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Tag Archives: oil production
One of These Things Is Not Like The Others: IEA’s January Report
One of These Things Is Not Like The Others: IEA’s January Report Remember the Sesame Street song? One of these things is not like the others, One of these things just doesn’t belong, Can you tell which thing is not like the others By the time I finish my song? OK. Which curve on […]
Kurd Oil Producers Unrelenting to Boost Supply at low Prices
Kurd Oil Producers Unrelenting to Boost Supply at low Prices Oil producers in Iraqi Kurdistan are unrelenting in their goal to boost output even after the collapse in international prices to below $50 a barrel. Genel Energy Plc (GENL), headed by former BP Plc chief Tony Hayward, is sticking with plans to increase capacity 74 percent to 400,000 […]
Alberta One Of Hardest Hit By Lower Oil Prices
Alberta One Of Hardest Hit By Lower Oil Prices The week ending Jan. 17 was a bad one for Alberta, the Canadian province that once was enjoying an oil boom. Schlumberger, the oil services giant in Canada’s west, cut spending dramatically, postponed projects in the region and announced 9,000 layoffs for its worldwide operations. Suncor Energy […]
Whiplash!
Whiplash! Over the course of 2014 the prices the world pays for crude oil have tumbled from over $125 per barrel to around $45 per barrel now, and could easily drop further before heading much higher before collapsing again before spiking again. You get the idea. In the end, the wild whipsawing of the oil […]
Fossil Fuel Use is Limited by Climate, if Not by Resources.
Fossil Fuel Use is Limited by Climate, if Not by Resources. We appear to be living in rather peculiar and unsettling times. A year ago, discussions and fears were over the high oil price, which until September 2014, had been above $100 a barrel http://uk.reuters.com/article/2014/09/09/markets-oil-idUKL3N0RA1L220140909. The price rose to $115 in June 2014, but has subsequently […]
Be Prepared For An Oil Price Spike
Be Prepared For An Oil Price Spike The recent collapse in oil prices has taken pundits and oil producers by surprise. It was only six months ago that prices were over $100/bbl and at that time they had been above $100/bbl for three and a half years. In fact the stability had become uncanny, so […]
At Last The ‘Experts’ Wake Up To Oil
At Last The ‘Experts’ Wake Up To Oil Boy, did the ‘experts’ and ‘analysts’ drop the ball on this one, or what’s the story. Only today, Goldman’s highly paid analysts admitted they’ve been dead wrong from months, that their prediction that OPEC would cut production will not happen, and that therefore oil may go as […]
Oil Producers Betting on Price Drop With OPEC Not Curbing Output
Oil Producers Betting on Price Drop With OPEC Not Curbing Output The oil industry was listening as OPEC talked down crude prices to a more than five-year low. Drillers, refiners and other merchants increasedbets on lower prices to the most in three years in the week ended Jan. 6, government data show. Producers idled the most […]
What Will 2015 do for Peak Oil?
What Will 2015 do for Peak Oil? The Cornucopians are exuberant, they believe that collapsing of oil prices dealt the death knell for peak oil. An oil glut, they say, is what we have, not peak oil. But an oil glut is exactly what we would expect at the very peak. After all, that is […]
US Rig Count Crashes At Fastest Pace Since 2009 To 14-Month Lows
US Rig Count Crashes At Fastest Pace Since 2009 To 14-Month Lows Just as T.Boone Pickens warned, US Rig Counts are plunging. Down by 61 this week alone – the biggest weekly drop in over 5 years – at 1,750, this is now the lowest since November 2013 (and very close the lowest since 2010). The 10% or […]
Oil heads for seventh weekly loss as supply glut drags
Oil heads for seventh weekly loss as supply glut drags (Reuters) – Oil prices headed for a seventh straight weekly loss on Friday, with key producers showing no sign of cutting output in the face of a global supply glut. Global oil benchmarks hit their lowest since 2009 this week and are down more than […]
Oil Production Vital Statistics January 2015
Oil Production Vital Statistics January 2015 Another ‘guest post’ by Euan Mearns at Energy Matters. I thought that, given developments in oil prices, we can do with some good solid numbers on production. Euan Mearns: This is the first in a monthly series of posts chronicling the action in the global oil market in 12 key charts. […]
Saudi War On Shale Goes Nuclear – “No Chance OPEC Will Cut Output” Even With Brent Under $50
Saudi War On Shale Goes Nuclear – “No Chance OPEC Will Cut Output” Even With Brent Under $50 For those hoping that the recent brief dip in Brent crude below $50 – most notably Venezuela’s intrepid socialist leader Nicolas Maduro whose numbered days get shorter with every day Brent closes red, and countless bondholders of junk- […]
Oil and the Economy: Where are We Headed in 2015-16?
Oil and the Economy: Where are We Headed in 2015-16? The price of oil is down. How should we expect the economy to perform in 2015 and 2016? Newspapers in the United States seem to emphasize the positive aspects of the drop in prices. I have written Ten Reasons Why High Oil Prices are a Problem. If […]
US Sees Huge Energy Opportunity In Europe
US Sees Huge Energy Opportunity In Europe If 2015 is anything like 2014 we can expect a wild ride. Oil price volatility – including its downward trend – will linger well into the first and second quarters as global production persists and key conflicts in Eastern Europe and the Middle East show no end. For […]
