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Tag Archives: global oversupply

Russia to see bigger slump as global outlook worsens: Reuters poll

MOSCOW – Russia’s economy is heading for a bigger contraction this year than previously expected as a lower oil price and weaker global economy weigh, a Reuters poll of analysts predicted on Monday. Economists are revising down their forecasts after a renewed slide in the international oil price, exacerbated by global concerns focused on China’s weakening economy. The poll of ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of August 22nd through the 28th. Enjoy! 5. Ex-well operator in North Dakota indicted in dumping case The former operator of a saltwater well in southwest North Dakota linked to an illegal wastewater dumping case pleaded not guilty to multiple felony charges Monday in federal court in Bismarck. A ...

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Russian oil firms raise profits and output, spurred by rouble weakness

MOSCOW – Russian oil firms are increasing their rouble profits and raising production as a weak currency protects their business, which has turned into one of the world’s most profitable. Russia has kept its production, which includes gas condensate, near post-Soviet highs as its producers benefit from getting the bulk of their export revenues in dollars while most of their ...

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Oil markets catch breath after biggest gains in six years

SEOUL – Crude oil futures were largely steady on Friday after posting their biggest one-day rally in over six years the day before led by recovering equity markets and news of diminished crude supplies. Stock markets around the world rallied on Thursday, shaking off a slump related to China growth fears, as strong U.S. economic data boosted investor sentiment, and ...

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