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In Spite Of Oil Price Slump, Canadian Oil Output To Increase
In Spite Of Oil Price Slump, Canadian Oil Output To Increase It was yet another depressing headline congruent with the rest of the bad news bombarding the battered Canadian oilpatch for 15 months. On February 22 Postmedia (National Post, Calgary Herald, Edmonton Journal) carried the headline, “Canadian oil production growth could come to ‘complete standstill,’ IEA […]
UK Oil Industry At The “Edge Of A Chasm”
UK Oil Industry At The “Edge Of A Chasm” Oil production from the North Sea could plummet over the next decade, an outcome that will largely result from the inability of oil companies to invest in upstream exploration today. Oil & Gas UK, an industry trade group, said in a new report that the North Sea is […]
U.S. Unable To Halt ISIS March Towards Libyan Oil
U.S. Unable To Halt ISIS March Towards Libyan Oil The Islamic State (ISIS) is taking on recruits faster than anyone can keep up with, and it’s heading towards Libya’s oil crescent, eyeing billions of barrels that a country at war with itself cannot protect—even with U.S. air strikes. In mid-December, the United Nations brokered a […]
Gulf States Not Willing To Cut Production Despite Asset Depletion
Gulf States Not Willing To Cut Production Despite Asset Depletion The oil exporting countries of the Gulf Cooperation Council (GCC) are likely to report twin deficits due to the downturn in oil prices and a supply glut that could expand, but even as assets are being depleted at an alarming rate none is in enough trouble to […]
Shale Set To Decline Substantially This Year
Shale Set To Decline Substantially This Year U.S. shale has weathered the oil crash better than many expected, but the stubborn persistence of low prices through 2016 could amount to the “straw breaking the camel’s back” for shale production. The International Energy Agency released its Medium Term Oil Market Report on February 22 at the IHS CERA […]
The Danger Of Low Oil Prices For The Global Economy
The Danger Of Low Oil Prices For The Global Economy Oilprice.com wanted to check in with Dr. John C. Edmunds, a Professor of Finance at Babson College, to get his thoughts on the OPEC deal, oil markets, and some developments in Latin America. He is an expert in international finance, capital markets, foreign exchange risk, and […]
How Far Will The U.S. Go If Turkey Invades Syria?
How Far Will The U.S. Go If Turkey Invades Syria? The Government of Turkey has now put itself in a position whereby it must act rapidly and precipitously to avoid moving to an ultimately losing strategic position in the war against Syria, which could result in being forced back to fight a full-scale civil war […]
UAE Offers India Free Oil To Ease Storage Woes
UAE Offers India Free Oil To Ease Storage Woes In an oil sector first, the oil-rich United Arab Emirates (UAE) has offered free oil to India in return for a storage deal at India’s planned underground facility as the supply glut worsens and some analysts predict that ‘’peak storage” could sending prices crashing further. The […]
Widespread Credit Downgrades Likely For Oil Producing Countries
Widespread Credit Downgrades Likely For Oil Producing Countries Plenty of oil commodity producers are in trouble, and that includes more than a handful of countries whose economies are heavily dependent on oil, gas, and other natural resource exports. In the 1980s, a wave of defaults swept emerging markets, with a large portion of the blame […]
OPEC Will Not Blink First
OPEC Will Not Blink First An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won’t cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil ministers about the possibility of production cuts achieve almost the […]
Oil Glut Compounded By Cracks In Global Economy
Oil Glut Compounded By Cracks In Global Economy Will oil go below $20? Jeffrey Currie, the head of commodities research at Goldman Sachs, said on Bloomberg TV on Tuesday that he wouldn’t be surprised if oil dipped “into the teens.” That would upend the financial prospects for a lot of oil and gas companies. In January, Moody’s […]
Iran Signs Oil Deal With Total, Deal Done In Euros
Iran Signs Oil Deal With Total, Deal Done In Euros As Airbus and Peugeot finally return to post-sanctions Iran, the trade-off is Iranian oil, with French Total SA taking the plunge in an agreement to buy up to 200,000 barrels per day of Iranian crude–but the catch is that sales will be in euros. Deals signed […]
Despite Huge Losses Oil Companies Reluctant To Shut In Production
Despite Huge Losses Oil Companies Reluctant To Shut In Production As energy investors look for reasons to be optimistic, many are keeping close tabs on supply figures. There are some signs that supply is taking a hit from disparate parts of the globe. According to Bloomberg, China might see its output dip by 3 to […]
Global Oil Production On Pause, But Decline Seems Imminent
Global Oil Production On Pause, But Decline Seems Imminent One hundred and seventy-six years after the birth of John Boyd Dunlop, and the crude complex is coming under pressure again. It is Nonfarm Friday, which means that the market is all a’flustered, digesting the soon-to-be-revised official monthly U.S. unemployment report. The report was fairly underwhelming […]
More Oil and Gas Bankruptcies Are Assured
More Oil and Gas Bankruptcies Are Assured 2015 was a terrible year for energy investors, but many investors and even corporate officers may be deluding themselves in believing that if they simply hold on, the good times will return. The reality is that for many oil companies, the future is already written. In the last […]
