{"id":12992,"date":"2016-03-14T18:53:22","date_gmt":"2016-03-14T22:53:22","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=12992"},"modified":"2016-03-14T18:53:22","modified_gmt":"2016-03-14T22:53:22","slug":"oil-lower-on-global-glut-iranian-output","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/03\/14\/oil-lower-on-global-glut-iranian-output\/","title":{"rendered":"Oil lower on global glut, Iranian output"},"content":{"rendered":"

\"\"<\/a><\/p>\n

From The Age:<\/p>\n

Stockpiles at the Cushing, Oklahoma grew almost 850,000 barrels to 69.6 million in the week to March 11, bringing storage at the delivery hub for US crude futures to near capacity, traders said, citing market intelligence firm Genscape.<\/p>\n

The Organisation of the Petroleum Exporting Countries, meanwhile, said global demand for crude from its members, including Saudi Arabia and Iran, will be less than previously thought in 2016 due to competing non-OPEC supply. OPEC supply will likely exceed demand by about 760,000 barrels per day, up from 720,000 bpd it implied earlier.<\/p><\/blockquote>\n

\"June<\/p>\n

* Target calculation: 32 – ( 42 – 32 ) = 22<\/p>\n

Respect of resistance at $42\/barrel (and the descending trendline) would warn of another decline. Breach of support at $32 would confirm a target of $22\/barrel*.<\/p>\n

Where oil goes, stocks will follow.<\/p>\n

Source: Oil lower on global glut, Iranian output<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

From The Age: Stockpiles at the Cushing, Oklahoma grew almost 850,000 barrels to 69.6 million in the week to March 11, bringing storage at the delivery hub for US crude futures to near capacity, traders said, citing market intelligence firm Genscape. The Organisation of the Petroleum Exporting Countries, meanwhile, said global demand for crude from … <\/p>\n

Continue reading “Oil lower on global glut, Iranian output”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44,57],"tags":[2006,2558,2571,3678],"class_list":["post-12992","post","type-post","status-publish","format-standard","hentry","category-crude-oil-natural-gas","category-stock-markets","tag-june-2016-light-crude","tag-oil-stockpiles","tag-opec","tag-where-oil-goes-stocks-will-follow"],"yoast_head":"\nOil lower on global glut, Iranian output - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil lower on global glut, Iranian output - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From The Age: Stockpiles at the Cushing, Oklahoma grew almost 850,000 barrels to 69.6 million in the week to March 11, bringing storage at the delivery hub for US crude futures to near capacity, traders said, citing market intelligence firm Genscape. 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Nymex Light Crude similarly broke support at $75 per barrel, closing at $72. In October, the White House released a fact sheet indicating they would buy to replenish the strategic petroleum reserve (SPR) when prices fell\u2026","rel":"","context":"In "Base Metals"","block_context":{"text":"Base Metals","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/base-metals\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-08-brent.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-08-brent.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-08-brent.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":14249,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/30\/opec-deal-a-fake\/","url_meta":{"origin":12992,"position":1},"title":"OPEC deal a fake","author":"ColinTwiggs","date":"September 30, 2016","format":false,"excerpt":"OPEC announced an agreement to cut production \u2014 to between 32.5 million and 33 million barrels per day from current levels of 33.2 million barrels \u2014 without agreement as to which members will bear the brunt of the production cuts. FGE Chairman Fereidun Fesharaki calls this \"a fake deal\" and\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58323,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/10\/14\/stabilizing-crude-oil-prices\/","url_meta":{"origin":12992,"position":2},"title":"Stabilizing crude oil prices","author":"Colin Twiggs","date":"October 14, 2024","format":false,"excerpt":"Volatile crude oil prices damage production capacity and economic growth and cause volatile consumer price inflation. At the height of the 2020 pandemic, Nymex WTI crude oil prices fell to an unprecedented low of -$13.10 per barrel as demand dried up and oil storage facilities reached capacity. Producers faced a\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"Nymex WTI Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-10-14-crude3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":15339,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/25\/opec-extends-output-cuts-but-caught-in-a-pincer\/","url_meta":{"origin":12992,"position":3},"title":"OPEC extends output cuts but “caught in a pincer”","author":"ColinTwiggs","date":"May 25, 2017","format":false,"excerpt":"From Stanley Reed at The Age: The Organisation of the Petroleum Exporting Countries extended oil production cuts through March 2018, Khalid A. al-Falih, the Saudi energy minister, said in Vienna overnight. The move follows a decision this month by Saudi Arabia and Russia to do so. The earlier announcement helped\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15476,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/22\/crude-headed-for-30-if-opec-fails-to-deepen-cuts\/","url_meta":{"origin":12992,"position":4},"title":"Crude headed for $30 if OPEC fails to deepen cuts","author":"ColinTwiggs","date":"June 22, 2017","format":false,"excerpt":"Crude could fall to $30\/barrel next year -- and stay there for two years -- according to Fereidun Fesharaki, chairman of consultants FGE. Oil at $30\/b oil next year if OPEC fails to deepen cuts, IAEE conference hears https:\/\/t.co\/wUuljZcdya pic.twitter.com\/RWTPCUkxBv\u2014 Oilpro (@Oilprocom) June 20, 2017 Nymex Light Crude breached support\u2026","rel":"","context":"In "Crude Oil & Natural Gas"","block_context":{"text":"Crude Oil & Natural Gas","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/crude-oil-natural-gas\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38012,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/10\/08\/energy-and-interest-rates\/","url_meta":{"origin":12992,"position":5},"title":"Energy and interest rates","author":"Colin Twiggs","date":"October 8, 2022","format":false,"excerpt":"\"...People can't be fed with printed dollars and\u00a0euros. You can\u2019t feed them with those pieces of\u00a0paper, and\u00a0the\u00a0virtual, inflated capitalization of\u00a0western social media companies can\u2019t heat their homes....you can\u2019t feed anyone with paper\u00a0\u2013 you need food; and\u00a0you can\u2019t heat anyone\u2019s home with these inflated capitalizations\u00a0\u2013 you need energy.\" ~ Vladimir Putin,\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Nord Stream Pipeline Rupture in the Baltic Sea","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-10-01-baltic.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-10-01-baltic.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-10-01-baltic.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/12992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=12992"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/12992\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=12992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=12992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=12992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}