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What Is A ‘Fair’ Price For Oil?
What Is A ‘Fair’ Price For Oil? Last week, oil prices hit their highest level since late 2014 on the back of continued global and U.S. stockpile drawdowns and expectations that oil demand growth will stay strong this year. Analysts and officials are once again trying to predict what a ‘fair’ price for oil is […]
Russia Bets Big On Arctic Oil
Russia Bets Big On Arctic Oil Gazprom Neft, Russia’s fourth largest oil producer, has big plans for its Arctic oil operations, and it seems that neither sanctions nor production cuts can force it to quit its presence there. In fact, the oil division of Gazprom will try to turn itself into what its head of […]
Saudi Arabia’s $100 Oil Dilemma
Saudi Arabia’s $100 Oil Dilemma Saudi Arabia is rumored to want oil prices at $100 per barrel, but if prices rise that high, it could sow the seeds of the next downturn. Saudi officials want more revenues for their budget and a higher oil price to bolster the valuation of the Aramco IPO. But that […]
A Crisis At The Heart Of U.S. Shale
A Crisis At The Heart Of U.S. Shale The bottlenecks in the Permian are starting to capture the attention of the oil market, raising the prospect that U.S. shale production does not live up to the hype. The frenzy in West Texas has predictably led to bottlenecks up and down the supply chain. Oil drillers […]
Venezuelan Oil Enters The Disaster Zone
Venezuelan Oil Enters The Disaster Zone The decline of Venezuela’s oil production for the foreseeable future has been assumed, and to a large extent, already priced into the market. However, an acceleration in the rate of decline is possible, and a few recent developments raise the odds that such a disaster will become a reality. […]
$100 Oil Is Back On The Table
$100 Oil Is Back On The Table Oil prices will rise to $100 per barrel if Saudi Arabia gets its way. Only a week ago, news surfaced that Saudi officials were quietly hoping to push oil prices up to $80 per barrel, which would help boost the valuation of Saudi Aramco IPO. But why not […]
IEA: U.S.-China Trade Row Could Dampen Oil Demand Growth
IEA: U.S.-China Trade Row Could Dampen Oil Demand Growth OPEC is very close to achieving its mission to draw oil inventories down to their five-year average, but the ongoing U.S.-China trade spat is a risk to oil demand growth expectations this year, the International Energy Agency (IEA) said in its Oil Market Report on Friday. […]
Disaster Hits Canada’s Oil Sands
Disaster Hits Canada’s Oil Sands Kinder Morgan said it would halt nearly all work on a pipeline project that is crucial to the entire Canadian oil sands industry, representing a huge blow to Alberta’s efforts to move oil to market. Kinder Morgan’s Trans Mountain Expansion is the largest, and one of the very few, pipeline […]
Has The World Started To Kick Its Oil Addiction?
Has The World Started To Kick Its Oil Addiction? Until a decade ago, most of the world was a captive customer of oil—consumers would pay any price for gasoline and oil demand was soaring regardless of the surging oil prices. But recently, many countries around the world have started to show more sensitivity to oil […]
Trade War Looms Over Oil Markets
Trade War Looms Over Oil Markets Oil prices, along with equities across the board, were dragged down on Monday over fears of a brewing trade war. China announced $3 billion of tariffs on U.S. goods, including pork and recycled aluminum. The move came as a retaliation to the Trump administration’s 25 percent tariff on steel […]
Are We Sleepwalking Into The Next Oil Crisis?
Are We Sleepwalking Into The Next Oil Crisis? One school of thought is that future oil demand is set to decline because consumers will have better options. Many in this “peak demand” camp believe that the growth of electric vehicles will soon make oil obsolete. That’s a relatively painless view of the future and is […]
Europe’s Biggest Gas Field To Close Over Quake Risk
Europe’s Biggest Gas Field To Close Over Quake Risk Europe’s biggest gas field–Groningen in the north of the Netherlands–has been pumping gas for more than half a century and supplies gas to 98 percent of the Dutch population. But the field has been causing earthquakes that have become a growing concern for residents and authorities. […]
The Struggle Continues For Bankrupt Shale Drillers
The Struggle Continues For Bankrupt Shale Drillers Remember the wave of bankruptcies that hit shale E&Ps and oilfield services providers in the shale patch between 2015 and 2017? Over those two years, more than 120 oil and gas producers filed for bankruptcy protection in the United States, figures from Haynes & Boone showed last year. […]
Alberta’s Aggressive Renewable Energy Push
Alberta’s Aggressive Renewable Energy Push One Canadian province has set its sights on generating almost a third of its electricity from renewable sources by 2030. This will take some US$7.77 billion (C$10 billion) in investments by that year to add 5 GW of renewable capacity, creating more than 7,000 jobs. The province is Alberta—the center […]
