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Is An Oil Supply Crunch Inevitable?
Is An Oil Supply Crunch Inevitable? Global oil demand will peak by 2040, according to a new report, although oil supply shortages could emerge before then. The International Energy Agency (IEA) published its highly-anticipated World Energy Outlook 2018 on Tuesday, one of the most important energy forecasting reports published each year. In this year’s Outlook, […]
Saudis Scramble To Stop Oil Price Slide
Saudis Scramble To Stop Oil Price Slide Saudi Arabia is moving quickly to halt the slide in oil prices, telegraphing a production cut intended to erase some of the re-emerging supply surplus. Saudi oil minister Khalid al-Falih said on Monday that the kingdom would slash oil exports by 500,000 bpd in December, a move that […]
Venezuela’s Glaring Gasoline Crisis
Venezuela’s Glaring Gasoline Crisis Iran has dominated the headlines over the last few weeks, but Venezuela’s oil sector continues to meltdown. Venezuela’s oil production fell to just 1.197 million barrels per day in September, down 42,000 bpd from a month earlier. However, because things are moving so quickly, that figure is now woefully out of […]
Nat Gas Prices Spike On Cold Weather
Nat Gas Prices Spike On Cold Weather Natural gas prices are sharply up as cold weather is set to sweep much of the country, putting a strain on already low storage levels. We are heading into the winter season with natural gas inventories at their lowest level in 15 years. Natural gas inventories stood at […]
Why Trump Decided To Back Down On Iran
Why Trump Decided To Back Down On Iran The Trump administration has finally faced up to what many knew all along: It won’t be able to take Iran’s oil exports down to zero. The U.S. is set to grant waivers to eight countries, allowing them to continue to import some level of oil from Iran, […]
U.S. And OPEC Flood Oil Market Ahead Of Midterms
U.S. And OPEC Flood Oil Market Ahead Of Midterms OPEC and the U.S. are together adding enormous volumes of new supply, which together have softened the oil market. In October, OPEC hiked oil production to the highest level since 2016, back before the oil production cuts went into effect, according to a recent Reuters survey. […]
Cold Snap Could Send Natural Gas To $5
Cold Snap Could Send Natural Gas To $5 The natural gas market is looking rather tight, even as U.S. production continues to set new records. Inventories fell sharply last winter, leaving the country a little light on stocks heading into injection season. That did not concern the market much, with record-setting production expected to replenish […]
Big Oil Won’t Spend Despite Fat Profits
Big Oil Won’t Spend Despite Fat Profits Higher oil prices are expected to leave the oil industry flush with cash, but the “capital discipline” mantra remains. Market watchers have wondered whether top oil executives would eschew with tight-fisted spending plans once their pockets fattened up again. “We’re laser focused on disciplined free cash flow generation […]
Is The Oil Supply Glut Set To Return?
Is The Oil Supply Glut Set To Return? Is the oil market tightening too much or is a glut on the verge of making a comeback? There were a series of mixed messages from both OPEC and the IEA in recent days, offering a muddy outlook for the oil market. First was the TASS interview […]
Petro-States Face Extinction
Petro-States Face Extinction Petro-states urgently need to begin diversifying their economies, shifting away from oil production, or else they face financial risks in the years ahead. That conclusion comes from the IEA’s new report, “Outlook for Producer Economies,” which warns that a changing energy system threatens the economies of oil-producing countries. The threat comes in […]
Why Is Canadian Crude Selling For $20?
Why Is Canadian Crude Selling For $20? Oil prices in Canada plunged late last month, with the losses continuing throughout much of October. Canadian oil producers exposed to the low prices are now fetching around $40 to 50 per barrel less than their counterparts in the United States. Western Canada Select (WCS), which tracks heavy […]
This Alliance Could Mark A New Era For Oil
This Alliance Could Mark A New Era For Oil Saudi Arabia and Russia could formalize a strategic partnership that would last indefinitely, potentially marking a new era for the oil market. In a wide-ranging interview with TASS, Saudi oil minister Khalid al-Falih said that he hopes to setup an official OPEC+ governing body, including a […]
U.S. Shale Has A Glaring Problem
U.S. Shale Has A Glaring Problem Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of U.S. shale companies are still struggling to turn a profit. A new report from the Institute for Energy Economics and Financial Analysis […]
Oil Markets Tremble As Chinese Stocks Crash
Oil Markets Tremble As Chinese Stocks Crash China’s stock market fell sharply on Thursday, dragged down by a range of concerns that should offer a warning to the broader global economy. The Shanghai Composite Index fell nearly 3 percent on Thursday, falling to its lowest point in nearly four years. The problems in China are […]
U.S. Shale’s Glory Days Are Numbered
U.S. Shale’s Glory Days Are Numbered There are some early signs that the U.S. shale industry is starting to show its age, with depletion rates on the rise. A study from Wood Mackenzie found that some wells in the Permian Wolfcamp were suffering from decline rates at or above 15 percent after five years, much […]
