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2014–2016 World Oil Market Chronology
2014 On January 2, benchmark crude fell by the most in one day since November 2012 to close at $95.44. Brent crude was $107.78. Gas was $3.33. With the Iran agreement and increased production from Libya and the North Sea, Benchmark oil was around $92 on January 13 and Brent crude was $105.98. After good economic news from Japan, Benchmark crude fell slightly from its highest close of 2014, $98.23 on January 30. Brent crude fell to $107.25. The difference between the two fell below $10 for the first time since November, partly due to cold weather in the United States which resulted in high heating oil demand. Early in February gas was $3.27. Cold weather led to the price of oil staying above $100 for most of February, but lower prices were expected. With United States fourth quarter economic growth expected to be lower than an early estimate, Benchmark crude fell slightly on February 27 to $102.40, with Brent crude reaching $108.61. On March 24, due to the dispute over Crimea, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benchmark (crude Oil)
A benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West Texas Intermediate (WTI), Brent Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Bonny Light used in Nigeria, Urals oil used in Russia and Mexico's Isthmus. Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 edition. Benchmarks are used because there are many different varieties and grades of crude oil. Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price. West Texas Intermediate (WTI) West Te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Baltimore Sun
''The Baltimore Sun'' is the largest general-circulation daily newspaper based in the U.S. state of Maryland and provides coverage of local and regional news, events, issues, people, and industries. Founded in 1837, it is currently owned by Tribune Publishing. The ''Baltimore Sun's'' parent company, '' Tribune Publishing'', was acquired by Alden Global Capital, which operates its media properties through Digital First Media, in May 2021. History ''The Sun'' was founded on May 17, 1837, by printer/editor/publisher/owner Arunah Shepherdson Abell (often listed as "A. S. Abell") and two associates, William Moseley Swain, and Azariah H. Simmons, recently from Philadelphia, where they had started and published the '' Public Ledger'' the year before. Abell was born in Rhode Island, became a journalist with the ''Providence Patriot'' and later worked with newspapers in New York City and Boston.Van Doren, Charles and Robert McKendry, ed., ''Webster's American Biographies''. (Springfiel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Automobile Association
American Automobile Association (AAA – commonly pronounced as "Triple A") is a federation of motor clubs throughout North America. AAA is a privately held not-for-profit national member association and service organization with over 60 million members in the United States and Canada. AAA provides services to its members, including roadside assistance and others. Its national headquarters are in Heathrow, Florida. History The American Automobile Association (the "AAA" or "Triple-A") was founded on March 4, 1902, in Chicago, Illinois, in response to a lack of roads and highways suitable for automobiles.Automobile Men Organize . ''Minneapolis Daily Times''. March 5, 1902. p. 6. At that time, nine motor clubs with a total of 1,500 members banded together to form the AAA. Those individual motor clubs included the Chicago ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MSNBC
MSNBC (originally the Microsoft National Broadcasting Company) is an American news-based pay television cable channel. It is owned by NBCUniversala subsidiary of Comcast. Headquartered in New York City, it provides news coverage and political commentary. As of September 2018, approximately 87 million households in the United States (90.7 percent of pay television subscribers) were receiving MSNBC. In 2019, MSNBC ranked second among basic cable networks averaging 1.8 million viewers, behind rival Fox News, averaging 2.5 million viewers. MSNBC and its website were founded in 1996 under a partnership between Microsoft and General Electric's NBC unit, hence the network's naming. Microsoft divested itself of its stakes in the MSNBC channel in 2005 and its stakes in msnbc.com in July 2012. The general news site was rebranded as NBCNews.com, and a new msnbc.com was created as the online home of the cable channel. In the late summer of 2015, MSNBC revamped its programming by entering ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk shows, investigative reports, documentaries, infomercials, reality shows, and other programs at all other times. Along with Fox Business and Bloomberg Television, it is one of the three major business news channels. It also operates a website and mobile apps, whereby users can watch the channel via streaming media, and which provide some content that is only accessible to paid subscribers. CNBC content is available on demand on smart speakers including Amazon Echo devices with Amazon Alexa, Google Home and app devices with Google Assistant, and on Apple Siri voice interfaces including iPhones. Many CNBC TV shows are available as podcasts for on-demand listening. Graphics are designed by Sweden-based Magoo 3D studios. CNBC is a divisi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ali Al-Naimi
