Forex Books Talking

He argued that rapidly growing production outside OPEC made the existing status quo unviable, and that lower prices in the short term would increase prices in the longer term through reduced investment and ultimately benefit all OPEC members.

Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump

The Saudis have kept their production levels high since last year in order to drive other players (especially U.S. shale drillers) out of business. Equally clear is the fact that this strategy of maintaining the glut and driving out rivals hasn't worked so far

MoneyMorning.com Dr. Kent Moors writes: The People’s Bank of China (PBOC) just decided to cut the value of the Chinese currency, the yuan, by 2%.

The announcement took analysts by surprise and signaled that Beijing has decided to shore up a weakness in exports. It will now almost certainly usher in similar moves by other Asian countries that are China’s exporting competitors.

Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the rebound in April and May to $60 per barrel from the mid-$40s suggested that the severe drop was merely temporary

But the collapse of prices in July – owing to the Iran nuclear deal, an ongoing production surplus, and economic and financial concerns in Greece and China – have darkened the mood. Now a prevailing sense that oil prices may stay lower for longer has hit the markets.

A flood of bearish news has pushed down oil prices to their lowest levels in months, with WTI nearing $45 per barrel and Brent flirting with sub-$50 territory.

With a bear market back, there is pessimism throughout the oil markets. Goldman Sachs is even predicting oil stays at $50 through 2020, a profoundly grim view of the state of oil supplies

Trading position (short-term; our opinion): Short positions with a stop-loss order at $65.23 are justified from the risk/reward perspective.On Tuesday, crude

On Tuesday, crude oil moved higher after the market's open supported by hopes for another decline in U.S. stockpiles. Thanks to these circumstances, light crude

circumstances, light crude bounced off the multi-month low and gained 1.48%. Did this increase change anything in the short-term picture of the commodity?

MoneyMorning.com Dr. Kent Moors writes: As I write, I am flying from Kansas to Baltimore. I’ll be visiting Money Map Press headquarters to discuss some exciting developments we’ll tell you about shortly.

Years ago, a legendary wildcatter told me you have to smell the crude and get it under your fingernails before anybody should call you a genuine oilman.

"Whoever would overthrow the liberty of a nation must begin by subduing the freeness of speech." ~ Benjamin Franklin, Silence Dogood, The Busy-Body, and Early Writings