OPEC, for some quiet moments..

[admin]

It’s time for oil investors to start taking electric cars seriously. In the next two years, Tesla and Chevy plan to start selling electric cars with a range of more than 200 miles priced in the $30,000 range. Ford is investing billions, Volkswagen is investing billions, and Nissan and BMW are investing billions. Nearly every major carmaker—as well as Apple and Google—is working on the next generation of plug-in cars. This is a problem for oil markets. OPEC still contends that electric vehicles will make up just 1 percent of global car sales in 2040. Exxon's forecast is similarly dismissive.

Another Oil Crash Is Coming, and There May Be No Recovery - Bloomberg Business

Private equity (PE) firms are readying to deploy capital into the global oil and gas sector with 25% planning acquisitions before the end of the year and 43% by the first half of 2017, according an EY global survey of 100 PE firms active in the sector. With $971.4 billion of PE dry powder from June 2016 still to be deployed, EY's survey, Capitalizing on opportunities: Private equity investment in oil and gas, reveals that PE firms are now preparing to increase investment into the sector.

Private equity set to unleash trillion dollar warchest, EY survey finds

Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Co. Iran exports about 2 MMbbl of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. The country has regained about 80% of the market share it held before the U.S. and European Union tightened sanctions on its oil industry in 2012, he said. Sanctions were eased in January, and Iran plans to double crude exports.

Oil price seen stable even as Iran plans to boost crude exports

Oil dropped to a two-month low after U.S. producers deployed the most rigs since April, signaling that output losses that trimmed a global glut may slow. Futures fell as much as 1.9% in New York to the lowest level since May 11. Rigs targeting oil in the U.S. rose by 10 to 351 last week, the highest since April 15, Baker Hughes Inc. said on its website. Money managers cut net long wagers on West Texas Intermediate to the lowest since March in the week ended July 5, Commodity Futures Trading Commission data show.

Oil falls to two-month low as U.S. drillers boost operations