Forex Books Talking

Continental Resources, for example, could see output fall by 10 percent. A range of other companies have made similar announcements in recent weeks. The energy world has been speculating about declines from U.S. shale, and the declines are finally starting to show up in the data.

Crude gained $2.58 last week to close at 38.50 - on the declining trendline and the 50% retracement of the October decline. My bandwidth indicator has turned down indicating that the rally is

turned down indicating that the rally is long-in-the-tooth. On Friday, crude tested 39.00 which makes the February rally equal to 150% of the January rally; a natural stopping point.

On Friday, crude oil gained 1.24% as rig count declined to the lowest level ever. Thanks to this news, light crude hit a fresh March high, but will we see further rally in the coming week?

Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate

the public from the whims of the market, protecting people from triple-digit crude prices. But with the crash in prices since mid-2014, the effect of the regulation has reversed: motorists are now effectively subsidizing the oil industry.

What if I told you that there was a period in history where oil demand declined by 5 million barrels per day and non-OPEC supply increased by 5 million barrels per day, yet oil price

by 5 million barrels per day, yet oil price rallied more than 50 percent? Would you believe me? If your answer is yes, then you guessed right. This was the period from 1979 to 1985;

right. This was the period from 1979 to 1985; it was a period during which global oil demand declined from over 61 million barrels to 56 million barrels and non-OPEC supply increased from 32

million barrels and non-OPEC supply increased from 32 million barrels to 37 million barrels. Yet prices rallied from $17 a barrel in 1979 to $26 a barrel in 1985, while reaching as high as $35 in 1981.

This is a financial cold war—nothing more, nothing less. While there are billions of reasons to cut output, and every major producing country is reeling from the loss of revenues, some are

country is reeling from the loss of revenues, some are weathering the current bust better than others, but the devil is in the details, and the details contain tons of variables.

Production cost and breakeven figures that analysts enjoy bandying can trap you in bubble of black-and-white mathematics that is a few brush-strokes shy of a full picture.

The crude oil price last close of $32 stands $6 higher than its recent multi-year bear market low of $26. Whilst little has changed fundamentally so far in terms of supply i.e. OPEC and others

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