Author Archive: Jordan Gleason

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Relief in Vienna as Nigeria takes a step back from the brink

OPEC has agreed to extend cuts in oil production by nine months to March 2018, following their meeting on Thursday in Vienna. Exempting Nigeria from the cuts may have avoided political meltdown in West Africa. Nigeria and Libya were once against exempt from making any such cuts, as they recover from militancy which has seen […]

Gov. John Bel Edwards vows to veto any budget looking like ‘non-starter’ House-backed plan

Gov. John Bel Edwards vows to veto any budget looking like ‘non-starter’ House-backed plan

Gov. John Bel Edwards is threatening to veto Louisiana’s state operating budget bill if it looks like the version crafted by House Republicans. The Democratic governor Thursday repeated his description of the House-backed spending plan as a “non-starter.” But he went further, saying he would reject the document entirely if it arrived in the form […]

OPEC Leaves Market Guessing on Exit Strategy After Historic Pact

OPEC may be celebrating an historic deal to extend supply cuts, but after the party, the organization will face a trio of questions it left unanswered. Will the lucrative yet delicate relationship between Saudi Arabia and Russia survive the life of the agreement? Will surging U.S. shale output prove too much temptation for OPEC countries […]

Wood Mac: Don’t expect an OPEC-fueled rally in crude oil prices

An extension of a managed production decline agreement led by OPEC won’t have much of a long-term impact on crude oil prices, Wood Mackenzie found. Parties to a measure coordinated by the Organization of Petroleum Exporting Countries are meeting in Vienna to review an agreement to sideline about 1.8 million barrels per day from the […]

Oil price falls further on OPEC production news

The price of oil is down further after OPEC and other nations said they had agreed to extend their production cuts for another nine months. The U.S. benchmark for crude was down $1.67 a barrel, or 3.3 percent, at $49.69 on Thursday. Some investors seem to have expected a longer extension. There is also some […]

OPEC Nations Won’t Slash Oil Production Any Further To Stave Off Glutted Market

OPEC extended Thursday dramatic cuts in crude production over the next nine months to prevent further hemorrhaging of the world’s oil prices. The Organization of the Petroleum Exporting Countries (OPEC)’s decision to extend the cuts from January comes as the world market saw oil increase to $50 a barrel in 2017, which gave fossil fuel producers a reprieve […]

OPEC’s Supply Cut Extension Could Impact Natural Gas Prices

Currently, the natural gas rig count is 88.8% below its record level of 1,606 in 2008. From August 2008 to date, although the natural gas rig count is lower, natural gas production rose during the same period. Oil rigs are the key to rising natural gas production. In the past ten years, natural gas production […]

Recent Fall in the US Dollar: Crucial for Natural Gas?

In the trailing week, the correlation between natural gas and the US dollar was -78.5%. They moved in opposite directions in three out of five trading sessions. A fall in the US dollar reduces the cost of a commodity for an importing country. In the past, natural gas exports were limited outside of North America. […]

High drama marks session’s last stretch

High drama marks session’s last stretch

Frayed nerves, negotiating tactics, policy threats and political gamesmanship have all collided for the final two weeks of the regular session. Lawmakers have until June 8 to address a growing list of problems and each passing day shaves off a sliver of possibility that all will end well. In just the past 24 hours the […]

The Rundown: A look at biggest stories in Louisiana politics heading into Memorial Day weekend

Today in The Rundown: Leaders are already calling another special legislative session “inevitable;” the House GOP strikes back at Democrats’ attempted power move; Senate Finance continues budget hearings; and everything else you need to know about Louisiana Politics today. Countdown… Days until the regular session ends: 13 The News Legislature: It’s all but inevitable that the legislature […]