Crude Oil Drops Below $66 – 24/7 Wall St.


New York Times
Crude Oil Drops Below $66
24/7 Wall St.
West Texas Intermediate (WTI) crude oil for January delivery tumbled below $66 a barrel on Friday and closed at $66.15, down 10.5%, the lowest settlement in five years. Brent crude slipped 3.4% in London to close at $70.15 after briefly falling below
The Upshot|Oil Prices Are Plunging. Here’s Who Wins and Who Loses.New York Times
A simple guide to the sudden collapse in oil pricesWashington Post (blog)
Saudi Oil Move Won’t Stop Texas Shale ProductionWOAI.com
Fort Worth Star Telegram –Businessweek –Wall Street Journal (blog)
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A Strong Dollar and A Weak Oil Price Could Trigger a Stock Market Melt-Up – Forbes


New York Times
A Strong Dollar and A Weak Oil Price Could Trigger a Stock Market Melt-Up
Forbes
U.S. equities could well outperform the rest of the world on the expectation that the U.S. is about to surpass Saudi Arabia as the globe’s largest oil producer. Miracle of miracles never to be dreamed of until today. And OPEC, which quadrupled oil
Free Fall in Oil Price Underscores Shift Away From OPECNew York Times
5-Year-Low Oil Price Plunge Adds Pressure on PutinThe Fiscal Times
Crude facts: why the plunging price of oil is not all good newsThe Guardian
Fox News –Reuters –Houston Chronicle
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Venezuela's Maduro Plans To Slash Spending as Oil Price Drops – Wall Street Journal


RT
Venezuela’s Maduro Plans To Slash Spending as Oil Price Drops
Wall Street Journal
CARACAS—Venezuelan President Nicolás Maduro announced plans on Friday to cut public spending, beginning with his own salary, as the price of oil continues its slump. The slide in crude prices of more than 30% since the summer has added a new layer …
Venezuela president orders budget cuts amid oilprice plungeFox News Latino
Venezuela’s Maduro plans gov’t pay cuts due to oil price slideReuters
Venezuelan president resolved to return oil to $100 a barrelRT
Press TV –The Hindu
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Parsley Energy's Sheffield flamed out as a trader, but Texas oil tycoon has … – Washington Post

Parsley Energy’s Sheffield flamed out as a trader, but Texas oil tycoon has
Washington Post
When he left Midland, Tex., in 1997, Bryan Sheffield didn’t plan on returning. His father and grandfather both had built their fortunes drilling wells in this flat, dusty landscape, living through oil industry booms and busts. Sheffield aimed for a

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The Upshot|Oil Prices Are Plunging. Here's Who Wins and Who Loses. – New York Times


New York Times
The Upshot|Oil Prices Are Plunging. Here’s Who Wins and Who Loses.
New York Times
Loser: Oil-producing state economies. As the American economy has struggled to recover in the last few years, the exceptions have been oil-rich states like Texas and North Dakota, which have enjoyed low unemployment and strong real estate markets.
A simple guide to the sudden collapse in oil pricesWashington Post (blog)
At OPEC Meeting, Saudi Arabia Stares Down Texas and North DakotaBusinessweek
OIL IS PLUNGINGBusiness Insider
Fort Worth Star Telegram –Breitbart News –USA TODAY
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Oil boom brings new focus to Univ. of Texas' land – San Angelo Standard Times


San Angelo Standard Times
Oil boom brings new focus to Univ. of Texas‘ land
San Angelo Standard Times
AUSTIN — The University of Texas System owns 2.1 million acres of land, most of it in oil-rich West Texas where royalty payments have soared past $1 billion each year. But a consulting group and environmental advocates say the UT System needs to do …
Texas Must Now Decide Where to Spend Oil Boom Money Dedicated to RoadworkNew York Times

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Dow ekes out record close; oil plummets 10% – USA TODAY


Bloomberg
Dow ekes out record close; oil plummets 10%
USA TODAY
A barrel of Texas Intermediate crude settled at $66.15 Friday — a whopping 10.2% drop. At the 1 p.m. close of the abbreviated, post-Thanksgiving session, the Dow Jones industrial average stood fractionally higher, settling at its new record of 17,828
Oil Tumbles Below $70 as Stocks Drop; Bonds, Dollar RallyBloomberg
… And these stocks are losing on lower oilCNBC
Oil price plummets 7.4%WTSP 10 News
The Journal News / Lohud.com –TheStreet.com
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Statoil Backed to Run Johan Sverdrup Field – Wall Street Journal


