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The Rapid Acceleration Towards Peak Oil Demand
The Rapid Acceleration Towards Peak Oil Demand The drumbeat towards peak oil demand is accelerating, but since much of the acceleration is happening outside of the United States, its cadence is muted. To be clear, the developed world passed peak oil demand a decade ago and has for years been forecast to continue reducing its […]
Why Trump Decided To Back Down On Iran
Why Trump Decided To Back Down On Iran The Trump administration has finally faced up to what many knew all along: It won’t be able to take Iran’s oil exports down to zero. The U.S. is set to grant waivers to eight countries, allowing them to continue to import some level of oil from Iran, […]
Oil, Gas Drilling In Canada Set For A Decline
Oil, Gas Drilling In Canada Set For A Decline Drilling for oil and gas in Canada will likely decline by 5 percent in 2019, the Petroleum Services Association of Canada has forecast, blaming pipeline capacity shortages and the resultant discount in Canadian heavy to the West Texas Intermediate benchmark for the outlook. The PSAC said […]
Iran’s Top Oil Customers Resist U.S. Calls For Zero Imports
Iran’s Top Oil Customers Resist U.S. Calls For Zero Imports Just a few days before U.S. sanctions on Iranian oil exports return on November 5, the keywords about how much of Iran’s oil will come off the market are ‘lack of clarity’. On the one hand, it’s unclear how much Iranian oil will really be […]
U.S. And OPEC Flood Oil Market Ahead Of Midterms
U.S. And OPEC Flood Oil Market Ahead Of Midterms OPEC and the U.S. are together adding enormous volumes of new supply, which together have softened the oil market. In October, OPEC hiked oil production to the highest level since 2016, back before the oil production cuts went into effect, according to a recent Reuters survey. […]
Trump: There’s Enough Oil To Offset Iran Loss
Trump: There’s Enough Oil To Offset Iran Loss President Donald Trump has determined there was enough crude oil and oil products supply globally to offset any loss of supply from Iran after U.S. sanctions enter into force next week. In a memorandum, Trump said “there is a sufficient supply of petroleum and petroleum products from […]
World’s Cheapest Natural Gas Market Could Be Facing A Shortage
World’s Cheapest Natural Gas Market Could Be Facing A Shortage A natural gas shortage in Canada is expected to last through the winter months, forcing gas users ranging from industrial forces to local governments to seek alternative fuel sources and strategies for slashing consumption and conserving the gas they have. The shortage stems from this […]
Canada Lacks A Successful Energy Strategy
Canada Lacks A Successful Energy Strategy “Canada has no energy plan beyond pedal-to-the-metal export of its non-renewable energy assets.” That’s the bottom line of a recent opinion piece in Calgary Herald by David Hughes, an earth scientist and research associate with the Canadian Centre for Policy Alternatives. Canada needs a long-term energy plan to wean […]
Cold Snap Could Send Natural Gas To $5
Cold Snap Could Send Natural Gas To $5 The natural gas market is looking rather tight, even as U.S. production continues to set new records. Inventories fell sharply last winter, leaving the country a little light on stocks heading into injection season. That did not concern the market much, with record-setting production expected to replenish […]
UK Fracking Pauses, Again
UK Fracking Pauses, Again For the second time in two weeks since Cuadrilla started fracking at an exploration site in northwest England—resuming hydraulic fracturing in the UK for the first time in seven years—the company had to stop operations on Monday due to a micro seismic event measuring above the threshold requiring a halt. Cuadrilla […]
Iran’s Worst Nightmare Is Coming True
Iran’s Worst Nightmare Is Coming True In what must seem like a nightmare scenario for Iran, not only is another U.S. president leveling sanctions against its economy, and particularly that economy’s lifeblood, its oil sector, but the current U.S. president has admittedly made it his mission to drive Tehran to its knees over what he […]
Big Oil Won’t Spend Despite Fat Profits
Big Oil Won’t Spend Despite Fat Profits Higher oil prices are expected to leave the oil industry flush with cash, but the “capital discipline” mantra remains. Market watchers have wondered whether top oil executives would eschew with tight-fisted spending plans once their pockets fattened up again. “We’re laser focused on disciplined free cash flow generation […]
Is A Diesel Crunch Coming?
Is A Diesel Crunch Coming? The new ship fuel regulations coming into force at the start of 2020 are set to create an initial confusion on the refining market and crude oil and oil product trade flows, analysts and industry experts say. We are now just 14 months away from January 1, 2020—the start date […]
Is The Oil Supply Glut Set To Return?
Is The Oil Supply Glut Set To Return? Is the oil market tightening too much or is a glut on the verge of making a comeback? There were a series of mixed messages from both OPEC and the IEA in recent days, offering a muddy outlook for the oil market. First was the TASS interview […]
Why Oil Prices Could Still Go Lower
Why Oil Prices Could Still Go Lower Crude markets had a panic attack in August and September that sent prices soaring. Sanity is now returning. Prices have fallen but are likely to move even lower over the next few months. The panic attack was caused largely by Trump’s August 7 announcement that sanctions would be […]
