Archive for the ‘Oil Prices’ Category
New market variables
January 7th, 2019 by Latest News
Upheaval in the Middle East confounds forecasts of energy markets, such as Oil & Gas Journal’s annual Forecast & Review (p. 18). The political nature of that upheaval is well-documented and important. Less reported but no less important is its economic…
Whales and seismic
January 7th, 2019 by Latest News
Let’s begin 2019 with two stipulations: First, whales are majestic, intelligent creatures that deserve to be studied and protected. Second, they should not be used as tools to suppress knowledge and information. This belittles and insults the first sti…
Alberta to cut oil output by 325,000 b/d
December 10th, 2018 by Latest News
Saying it is responding “to the historically high oil price differential that is costing the [Canadian] economy more than $80 million/day,” the Alberta government on Dec. 2 announced a curtailment in oil production beginning Jan. 1.
Efforts to control
December 10th, 2018 by Latest News
As US President Donald Trump pressed Saudi Arabia, before last week’s meeting of the Organization of Petroleum Exporting Countries, to keep oil production high and prices low, the government of Alberta moved the opposite way. At this writing, OPEC had …
Global oil supply will outpace demand throughout 2019, the International Energy Agency forecasted in its latest Oil Market Report.
US crude oil production reached 11.3 million b/d in August and was 290,000 b/d higher than expected, according to the US Energy Information Administration’s latest Short-Term Energy Outlook.
Chevron Corp. reported third-quarter earnings of $4 billion compared with $2 billion earned in third-quarter 2017. Included in the current quarter were a write-off, an asset impairment, and a nonrecurring contractual settlement totaling $930 million in…
On Nov. 5, the US government imposed oil and other sanctions against Iran that were lifted under a 2015 multinational nuclear arms control agreement, the Trump administration announced.
Deloitte: Downstream, chemicals are ‘bright spots’ in industry outlook
November 5th, 2018 by Latest News
A majority of oil, natural gas, and chemicals executives are confident in the industry’s continued recovery and expect the price of West Texas Intermediate crude to average $70/bbl or more in 2020, according to a recently released survey conducted by D…
Imagine an oil market with one quarter of total supply controlled by two countries hostile to the West.