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$60 Oil Will Not Last Long
$60 Oil Will Not Last Long U.S. oil prices are treading water above $US 60/B (WTI) again, the first time since 2015. Crude oil has a northerly wind in its sails, though everybody on board this fickle ship is cautious about its compass bearing. Since 2013 we’ve seen the price of a barrel peak to […]
3 Million Barrels Per Day Could Go Offline In 2018
3 Million Barrels Per Day Could Go Offline In 2018 Venezuela’s oil production has been falling for years, but 2018 could mark a new, darker chapter for the South American nation. Late last year, Venezuela’s government defaulted on millions of dollars’ worth of debt, with larger and more significant payments maturing this year. The ability to […]
Iran Sanctions Will Help China’s Petro-Yuan
Iran Sanctions Will Help China’s Petro-Yuan In a few days, U.S. President Trump may try to re-impose sanctions on Iran, a dramatic step that could heighten tensions between the two countries. Some analysts believe the move could contribute to a much broader global economic power shift from the U.S. to China. The connection between the […]
Is This The Beginning Of An Oil Sands Revival?
Is This The Beginning Of An Oil Sands Revival? New life was breathed into the Canadian oil sands with a decision by foreign-owned Harvest Operations Corp to commission its BlackGold project south of Fort McMurray. The Calgary-based arm of South Korean state-owned Korea National Oil Corp announced on Dec. 21 it will start the 10,000 […]
The 5 Most Popular Energy Stories Of 2017
The 5 Most Popular Energy Stories Of 2017 The year in which WTI went from barely above $50 to over $60 a barrel and Brent hit OPEC’s much sought after $65 was full of the usual mix of price forecasts, warnings, and unpredictable events that left readers wondering what will happen next… Here are five […]
What’s Behind The Canadian Rig Count Crash
What’s Behind The Canadian Rig Count Crash The U.S. rig count has been on the rise for months, despite some recent hiccups, but Canada’s rig count recently plunged amid low oil prices. Canada’s rig count fell from 210 to 136 for the week ending on December 29, a massive drop off. That took the rig […]
The 10 Energy Stories That Defined 2017
The 10 Energy Stories That Defined 2017 As 2017 comes to a close, it’s time to review the top energy stories of the year. There are several stories that could compete for the year’s top spot, but this year I have decided to list the stories roughly in the order they occurred during the year. […]
Iranian Crisis Could Send Oil To $100
Iranian Crisis Could Send Oil To $100 Oil prices started the year on a high note as some geopolitical tension pushed aside bearish concerns. Both WTI and Brent opened above $60 per barrel for the first time in years. The protests in Iran were the main driver of the bullish sentiment in the oil market. […]
Russia’s Grip On European Gas Markets Is Tightening
Russia’s Grip On European Gas Markets Is Tightening Despite years of effort from the EU, Russia’s grip over natural gas supplies in Europe is tightening, not waning. Gazprom shipped 190 billion cubic meters of natural gas to Europe in 2017—a record high, according to Bloomberg. In 2018, that figure is expected to dip slightly to […]
U.S. Shale Can’t Offset Record-Low Oil Discoveries
U.S. Shale Can’t Offset Record-Low Oil Discoveries The U.S. shale resurgence has been one of the main themes in oil markets this year, while OPEC’s production cut deal to deplete the oil overhang and boost oil prices has been the other key development in 2017. U.S. shale production is expected to grow over the next […]
The Biggest Oil Story Of 2017
The Biggest Oil Story Of 2017 There have been plenty of eye-catching stories in the energy industry this year, but one notable development has been the rise of the U.S. as a crude oil exporter. The ban on crude exports from the U.S. was lifted at the end of 2015, and exports ticked up in […]
U.S. Rig Count Falls Slightly As Canada’s Rig Count Tanks
U.S. Rig Count Falls Slightly As Canada’s Rig Count Tanks The number of active oil and gas rigs dipped this week, according to Baker Hughes data, decreasing by 2 rigs, bringing the total rigs to 929 rigs, which is an addition of 271 rigs for the 2017 calendar year. The number of oil rigs in […]
Oil Giants Are Increasingly Focused On Sustainability
Oil Giants Are Increasingly Focused On Sustainability Pioneer Natural Resources just published its first Sustainability Report, a sign that a growing number of oil companies are feeling the heat from investors over climate change. Environmental groups have mostly targeted the largest oil companies, both because their sheer size means that they have a larger impact […]
Trump To Rollback Deepwater Horizon Regulations
Trump To Rollback Deepwater Horizon Regulations The Trump administration is hoping to slash regulations on offshore oil drilling that were implemented after the 2010 Deepwater Horizon disaster that killed nearly a dozen people and led to an oil leak that spewed for months. According to the Wall Street Journal, the Bureau of Safety and Environmental […]
The Top 8 Unknowns In 2018’s Energy Markets
The Top 8 Unknowns In 2018’s Energy Markets It’s that time of year when we flip our calendars to a new start. For pundits like me, it’s customary to make a listicle about the year to come – the usual predictions about things like OPEC, energy consumption, commodity prices and electric vehicle sales in China. […]
