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Impatient Banks: A Real Red Flag For The Oil Patch
Impatient Banks: A Real Red Flag For The Oil Patch Lenders to the oil and gas industry have been extraordinarily lenient amid the worst downturn in decades, allowing indebted companies to survive a little while longer in hopes of a rebound in oil prices. But the screws are set to tighten just a bit more […]
Record Loss For Petrobras As Political And Economic Crisis Worsen
Record Loss For Petrobras As Political And Economic Crisis Worsen Petrobras reported a record loss for the fourth quarter, a horrendous performance that raises questions about the company’s ability to handle its mountain of debt. The state-owned Brazilian oil company announced that it lost more than 36 billion reais in the fourth quarter, or more than USD$10 […]
Supply Outages in OPEC Countries Push Up Oil Prices
Supply Outages in OPEC Countries Push Up Oil Prices Much of the current oil price rally – up about 50 percent in less than two months – is due to the growing optimism in the markets. That is, the price surge is driven by speculative movements, bets that oil prices will rise. However, the speculators […]
Canadian Oil Slammed By Low Prices, Pipeline Woes
Canadian Oil Slammed By Low Prices, Pipeline Woes Canada has been particularly hit hard during the downturn in oil prices. A major oil-producing country, Canada rode the commodity wave upwards over the past decade, but has suffered from the downturn. The economy briefly dipped into a recession in 2015. Even after growth resumed, Canada’s GDP slowed the […]
UK Oil Industry At The “Edge Of A Chasm”
UK Oil Industry At The “Edge Of A Chasm” Oil production from the North Sea could plummet over the next decade, an outcome that will largely result from the inability of oil companies to invest in upstream exploration today. Oil & Gas UK, an industry trade group, said in a new report that the North Sea is […]
The Danger Of Low Oil Prices For The Global Economy
The Danger Of Low Oil Prices For The Global Economy Oilprice.com wanted to check in with Dr. John C. Edmunds, a Professor of Finance at Babson College, to get his thoughts on the OPEC deal, oil markets, and some developments in Latin America. He is an expert in international finance, capital markets, foreign exchange risk, and […]
Widespread Credit Downgrades Likely For Oil Producing Countries
Widespread Credit Downgrades Likely For Oil Producing Countries Plenty of oil commodity producers are in trouble, and that includes more than a handful of countries whose economies are heavily dependent on oil, gas, and other natural resource exports. In the 1980s, a wave of defaults swept emerging markets, with a large portion of the blame […]
Oil Glut Compounded By Cracks In Global Economy
Oil Glut Compounded By Cracks In Global Economy Will oil go below $20? Jeffrey Currie, the head of commodities research at Goldman Sachs, said on Bloomberg TV on Tuesday that he wouldn’t be surprised if oil dipped “into the teens.” That would upend the financial prospects for a lot of oil and gas companies. In January, Moody’s […]
Despite Huge Losses Oil Companies Reluctant To Shut In Production
Despite Huge Losses Oil Companies Reluctant To Shut In Production As energy investors look for reasons to be optimistic, many are keeping close tabs on supply figures. There are some signs that supply is taking a hit from disparate parts of the globe. According to Bloomberg, China might see its output dip by 3 to […]
Only Recession Can Prevent An Oil Price Spike
Only Recession Can Prevent An Oil Price Spike The biggest result from the collapse in oil prices could be a future price spike. Oil prices at $30 per barrel have put most producers under water. That has led to austere budgets and severe cuts to spending. Wood Mackenzie recently estimated that $380 billion in major […]
OPEC, except for Iran, Has Peaked
OPEC, except for Iran, Has Peaked The OPEC Monthly Oil Market Report is out. OPEC took a hit in December, down 205,000 barrels per day. After examining the past and present production numbers, I believe that OPEC, except Iran, has peaked. That is, the combined production from all the other OPEC nations, has peaked. And any additional production […]
Petro Currencies Under Fire As Oil Keeps Sliding
Petro Currencies Under Fire As Oil Keeps Sliding Low oil prices put pressure on the budgets of major oil producing countries in 2015, but the next domino to fall could be their currencies. Petro-economies with flexible exchange rates have already seen double-digit declines in the value of their currencies over the past year, in percentage […]
America’s Top Shale Gas Basin in Decline
America’s Top Shale Gas Basin in Decline The natural gas drilling frenzy is grinding to a halt, as the industry struggles with excess supply. Natural gas prices have plunged to their lowest levels in more than a decade this month, dipping below $1.80 per million Btu (MMBtu). The shale gas revolution is an old story […]
Other Energy Companies Accused Of Downplaying Climate Change
Other Energy Companies Accused Of Downplaying Climate Change A growing number of energy companies could come under increased scrutiny over their involvement in funding science and public relations campaigns denying the risks of climate change. The New York attorney general made news a few weeks ago when he announced an investigation into oil major ExxonMobil […]
Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry
Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads […]
