As The U.S. Rig Count Continues To Plunge, Output Follows Suit
Baker Hughes published the latest oil rig count today—and although not surprising, the news that the oil rig count fell for the eighth straight week in a row is not Continue Reading
Brutus platform crude oil leak sees Shell shut-in US Gulf wells; Mars, Poseidon firm
Shell shut-in production from all wells connected to its Brutus platform in the US Gulf of Mexico Thursday after a leak was detected, leaving a two-mile by 13-mile sheen on Continue Reading
Why Pipelines Still Rule
When assessing U.S. oil production declines and what it means for midstream companies many times we are asked, “What happens to crude oil pipeline volumes if production declines as the Continue Reading
Crude soothsayers should recall cautionary tale of ‘Peak Oil’
This week at the annual conference in Montreal of the CFA Institute, a professional body for investors, there were some grand narratives about the future of oil. They should be Continue Reading
Oil Trims Weekly Gain as Surplus Persists Despite Supply Losses
Oil pared its weekly advance as investors weigh supply reductions from the U.S. to Nigeria against the return of some output from Canadian producers after wildfires eased. Futures slid as Continue Reading
Oil prices fall on stronger dollar; Russia warns of longer crude glut
Oil prices dipped in early trading on Friday as a stronger dollar weighed and Russia warned that a global crude supply overhang could last into next year. The dollar has Continue Reading
Oil Prices Up After IEA Report
Oil prices edged up Thursday after a top energy monitor said that the global market is near balance. The International Energy Agency said that global oil stocks will experience a Continue Reading
Oil prices fall as Canada oil sand fields gradually return
Oil prices fell on Thursday, dragged down by the gradual return of Canadian oil sands output, reversing a sharp rise the previous day when the U.S. government detailed an unexpected Continue Reading
Global Oil Glut to Shrink Despite Iranian Output Surge, IEA Says
A unit of South Pars Gas field in Asalouyeh Seaport, Iran. The Islamic Republic lifted… Iran’s oil production has risen faster than expected, reaching levels not seen since before Western Continue Reading
Global oil and gas job losses: 350,000 and counting
A total of 351,410 jobs have been slashed by oil and gas production companies worldwide, with the oilfield services sector bearing much of this burden, according to a new report Continue Reading