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Saudi Officials Worried About Oil’s Future
Saudi Officials Worried About Oil’s Future Saudi government officials like talking to the media about oil. They invariably come across as upbeat, confident that the OPEC deal will achieve its goal of shrinking the global oversupply, and equally confident that U.S. shale will not seriously eat away at their oil revenues, however fast it grows. […]
Oil Prices Fall As EIA Confirms Inventory Build
Oil Prices Fall As EIA Confirms Inventory Build After a surprise 5.32-million-barrel inventory build reported by the American Petroleum Institute (API) weighed on oil prices yesterday, the Energy Information Administration (EIA) is reportinga build of 1.6 million barrels for the week ending March 23. The markets, which have not had a chance to react to […]
2018: A Breakout Year For Clean Energy
2018: A Breakout Year For Clean Energy The bullish momentum for global clean energy investment, which rose 3 percent to $333.5 billion in 2017, will continue this year. There was significant progress in the transition to cleaner energy in 2017, and 2018 should see more of the same. New solar installations will top 100 GW […]
Worst Hurricane Season In A Decade Threatens Gulf Coast Production
Worst Hurricane Season In A Decade Threatens Gulf Coast Production 2017 could be an “above-normal” year for large hurricanes, according to the National Oceanic and Atmospheric Administration (NOAA), a potential problem for Gulf Coast oil drillers and refiners. NOAA puts the odds of an “above-normal” season for hurricanes at 45 percent, while the chances of […]
Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020
Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020 As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the […]
Shale Hotspot Draws In Another Big Oil Player
Shale Hotspot Draws In Another Big Oil Player The oil price crash that destroyed a lot of smaller oil producers has not spared the finances of even the oldest and largest oil companies. Trying to keep the precious dividends intact and growing, Big Oil is focusing on cost control and cash preservation, and has effectively […]
Venezuela In Dire Straits As Oil Production Falls Further
Venezuela In Dire Straits As Oil Production Falls Further Venezuela’s economic crisis continues to deepen. The South American OPEC member is thought to be sitting on nearly 300 billion barrels of oil, far more than any other country in the world, including Saudi Arabia (estimated at 268 billion barrels). But the economy has been in freefall for […]
Norway Doubles Down On Arctic Oil
Norway Doubles Down On Arctic Oil While Canada and the U.S. ban Arctic drilling for oil and gas motivated by environmental concerns, and majors such as Shell pull out of their Arctic projects due to financial pressures, Norwegian energy companies are planning to increase drilling in the country’s Arctic shelf in the Barents Sea. It […]
OPEC Production Cut May Need to Be Extended: Oil Ministers
OPEC Production Cut May Need to Be Extended: Oil Ministers The oil ministers of Iran and Qatar have suggested that OPEC’s production cut agreement may have to be extended beyond the June deadline, despite an almost 100-percent compliance rate. The comments come a day after the American Petroleum Institute reported the second-largest crude oil inventory increase in history, at […]
The Oil War Is Only Just Getting Started
The Oil War Is Only Just Getting Started It’s been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how U.S. shale is responding to fifty-plus-dollar oil with rebounding drilling activity. Those two main factors are largely neutralizing […]
Can U.S. Shale Add 1 Million Bpd In 2017?
Can U.S. Shale Add 1 Million Bpd In 2017? Oil prices are up on expectations that OPEC will contribute to a faster balancing in 2017, with up to 1.8 million barrels per day in cuts along with some non-OPEC countries. That has put a floor beneath prices, with fears of another downturn largely dissolved after […]
Trump’s Oil Price Dilemma
Trump’s Oil Price Dilemma President-elect Donald Trump has started naming his picks for key administration offices, and it looks like he is beginning to assemble a team to deliver on at least part of his campaign promises of An America First Energy Plan. Trump’s agenda includes lifting restrictions and opening onshore and offshore leasing on federal […]
Huge Decline In U.S. Proved Oil And Gas Reserves
Huge Decline In U.S. Proved Oil And Gas Reserves Proved oil and gas reserves down 11.8 percent and 16.6 percent, respectively, from year-end 2014 EIA has downgraded its estimates of proved oil and gas reserves in the U.S., according to its Crude Oil and Natural Gas Proved Reserves, Year-end 2015 report, released today. Proved reserves of […]
Why Are Bankrupt Oil Companies Still Pumping?
Why Are Bankrupt Oil Companies Still Pumping? A central tenet in the thesis by analysts about the oil markets rebalancing has been that as prices declined, oil companies would be forced into bankruptcy. That in turn would lead to declining production, and eventually a rebalancing of supply and demand in the market, followed by higher […]
