U.S. Shale Faces A Workforce Shortage
A problem for the U.S. shale oil and gas industry that analysts and observers have warned about for a long time has materialized: there is a shortage of workers. According Continue Reading
Russian oil major says U.S. shale growth imperils OPEC deal
A recovery in U.S. oil output may deter OPEC and non-OPEC producers from extending production cuts beyond June and might lead to a new price war, Russia’s top oil major Continue Reading
Oil Steadies Below $49 as U.S. Drilling Threatens Longer Glut
Oil steadied below $49 a barrel as U.S. drillers continued to boost activity, countering OPEC’s efforts to drain a global glut. Futures were little changed in New York after falling Continue Reading
Oil prices hit three-month low as U.S. rig count climbs
Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude LCOc1 had Continue Reading
Race to Bottom on Costs May Cause Oil to Choke on Supplies
Houston hosted two events this week: the nation’s largest energy conference and the town’s famous rodeo. They have more in common than you’d think. In both cases, the key for Continue Reading
Saudi Arabia Won’t Let Oil Head Back To $20s Again
Saudi Arabia and American frackers are gearing up for the second oil war. It will take oil lower, but not back to $20 again. Saudi Arabia has kept its promise. Continue Reading
Trillion-dollar question looms as Aramco audits oil reserves
Listed reserves haven’t changed in nearly 30 years * Falih says reserves could be bigger than those already booked * Disclosures likely to resemble those of BP and Shell * Continue Reading
Saudi Arabia and the war on shale oil that never ended
Last week when Saudi Arabia let it leak that the kingdom has no intention of leading OPEC toward another cut in production to accommodate the growing volumes of oil from Continue Reading
Libya Crude Oil Output Said to Fall 11% on Field, Port Closings
Libya’s crude output dropped 11 percent as clashes among rival armed groups over the last 10 days led to the closing of some of the OPEC nation’s biggest oil export Continue Reading
Libyan Oil May Be Slipping Out Of Putin’s Reach
Last Friday, news broke that the Benghazi Defense Brigades seized control of two major Libyan ports on the “Oil Crescent,” posing a real challenge to Khalifa Haftar and Russia’s grip Continue Reading