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U.S. Oil Outlook Slammed By Lower Prices
U.S. Oil Outlook Slammed By Lower Prices The recent slide in oil prices may finally start impacting U.S. oil production forecasts. The plunge in oil prices in November and December spread gloom around the industry. Comments from anonymous oil executives in a survey from the Federal Reserve Bank of Dallas from earlier this month clearly […]
Oil Markets Could See Deficit In 2019
Oil Markets Could See Deficit In 2019 The oil supply surplus is “starting to reverse,” according to a new report from Bank of America Merrill Lynch. The investment bank noted that oil prices had collapsed in late 2018 not only because of an oversupply problem, but also because of other “non-fundamental factors,” including the selloff […]
Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World
Protests Erupt As Zimbabwe Now Has The Most Expensive Gasoline In The World Zimbabwe is once again at the brink of economic collapse, making a mockery of President Emmerson Mnangagwa’s claim that the country is open for business. As Bloomberg reports, many shops and factories have shut their doors because of a lack of customers […]
The Overlooked Catalyst That Will Send Energy Demand Soaring
The Overlooked Catalyst That Will Send Energy Demand Soaring As the earth gets hotter, energy demand will increase significantly along with global temperatures. Now a team of researchers in China has determined in a recent study that by the end of this century, peak energy demand in China will increase by a minimum of 72 […]
There’s No Sugarcoating Canada’s Oil Crisis
There’s No Sugarcoating Canada’s Oil Crisis Has financial disaster been averted in Canada’s oil and gas industry? ‘Disaster’ is all relative. Let’s just say 2019 is going to be a difficult year following a tough set of recent circumstances. One thing we know is that the recent episode of bargain-basement commodity prices—triggered by a regional […]
Canada’s Crude Oil Production Cuts Are Unsustainable
Canada’s Crude Oil Production Cuts Are Unsustainable In an attempt to combat a ballooning oil glut and dramatically plummeting prices, the premier of Alberta Rachel Notley introduced an unprecedented measure at the beginning of December when she is mandating that oil companies in her province cut production. This directive was particularly surprising in the context […]
Another Crucial Canadian Pipeline Runs Into Trouble
Another Crucial Canadian Pipeline Runs Into Trouble Late last year, Royal Dutch Shell gave the greenlight to a massive LNG export terminal on Canada’s Pacific Coast, one of the largest investments in LNG in years. But like other fossil fuel projects in Canada, the plans have run into some trouble. Shell’s LNG Canada project hinges […]
Darkening Outlook For Global Economy Threatens Crude
Darkening Outlook For Global Economy Threatens Crude “The outlook for the global economy in 2019 has darkened.” That conclusion came from a new report from the World Bank, citing a variety of data, including softening international trade and investment, ongoing trade tensions, and financial turmoil in emerging markets over the past year. “Storm clouds are […]
Evidence Mounts For Shale Slowdown
Evidence Mounts For Shale Slowdown There is a growing pile of evidence pointing to a slowdown in the U.S. shale industry, as low prices take their toll. The rate of hydraulic fracturing began to decline in the last four months of 2018, a sign that U.S. shale activity began to slow even before the plunge […]
New Data Suggests Shocking Shale Slowdown
New Data Suggests Shocking Shale Slowdown U.S. shale executives often boast of low breakeven prices, reassuring investors of their ability to operate at a high level even when oil prices fall. But new data suggests that the industry slowed dramatically in the fourth quarter of 2018 in response to the plunge in oil prices. A […]
Canada’s Natural Gas Crisis Is Being Ignored
Canada’s Natural Gas Crisis Is Being Ignored “Alberta and its natural gas producers face a daunting crisis,” Alberta’s Natural Gas Advisory Panel said in a report in December, highlighting the challenges that natural gas producers in Alberta face in market access and pricing for their commodity. Industry officials and analysts say that the situation with […]
Why Oil Prices Rose And Crashed In 2018
Why Oil Prices Rose And Crashed In 2018 Last week the price of West Texas Intermediate (WTI) crude oil, the primary U.S. benchmark, fell to a 17-month low. The price, $45.88/bbl, marks a stunning fall from a price that closed at $76.40/bbl on October 3rd. So, what has caused this roller coaster ride, and where are prices […]
The Mediterranean Pipeline Wars Are Heating Up
The Mediterranean Pipeline Wars Are Heating Up Things have been quite active in the Eastern Mediterranean lately, with Israel, Cyprus and Greece pushing forward for the realization of the EastMed pipeline, a new gas conduit destined to diversify Europe’s natural gas sources and find a long-term reliable market outlet for all the recent Mediterranean gas […]
Falling Oil Prices May Spark New Debt Crisis
Falling Oil Prices May Spark New Debt Crisis U.S. oil prices at below $50 and now even below $45 a barrel could cause concerns about the debt levels of some energy companies, Nasdaq energy analyst Tamar Essner told CNBC on Wednesday. “Credit markets have held up a lot better than the energy equity markets right […]
Mnuchin’s Bizarre Statement Rattles Markets
Mnuchin’s Bizarre Statement Rattles Markets If he thought it would inspire confidence in the markets, his bizarre announcement did just the opposite. Over the weekend, U.S. Treasury Secretary Steven Mnuchin issued a statement saying that he “conducted a series of calls today with the CEOS of the nations six largest banks,” which included Bank of […]
