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Impatient Banks: A Real Red Flag For The Oil Patch
Impatient Banks: A Real Red Flag For The Oil Patch Lenders to the oil and gas industry have been extraordinarily lenient amid the worst downturn in decades, allowing indebted companies to survive a little while longer in hopes of a rebound in oil prices. But the screws are set to tighten just a bit more […]
Is A Gas War Between The U.S. And Canada About To Start?
Is A Gas War Between The U.S. And Canada About To Start? The United States and Canada work well together. The countries share the world’s largest and most comprehensive trade relationship, exchanging more than $2 billion per day in goods and services; the U.S. is Canada’s largest foreign investor and Canada is the third-largest foreign investor in […]
Export Ban, And Exports Went…Down
Export Ban, And Exports Went…Down Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before, when the ban was still in place. According to Clipper Data market intelligence cited by the Financial Times, […]
China And India Rewrite The Rules Of The Oil And Gas Game
China And India Rewrite The Rules Of The Oil And Gas Game As the current oil price crisis leads to some game-changing upheavals in the global energy market, Asia’s two powerhouses, China and India, are taking advantage of the supply glut to rewrite the long-established rules of business. India and China have seen exponential growth […]
Record Loss For Petrobras As Political And Economic Crisis Worsen
Record Loss For Petrobras As Political And Economic Crisis Worsen Petrobras reported a record loss for the fourth quarter, a horrendous performance that raises questions about the company’s ability to handle its mountain of debt. The state-owned Brazilian oil company announced that it lost more than 36 billion reais in the fourth quarter, or more than USD$10 […]
Oil Prices Fall Fast On Huge Inventory Build
Oil Prices Fall Fast On Huge Inventory Build Two hundred and twenty-two years after Josiah G. Pierson patented the rivet machine, and the oil market remains as riveting as ever. (I’m here all week, folks). After yesterday’s API report gave a flourishing hat-tip towards a large build to crude stocks and a large draw to […]
Supply Outages in OPEC Countries Push Up Oil Prices
Supply Outages in OPEC Countries Push Up Oil Prices Much of the current oil price rally – up about 50 percent in less than two months – is due to the growing optimism in the markets. That is, the price surge is driven by speculative movements, bets that oil prices will rise. However, the speculators […]
The Fed And The Oil Markets On Unsustainable Path As Election Looms
The Fed And The Oil Markets On Unsustainable Path As Election Looms Oil prices have increased 50 percent since the lows exhibited earlier this year, a rise that is largely linked to the positive market reaction to the OPEC output freeze. That comes even as for all intents and purposes OPEC has nearly reached its […]
Why Oil Prices May Not Move Higher
Why Oil Prices May Not Move Higher The oil-price rally that began in mid-February will almost certainly collapse. It is similar to the false March-June 2015 rally. In both cases, prices increased largely because of sentiment. As in the earlier rally, current storage volumes are too large and demand is too weak to sustain higher […]
Court Decision Could Accelerate Oil And Gas Bankruptcies
Court Decision Could Accelerate Oil And Gas Bankruptcies Oil and gas data experts Evaluate Energy showed yesterday that U.S. E&Ps took a huge hit in 2015. With the value of total proved reserves in the sector declining by an astounding $515 billion dollars. The chart below shows just how great the damage is, compared to […]
Oil Price Crash Was Not Saudi Arabia’s Fault
Oil Price Crash Was Not Saudi Arabia’s Fault Quite simply, the Saudis want to maintain their market share, but their means to control that are dwindling. The whole internet is jam-packed with analysis portraying Saudi Arabia and OPEC as villains for the oil price collapse. On a closer look, however, the Saudi’s could have taken […]
Oil Fundamentals Could Cause Oil Prices To Fall, Fast.
Oil Fundamentals Could Cause Oil Prices To Fall, Fast. Oil prices should fall, possibly hard, in coming weeks. That is because fundamentals do not support the present price. Prices should fall to around $30 once the empty nature of an OPEC-plus-Russia production freeze is understood. A return to the grim reality of over-supply and the […]
Will Russia End Up Controlling 73% of Global Oil Supply?
Will Russia End Up Controlling 73% of Global Oil Supply? Russia has played a master stroke in the current oil crisis by taking the lead in forming a new cartel, but it’s a move that could spell geopolitical disaster. The meeting between Russia, Qatar, Saudi Arabia and Venezuela on 16 February 2016 was the first […]
U.S. Has Too Much Oil. So Why Are Imports Rising?
U.S. Has Too Much Oil. So Why Are Imports Rising? Despite domestic production declining and demand surging, the EIA reported oil inventories surge by more than 10 million barrels, or more than three times what was expected. The 10.4 million barrel increase was mostly due to a near record increase in imports of 490,000 b/d […]
Canadian Oil Slammed By Low Prices, Pipeline Woes
Canadian Oil Slammed By Low Prices, Pipeline Woes Canada has been particularly hit hard during the downturn in oil prices. A major oil-producing country, Canada rode the commodity wave upwards over the past decade, but has suffered from the downturn. The economy briefly dipped into a recession in 2015. Even after growth resumed, Canada’s GDP slowed the […]
