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U.S. Oil Glut An EIA Invention?
U.S. Oil Glut An EIA Invention? In the latest weekly production data from the EIA, on the back of recent March revisions, the U.S. managed to post a 76,000 barrel per day increase in the lower 48. Production from Alaska fell by 61,000 barrels per day, putting overall U.S. output 15,000 barrels per day higher for the […]
What Would A Saudi-Russian Partnership Mean For World Energy?
What Would A Saudi-Russian Partnership Mean For World Energy? What happens when two nations, that together account for more than fourth quarter of global oil production, begin collaborating on future energy projects? Russian President Vladimir Putin met Saudi Prince Mohammad in St. Petersburg on June 18 at a meeting in which Saudi Arabia and Russia, […]
The Media Is Wrong About The Fed
The Media Is Wrong About The Fed Earlier this year, most of the financial stories were about how the Fed will start to raise interest rates in June. Much of this speculation was due to the lower unemployment rate, and the expectation that the U.S. economy would be in full recovery. This past Wednesday, the Fed […]
Why A U.S Shale Slowdown Will Hardly Effect Oil Prices
Why A U.S Shale Slowdown Will Hardly Effect Oil Prices Just last week I wrote on the possibility of a renewed downturn in oil prices, owing to the fact that huge volumes of supplies could potentially come online in places like Iraq, Libya, and Iran. That is still the case. But let’s look at the other side […]
How Big Oil Was Saved From The Oil Price Crash
How Big Oil Was Saved From The Oil Price Crash Low oil prices have been less of a drag on the big integrated oil companies than it has for smaller producers. Diversified portfolios have allowed the largest oil companies to weather the storm better than their smaller competitors. To be sure, Big Oil has not […]
Peak Oil: Myth Or Coming Reality?
Peak Oil: Myth Or Coming Reality? In 1956, a geoscientist named M. King Hubbert formulated a theory which suggested that U.S. oil production would eventually reach a point at which the rate of oil production would stop growing. After production hit that peak, it would enter terminal decline. The resulting production profile would resemble a […]
Don’t Believe The Hype On U.S. Shale Growth
Don’t Believe The Hype On U.S. Shale Growth The OPEC Free Fall There is a popular narrative going around that I want to address in today’s article. Last November, after several months of plummeting crude oil prices, the Organization of the Petroleum Exporting Countries (OPEC) met to discuss the oil production quotas for each country […]
A Glut For Natural Gas Too?
A Glut For Natural Gas Too? Oil is not the only energy source that is seeing a glut. Growing supplies of natural gas could soon result in a similar phenomenon. It was only a year and a half ago that the United States, and the northeast in particular, saw supplies dwindle to exceptionally low levels, […]
Busting The “Canadian Bakken” Myth
Busting The “Canadian Bakken” Myth The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. The report by Canada’s National Energy Board (NEB) evaluated, for the […]
Global Oil Shortage Before Year’s End? Surely Not…
Global Oil Shortage Before Year’s End? Surely Not… Now that OPEC has left its production quota unchanged, the world will continue to see a glut in supplies, right? Some analysts aren’t so sure. Sanford C. Bernstein predicts that by the end of the year global demand will outstrip supply by an estimated 1.5 million barrels per day. […]
Price Manipulation In The Oil Markets?
Price Manipulation In The Oil Markets? According to Reuters, Arcadia Petroleum Ltd, and its Parnon Energy unit have settled a $16.5 million civil suit filed against them for manipulating futures prices. This comes after a prior settlement with the US Commodities Futures Trading Commission whereby both entities were banned for trading futures for three years. […]
Asian Financial Sector Hit Hard By Low Oil Prices
Asian Financial Sector Hit Hard By Low Oil Prices Cheap oil can often be a double edged sword. On the one hand, it has been beneficial for the emerging global economies of India and China, who seized the opportunity to expand their strategic petroleum reserves (SPR), while on the other hand, it has created an […]
Cold Shoulder For Russia Could Hint At OPEC Decision June 5th
Cold Shoulder For Russia Could Hint At OPEC Decision June 5th Before the November 2014 OPEC meeting in Vienna, the head of Russia’s state-owned oil company Rosneft flew to Vienna to meet with OPEC members. The meeting demonstrated Russia’s interest in stopping oil prices from falling further, as it pushed OPEC to cut back on oil […]
We May Not See Arctic Oil For Decades
We May Not See Arctic Oil For Decades Shell’s Arctic campaign this year will be pivotal. If the company cannot find large reserves of oil, it will likely set back Arctic oil development for a generation. The Financial Times reported that Royal Dutch Shell will not see Arctic oil come online anytime soon, even in the best […]
How Much Longer Can The Oil Age Last?
How Much Longer Can The Oil Age Last? History has been so fascinated with oil and its price movements that it is indeed hard to imagine our future without oil. Over the last few months, we have witnessed how oil prices have fluctuated from a 6 year low level of $42.98 per barrel in March […]