Ali bin Ibrahim Al-Naimi ( ar, علي بن إبراهيم النعيمي) (born 2 August 1935) is a Saudi Arabian politician who was the Saudi Arabian Minister of Petroleum and Mineral Resources from 1995 to 2016. Early life and education Naimi was born in Ar-Rakah in the Eastern Province. Born to Ibrahim, a pearl diver of the Al-Naimi tribe, and Fatima, a Bedouin of the Ajman, his parents became divorced during the pregnancy. As a consequence, Naimi was born into and lived the first eight years of his nomadic life with his mother's and stepfather's tribe. From the age of four, he tended the family's flock of lambs. His mother divorced his stepfather when Al-Naimi was eight, and Al-Naimi left the Ajmani tribe to live with his father in Al-Hasa. Ali Al-Naimi's older brother Abdullah was hired by Aramco in 1944, and attended the Jebel School run by the company. Abdullah took Ali along to the school, where they learned English, Arabic and basic arithmetic in the mornings, then worke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saudi Arabia
Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Arab world, and the largest in Western Asia and the Middle East. It is bordered by the Red Sea to the west; Jordan, Iraq, and Kuwait to the north; the Persian Gulf, Qatar and the United Arab Emirates to the east; Oman to the southeast; and Yemen to the south. Bahrain is an island country off the east coast. The Gulf of Aqaba in the northwest separates Saudi Arabia from Egypt. Saudi Arabia is the only country with a coastline along both the Red Sea and the Persian Gulf, and most of its terrain consists of arid desert, lowland, steppe, and mountains. Its capital and largest city is Riyadh. The country is home to Mecca and Medina, the two holiest cities in Islam. Pre-Islamic Arabia, the territory that constitutes modern-day Saudi Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson sold the publication to Nikkei for £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. The newspaper has a prominent focus on financial journalism and economic analysis over generalist reporting, drawing both criticism and acclaim. The daily sponsors an annual book award and publishes a " Person of the Year" feature. The paper was founded in January 1888 as the ''London Financial Guide'' before rebranding a month later as the ''Financial Times''. It was first circulated around metropolitan London by James Sherid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg Businessweek
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City in September 1929. Bloomberg Businessweek business magazines are located in the Bloomberg Tower, 731 Lexington Avenue, Manhattan in New York City and market magazines are located in the Citigroup Center, 153 East 53rd Street between Lexington and Third Avenue, Manhattan in New York City. History ''Businessweek'' was first published based in New York City in September 1929, weeks before the stock market crash of 1929. The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which made ''Businessweek'' one of the first publications to cover national political issues that directly impacted the b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tight Oil
Tight oil (also known as shale oil, shale-hosted oil or light tight oil, abbreviated LTO) is light crude oil contained in unconventional petroleum-bearing formations of low permeability, often shale or tight sandstone. Economic production from tight oil formations requires the same hydraulic fracturing and often uses the same horizontal well technology used in the production of shale gas. While sometimes called "shale oil", tight oil should not be confused with oil shale (shale rich in kerogen) or shale oil (oil produced from oil shales). Therefore, the International Energy Agency recommends using the term "light tight oil" for oil produced from shales or other very low permeability formations, while the World Energy Resources 2013 report by the World Energy Council uses the terms "tight oil" and "shale-hosted oil". In May 2013 the International Energy Agency in its ''Medium-Term Oil Market Report'' (MTOMR) said that the North American oil production surge led by unconventio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
USA Today
''USA Today'' (stylized in all uppercase) is an American daily middle-market newspaper and news broadcasting company. Founded by Al Neuharth on September 15, 1982, the newspaper operates from Gannett's corporate headquarters in Tysons, Virginia. Its newspaper is printed at 37 sites across the United States and at five additional sites internationally. The paper's dynamic design influenced the style of local, regional, and national newspapers worldwide through its use of concise reports, colorized images, Infographic, informational graphics, and inclusion of popular culture stories, among other distinct features. With an average print circulation of 159,233 as of 2022, a digital-only subscriber base of 504,000 as of 2019, and an approximate daily readership of 2.6 million, ''USA Today'' is ranked as the first by circulation on the list of newspapers in the United States. It has been shown to maintain a generally center-left audience, in regards to political persuasion. ''US ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with ''USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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