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Tag Archives: oil production
Glut Or Deficit: Where Are Oil Markets Headed?
Glut Or Deficit: Where Are Oil Markets Headed? A flurry of recent oil market forecasts have sent a lot of mixed messages about what to expect both in the near-term and over the next several years. Is U.S. shale about to flood the market, setting off another bust? Or is demand so strong that with […]
MEXICO’S OIL INDUSTRY CONTINUES TO DISINTEGRATE: PEMEX Suffers $18 Billion Loss
MEXICO’S OIL INDUSTRY CONTINUES TO DISINTEGRATE: PEMEX Suffers $18 Billion Loss The situation in Mexico’s oil industry continues to rapidly disintegrate as falling oil production and rising costs resulted in an $18 billion fourth-quarter loss for the state-run oil company, PEMEX. Part of the reason for the huge financial loss at PEMEX was the fall […]
OPEC Looks To Dial Back Production Cuts
OPEC Looks To Dial Back Production Cuts Last week’s surprise drawdown in crude inventories may be the last for a while, as analysts are expecting a reversal in stocks this week. (Click to enlarge) (Click to enlarge) (Click to enlarge) – China became the second largest LNG importer in 2017, surpassing South Korea. – China’s […]
By 2020 it may be clear to everyone that oil decline has begun
By 2020 it may be clear to everyone that oil decline has begun Preface. There are two parts to Dittmar’s study. The first one concerns production, based on the most recent years of oil production. Dittmar found a strong pattern of oil decline after the plateau of 3% a year for five years, followed by […]
Burn Out: The Endgame for Fossil Fuels. Dieter Helm.
Burn Out: The Endgame for Fossil Fuels. Dieter Helm. Book review Ironically, given its theme, as published early in 2017, “Burn Out: The Endgame for Fossil Fuels” shortly preceded the announcement made by President Trump of the withdrawal by the United States from the Paris Agreement on climate change, driven primarily by an aim […]
Saudi/Russia-Led Oil Supergroup In The Making
Saudi/Russia-Led Oil Supergroup In The Making OPEC and the non-OPEC producers’ part of the production cuts deal will have a plan for long-term cooperation drafted by the end of 2018, as they seek to institutionalize their current collaboration into a supergroup of oil producers led by Saudi Arabia and Russia, the UAE’s Energy Minister Suhail […]
Oil Prices: Collapse Now, Spike Later
Oil Prices: Collapse Now, Spike Later Oil prices closed out the week sharply down, wiping out all the gains posted since the start of the year. Surging U.S. shale production, along with broader financial turmoil, has clearly put an end to the bullish mood in the oil market. U.S. shale struck several blows against oil […]
U.S. Shale Companies Are Ready To Expand
U.S. Shale Companies Are Ready To Expand The latest oil rally, which sees crude trading at close to its highest point in three years, is sufficient to garner considerable attention from market pundits, industry insiders and investors alike. It has raised the ugly specter of a sharp uptick in U.S. oil production driven by the […]
Venezuela Is Moving From Crisis To Collapse
Venezuela Is Moving From Crisis To Collapse Venezuela’s slumping oil production is a “clear and present danger” to the oil market, RBC Capital Markets said this week. Venezuela’s production continues to fall at a frightening clip, falling to about 1.6-1.7 million barrels per day (mb/d) in December. On an annual basis, Barclays predicts that Venezuela’s […]
U.S. Oil Production Is Rising Much Faster Than Expected
U.S. Oil Production Is Rising Much Faster Than Expected Shale executives have gone to great lengths to convince investors that they will not drill aggressively now that oil prices have rallied into the $60s. But in a new report released on Tuesday, the EIA essentially said that those assurances are just a lot of hot […]
Oil Production Vital Statistics January 2018
Oil Production Vital Statistics January 2018 The oil price has begun 2018 strongly with Brent breaking through $70 / bbl for the first time since December 2014. OPEC+Russia+others’ discipline on production constraint remains high with ~ 1.7 Mbd production withheld from the market. The IEA reports an ~1 Mbpd stock draw in the OECD + […]
The 10 Oil Projects Adding 1.1 Million Bpd To Global Supply
The 10 Oil Projects Adding 1.1 Million Bpd To Global Supply The ten largest upcoming onshore oil projects worldwide are expected to add 1.135 million bpdto the global oil supply by 2025, according to research and analytics firm GlobalData. The ten biggest onshore projects—out of a total of 126 such developments worldwide—are expected to consume […]
