches closer to the $70 mark

Oil inches closer to the $70 mark originally appeared on BloggingStocks on Tue, 02 Jun 2009 19:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ChinadollarenergyMiddle EastMiddleEastoiloil demandoil pricesOilDemandOilPricesrecessionTue, 02 Jun 2009 19:00:00 EST<![CDATA[Oil hits new 6 month high following inventory report]]>http://www.bloggingstocks.com/2009/05/20/oil-hits-new-6-month-high-following-inventory-report/http://www.bloggingstocks.com/2009/05/20/oil-hits-new-6-month-high-following-inventory-report/http://www.bloggingstocks.com/2009/05/20/oil-hits-new-6-month-high-following-inventory-report/#commentsFiled under: , , , , , , , , ,

Oil Prices hit 6 month highOil prices reached a new 6 month high today, following a weekly inventory report that lead investors to believe that demand is rising for the precious crude.

Going into today's report from the Department of Energy, analysts had been expecting to see a drop of around 1.5 million barrels, but the actual drop came in larger than expected, with a reported 2.1 million decline in inventories for the week ended May 15.

Continue reading Oil hits new 6 month high following inventory report

Oil hits new 6 month high following inventory report originally appeared on BloggingStocks on Wed, 20 May 2009 17:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>featuredgasolineoiloil demandoil pricesOilDemandOilPricestravelWed, 20 May 2009 17:40:00 EST<![CDATA[Oil prices dip on economic concerns]]>http://www.bloggingstocks.com/2009/05/15/oil-prices-dip-on-economic-concerns/http://www.bloggingstocks.com/2009/05/15/oil-prices-dip-on-economic-concerns/http://www.bloggingstocks.com/2009/05/15/oil-prices-dip-on-economic-concerns/#commentsFiled under: , , , , ,

When we took a look at oil prices last Friday oil was hitting a new 6 month high, and we noted that we could be seeing $60 oil by the end of this week. We did indeed see oil hitting $60 this week, but today prices took a hit, dropping back down under $57 a barrel.

The main reason prices retreated today was in reaction to disappointing news on retail sales, unemployment, and more bad news from the housing market. Oil has dropped $2.10 a barrel today to $56.52, and some analysts think that it still has a way to go before stabilizing.

Continue reading Oil prices dip on economic concerns

Oil prices dip on economic concerns originally appeared on BloggingStocks on Fri, 15 May 2009 19:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>60 oilgasgas pricesgasolinehedge fundsinflationinthenewsoiloil demandoil pricesOPECFri, 15 May 2009 19:00:00 EST<![CDATA[Oil jumps to six month high]]>http://www.bloggingstocks.com/2009/05/08/oil-jumps-to-six-month-high/http://www.bloggingstocks.com/2009/05/08/oil-jumps-to-six-month-high/http://www.bloggingstocks.com/2009/05/08/oil-jumps-to-six-month-high/#commentsFiled under: , , , , , ,

Record Oil PricesOil continued its charge today and traded up 3.4% to close the week out at $58.63 and creates a situation where we could very likely be looking at $60 oil again by the end of next week. The last time oil was trading this high was all the way back on November 11.

On Monday we looked at oil, and noted that a big reason for oil's recent jump is increasing optimism towards the overall economy, and that is still the case. The Labor Department reported a drop of 539,000 non-farm payrolls in April, lower than the anticipated loss of 610,000 jobs.

Continue reading Oil jumps to six month high

Oil jumps to six month high originally appeared on BloggingStocks on Fri, 08 May 2009 18:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>60 oildrivinginthenewsIranoiloil demandoil pricesOPECtourismFri, 08 May 2009 18:40:00 EST<![CDATA[Oil hits high for the year, as S&P goes positive]]>http://www.bloggingstocks.com/2009/05/04/oil-hits-high-for-the-year-as-sandp-goes-positive/http://www.bloggingstocks.com/2009/05/04/oil-hits-high-for-the-year-as-sandp-goes-positive/http://www.bloggingstocks.com/2009/05/04/oil-hits-high-for-the-year-as-sandp-goes-positive/#commentsFiled under: , , , , , , , , , ,

oil prices hit 2009 highOil prices have been steadily heading higher the past month, and today was no exception, as the precious crude managed to close today's trading at its highest value in 2009.

While we are still no where near the record high prices we were seeing last summer, oil has managed to slowly creep its way up to $54.58 a barrel. This was after a rise on the day of $1.73, and it is a clear sign that analysts believe that global demand is about to move in oil's favor.

Continue reading Oil hits high for the year, as S&P goes positive

Oil hits high for the year, as S&P goes positive originally appeared on BloggingStocks on Mon, 04 May 2009 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>autosconstructiongasolineoiloil demandoil pricesOilDemandOilPricesSPtravelMon, 04 May 2009 18:00:00 EST