Wall Street Journal
Statoil Backed to Run Johan Sverdrup Field
Wall Street Journal
The field will be developed with four platforms, and more installations could be added in the next phases of development, Statoil said. The company’s goal is to recover at least 70% of the field’s oil resources. The production organization will be
Statoil Picked to Operate Johan Sverdrup FieldRigzone (registration)
Statoil recommended as Johan Sverdrup operatorYour Oil and Gas News (press release)

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Research and Markets: North America Oil Field Services Market Outlook – Market … – Business Wire (press release)

Research and Markets: North America Oil Field Services Market Outlook – Market
Business Wire (press release)
North America’s oil field services market is expected to grow rapidly in the coming decade as a result of increased exploration activity in Gulf of Mexico and shale boom across the region, which is presenting huge market opportunities for equipment …
Research and Markets: Global Oil Field Services Market Outlook 2014 – Market Yahoo Finance UK

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Free Fall in Oil Price Underscores Shift Away From OPEC – New York Times


New York Times
Free Fall in Oil Price Underscores Shift Away From OPEC
New York Times
On Friday, the benchmark American price for crude oil continued the free fall that began on Thursday, closing at $66.15, its lowest price in more than four years. The inability or unwillingness of OPEC to act showed that the cartel was no longer the
How low can it go? Oil, gas prices in freefall as OPEC reels from US frackingFox News
OPEC Leaves Production Target UnchangedWall Street Journal
Oil prices slump after Opec rules out production cutThe Week UK
Reuters –The Detroit News –Financial Times
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Russian economy stumbles under oil price pressure – euronews


Bloomberg
Russian economy stumbles under oil price pressure
euronews
Russia accounts for 11 percent of the world’s oil, but oil and gas combined make up a hefty 50 percent of Russia’s budget, so price fluctuations have a massive effect on economic planning. This year’s price drop has already cost Russia $100 billion in …
Russian economy minister says 2015 oil price forecast will be cutReuters
Russian Recession Risk at Record as Oil Price Saps EconomyBloomberg
Ruble Crashes Past Historic 50 to US Dollar as OPEC Lets Oil Price FallThe Moscow Times
Reuters UK –RadioFreeEurope/RadioLiberty
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Suspect ID'd in oilfield theft case – Marshall News Messenger


Marshall News Messenger
Suspect ID’d in oilfield theft case
Marshall News Messenger
The Harrison County Sheriff’s Office identified a suspect Wednesday in the attempted theft of oilfield equipment earlier in the day. Lt. Jay Webb said Randy Glezen, 48, is wanted after three people were spotted at a well site on FM 968 on the western
Search underway on FM 968 for alleged oil field thiefKETK

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Saudis block OPEC output cut, sending oil price plunging – Reuters


Reuters
Saudis block OPEC output cut, sending oil price plunging
Reuters
Brent oil fell more than $6 to $71.25 a barrel after OPEC ministers meeting in Vienna left the group’s output ceiling unchanged despite huge global oversupply, marking a major shift away from its long-standing policy of defending prices. This outcome
OPEC Leaves Production Target UnchangedWall Street Journal
Oil price plunges after Opec split keeps output steadyThe Guardian
Russian economy stumbles under oil price pressureeuronews
New York Times –The Week UK –ABC Online
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Oil price loss seen as gain for consumers: 'What is saved at the pumps will be … – Financial Post


Financial Post
Oil price loss seen as gain for consumers: ‘What is saved at the pumps will be
Financial Post
Matthew Sherwood for National Post“We’ve taken into account the bulk of the decline, which already occurred, and made the assumption, in fact, that the lower price would be sustained during the forecast period,” Finance Minister Joe Oliver told
Ottawa has already taken lower oil prices into account, Oliver saysThe Globe and Mail

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Oil price falls below $70 US as OPEC leaves output unchanged – CBC.ca


CBC.ca
Oil price falls below $70 US as OPEC leaves output unchanged
CBC.ca
There had been hopes that oil ministers with the Organization of the Petroleum Exporting Countries who met in Vienna would cut production in order to put a floor under prices that have fallen about 30 per cent since mid-summer, when prices were
Oil price plunge bruises Canadian dollar: What crude means to the economyThe Globe and Mail (subscription)
The petrodollar effect: Just how much is the loonie tied to oil prices?Financial Post
Is the loonie a petrodollar?Calgary Herald
Reuters –Globalnews.ca
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For Some Nations, Saudi Arabia's Oil Price War Is An Existential Threat – Business Insider


Business Insider
For Some Nations, Saudi Arabia’s Oil Price War Is An Existential Threat
Business Insider
Saudi Arabia is risking the economic health of weaker oil producing nations in its fight to see off the threat of the US shale boom. Oil prices have fallen by over 30% since June and appear to be continuing their decline. On Thursday Brent fell to a
The Commodity Investor: Target Low-Cost Oil Producers Like Continental Seeking Alpha

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