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Tag Archives: oil production
The Oil Industry Needs Large New Discoveries, Very Soon
The Oil Industry Needs Large New Discoveries, Very Soon Market participants and analysts are all focused on the imminent oil supply gap that is opening with the U.S. sanctions on Iran just five weeks away. But beyond the shortest term, a larger and more alarming gap in global oil supply is looming—experts forecast that unless […]
How Much Spare Capacity Does Saudi Arabia Really Have?
How Much Spare Capacity Does Saudi Arabia Really Have? Saudi Arabia has pledged to cover any supply gap that may emerge as Iranian oil goes offline, but how much spare capacity does it really have? The massive reserve of spare capacity located in the Saudi desert is the stuff of legend, taken as gospel in […]
Is The Bakken Close To Breaking?
Is The Bakken Close To Breaking? While the Permian has experienced a drilling boom and has received tons of media attention, a lesser-known but still remarkable revival has been underway in the Bakken this year. At the same time, the increased rates of drilling in North Dakota are starting to reveal signs of strain on […]
What Will Trigger The Next Oil Price Crash?
What Will Trigger The Next Oil Price Crash? Are we nearing another financial crisis? The supply-side story for oil prices is heavily skewed to the upside, with production losses from Iran and Venezuela causing a rapid tightening of the market. But the demand side of the equation is much more complex and harder to pin […]
OPEC, Russia Defy Trump Demand To Boost Oil Production
OPEC, Russia Defy Trump Demand To Boost Oil Production Less than three months after Trump’s latest tweet slamming OPEC, in which he warned the petroleum cartel that it must “REDUCE PRICING NOW!”, Trump was at it again and on Thursday morning, with Brent hitting $80 per barrel and higher gasoline prices creating another headache for […]
Russian Oil Production Hits Post-Soviet Record
Russian Oil Production Hits Post-Soviet Record While there has been no love-loss between the U.S. and Russia in recent years, news coming out of Moscow yesterday was sure to cheer the most ardent Russian naysayers in both Washington and especially the U.S. energy patch. A Russian government official, according to a Bloomberg report, asking to […]
Iran Starts Air Force Drills Near The World’s Crucial Oil Chokepoint
Iran Starts Air Force Drills Near The World’s Crucial Oil Chokepoint Iran’s Air Force and the Islamic Revolution Guards Corps began on Friday fighter jet drills over the waters near the world’s most important oil chokepoint, the Strait of Hormuz, Iran’s IRNA news agency reported on Friday. Aircraft including nine F-4, six Sukhoi, and four […]
What happened to crude oil production after the first peak in 2005?
What happened to crude oil production after the first peak in 2005? The IEA (in Paris) proudly announced in its latest September 2018 Monthly Oil Market Report that global supplies (of liquids) have reached 100 mb/d in August, an impressive figure. What matters, however, is crude oil production, something the IEA does not show in […]
The U.S. Calls On Russia To Cap Soaring Oil Prices
The U.S. Calls On Russia To Cap Soaring Oil Prices As crucial mid-term congressional elections in November draw near, the Trump administration is feeling the heat over higher oil prices. London-traded global oil benchmark Brent breached the $80 per barrel price point on Wednesday, its highest level since May 2. NYMEX-traded U.S. oil benchmark West […]
The U.S. Is The World’s Top Oil Producer, But For How Long?
The U.S. Is The World’s Top Oil Producer, But For How Long? The U.S. Energy Information Administration (EIA) said on Tuesday that the U.S. likely surpassed Saudi Arabia and Russia earlier this year to become the world’s top crude oil producer. The EIA based its disclosure on preliminary estimates in its Short-Term Energy Outlook which […]
The Coming Collapse Of U.S. Shale Oil Production
The Coming Collapse Of U.S. Shale Oil Production The death of U.S. Energy Independence will occur when the collapse of shale oil production begins. And when U.S. shale oil production finally peaks and declines, it could fall much more rapidly than we realize. The rate at which U.S. shale oil production declines in the future […]
