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Tag Archives: oil supply
Is Oil Returning to $100 Or Dropping To $10?
Is Oil Returning to $100 Or Dropping To $10? If you have been following the price of oil over the last few months, the chances are you’re a little confused. On the one hand you have the likes of A. Gary Shilling who, in this Bloomberg article, loudly trumpets the prospect of oil at $10/Barrel, […]
If Oil Prices Are Surprising, Then That Can Only Mean Demand
If Oil Prices Are Surprising, Then That Can Only Mean Demand Crude oil futures have been quite volatile of late, particularly in the front months where even the slightest changes in expectations of whatever factor (rig counts, CEO comments, etc.) send WTI surging or tumbling by turn. Despite that, however, the outer years on the […]
Essential Oil Production Statistics – February 2015
Essential Oil Production Statistics – February 2015 This is the second in a monthly series of posts chronicling the action in the global oil market in 12 key charts. The January 2015 post is here. EIA oil price and Baker Hughes rig count charts are updated to end January 2015, the remaining oil production charts are updated to December 2014 […]
This Week In Energy: The War For Market Share Is Only Just Beginning
This Week In Energy: The War For Market Share Is Only Just Beginning This week saw yet more bad news for the oil sector, as the EIA’s latest figures released on Wednesday showed U.S. Inventories at levels not seen since 1982, when the agency first started collecting such data. To put it another way, the last […]
Oil Rig Count Plunges Most Ever, Oil Price Soars, Inventories Too: Catch Falling Knife, Get Fingers Sliced Off
Oil Rig Count Plunges Most Ever, Oil Price Soars, Inventories Too: Catch Falling Knife, Get Fingers Sliced Off The oil industry is dead-serious when it talks about slashing operating cost and capital expenditures. They have to. Preserving cash is suddenly a priority, after years when money was growing on trees. In the US, the cost […]
The Latest Oil Glut: Once Bitten, Twice Shy
The Latest Oil Glut: Once Bitten, Twice Shy It comes as little surprise that the author of a book entitled Snake Oil: How Fracking’s False Promise of Plenty Imperils Our Future is a critic of the natural gas industry and a proponent of peak oil theory. With the recent plunge in oil prices, it feels like the […]
Bearishness Continues Among Oil Industry Experts
Bearishness Continues Among Oil Industry Experts The business world is full of sometimes conflicting theories about what caused the plunge in oil prices during the past seven months, and how low that price will go. But Goldman Sachs seems to have come up with a unified theory. It began late in the afternoon of Jan. […]
Tight Oil Production Will Fade Quickly: The Truth About Rig Counts
Tight Oil Production Will Fade Quickly: The Truth About Rig Counts U.S tight oil production from shale plays will fall more quickly than most assume. Why? High decline rates from shale reservoirs is given. The more interesting reasons are the compounding effects of pad drilling on rig count and poorer average well performance with time. Rig […]
Oil prices fall on market relief over Saudi policy
Oil prices fall on market relief over Saudi policy (Reuters) – Oil prices fell on Monday, with U.S. crude falling close to a nearly six-year low, as Saudi Arabia’s new King Salman moved to assuage fears of an unstable transition and any policy change in the world’s largest oil exporter. Salman was quick to retain veteran Saudi oil […]
The most important thing to understand about the coming oil production cutbacks
The most important thing to understand about the coming oil production cutbacks What the current oil price slump means for world oil supply is starting to emerge. “Layoffs,” “cutbacks,” “delays,” and “cancellations” are words one sees in headlines concerning the oil industry every day. That can only mean one thing in the long run: less […]
Why the Hysteria Over Oil Prices Is Overblown
Why the Hysteria Over Oil Prices Is Overblown Wild stormy weather stops us in our tracks. Factories close. Offices are abandoned. School is cancelled. After the rush to stock up, stores are shuttered. And when the storm hits, it’s all we can think about — especially if the power goes out. It can seem like […]
Iraq Shrugs Off Low Prices, Boosts Output To Record Levels
Iraq Shrugs Off Low Prices, Boosts Output To Record Levels Despite oil prices at their lowest levels in five years, Iraq is producing at record levels. For the month of December, Iraq produced nearly 4 million barrels per day, according to Oil Minister Adel Abdul Mahdi, an all-time high for the war-torn country. That is critical for […]
Fossil Fuel Use is Limited by Climate, if Not by Resources.
Fossil Fuel Use is Limited by Climate, if Not by Resources. We appear to be living in rather peculiar and unsettling times. A year ago, discussions and fears were over the high oil price, which until September 2014, had been above $100 a barrel http://uk.reuters.com/article/2014/09/09/markets-oil-idUKL3N0RA1L220140909. The price rose to $115 in June 2014, but has subsequently […]
Dumb and Dumber: U.S. Crude Oil Export
Dumb and Dumber: U.S. Crude Oil Export Exporting crude oil and natural gas from the United States are among the dumbest energy ideas of all time. Exporting gas is dumb. Exporting oil is dumber. The U.S. imports almost half of the crude oil that we use. We import 7.5 million barrels per day. The chart below shows […]
Be Prepared For An Oil Price Spike
Be Prepared For An Oil Price Spike The recent collapse in oil prices has taken pundits and oil producers by surprise. It was only six months ago that prices were over $100/bbl and at that time they had been above $100/bbl for three and a half years. In fact the stability had become uncanny, so […]
