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EIA On Board With Lifting U.S. Crude Export Ban
EIA On Board With Lifting U.S. Crude Export Ban A new report from the Energy Information Administration adds more weight to the notion that crude oil exports from the U.S. would not damage the economy. The EIA studied the prospect of oil exports in response to questions from Congress, and it builds on several prior reports completed […]
Financial Sector To Cut Credit Supply Lines For Oil And Gas Industry
Financial Sector To Cut Credit Supply Lines For Oil And Gas Industry More U.S. oil and gas companies could come under financial distress in the coming months as crucial hedging protection begins to expire. Many companies had locked in high prices for their oil sales last year, allowing them a degree of protection as oil […]
Why Saudi Arabia Won’t Cut Oil Production
Why Saudi Arabia Won’t Cut Oil Production Nine months after OPEC decided to leave its production target unchanged and pursue market share instead of trying to prop up prices, the group is facing a set of complex problems and decisions going forward. At first blush, the collapse of oil prices and the resiliency of U.S. […]
Oil Price Collapse Triggers Currency Crisis In Emerging Markets
Oil Price Collapse Triggers Currency Crisis In Emerging Markets Emerging market currencies are getting slammed by the collapse in commodity prices, a downturn that has accelerated in recent weeks. The health of many middle-income and emerging market economies has been predicated on relatively strong commodity prices. A whole category of countries achieved strong growth by […]
Low Oil Prices Could Break The “Fragile Five” Producing Nations
Low Oil Prices Could Break The “Fragile Five” Producing Nations Persistently low oil prices have already inflicted economic pain on oil-producing countries. But with crude sticking near six-year lows, the risk of political turmoil is starting to rise. There are several countries in which the risks are the greatest – Algeria, Iraq, Libya, Nigeria, and […]
Low Oil Prices And China Pull The Rug From Under Latin America
Low Oil Prices And China Pull The Rug From Under Latin America When China sneezes, the world gets a cold. The world’s second largest economy is suddenly looking unstable, with economic growth slowing, the stock markets gyrating, and a surprise currency devaluation having taken worldwide markets by surprise. That could be bad news not just […]
Global Oil Supply More Fragile Than You Think
Global Oil Supply More Fragile Than You Think Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the rebound in April and May to $60 per barrel from the mid-$40s suggested that the severe drop was merely temporary. But the collapse of prices in July – owing […]
EPA’s Clean Power Plan Tougher Than Expected
EPA’s Clean Power Plan Tougher Than Expected The Obama administration unveiled a much-anticipated, controversial rule on the regulation of greenhouse gases from power plants on August 3. The first-of-their-kind limits on carbon pollution from existing power plants will actually require slightly tougher cuts than the original proposal. The EPA is calling for a 32 percent reduction in […]
Recession Risk Mounting For Canada
Recession Risk Mounting For Canada The latest economic data from Canada shows that it is inching towards recession, after its economy posted its fifth straight month of contraction. Statistics Canada revealed on July 31 that the Canadian economy shrank by 0.2 percent on an annualized basis in May, perhaps pushing the country over the edge into recessionary […]
Oil Price Rebound Looking Unlikely
Oil Price Rebound Looking Unlikely Oil prices may have firmed up a bit this spring, but we could be heading into another protracted period of weak prices. First there are the demand risks. The Chinese stock market turmoil raises serious concerns over a potential financial crisis, which, needless to say, would be negative for oil prices. The […]
EIA Confirms: Oil Production Peaked
EIA Confirms: Oil Production Peaked U.S. oil production has peaked…at least for now. That is the conclusion from a new government report that concludes that U.S. oil production is on the decline. After questions surrounding the resilience of U.S. shale and when low oil prices would finally cut into production, the EIA says the month […]
Why A U.S Shale Slowdown Will Hardly Effect Oil Prices
Why A U.S Shale Slowdown Will Hardly Effect Oil Prices Just last week I wrote on the possibility of a renewed downturn in oil prices, owing to the fact that huge volumes of supplies could potentially come online in places like Iraq, Libya, and Iran. That is still the case. But let’s look at the other side […]
How Big Oil Was Saved From The Oil Price Crash
How Big Oil Was Saved From The Oil Price Crash Low oil prices have been less of a drag on the big integrated oil companies than it has for smaller producers. Diversified portfolios have allowed the largest oil companies to weather the storm better than their smaller competitors. To be sure, Big Oil has not […]
Cold Shoulder For Russia Could Hint At OPEC Decision June 5th
Cold Shoulder For Russia Could Hint At OPEC Decision June 5th Before the November 2014 OPEC meeting in Vienna, the head of Russia’s state-owned oil company Rosneft flew to Vienna to meet with OPEC members. The meeting demonstrated Russia’s interest in stopping oil prices from falling further, as it pushed OPEC to cut back on oil […]
