Hedge funds abandon all hope in OPEC: Kemp
“All hope abandon, ye who enter here,” is the warning inscribed above the gate of Hell, according to the Italian poet Dante Aligheri (“The Divine Comedy”, Inferno, Canto III, 1308-1320). Continue Reading
Has the oil market reached ‘peak bear’?
Investor bets against the oil price are piling up at breakneck speed, the market is still buckling under the weight of excess supply for a third year in a row, Continue Reading
Carbon in Atmosphere Is Rising, Even as Emissions Stabilize
On the best days, the wind howling across this rugged promontory has not touched land for thousands of miles, and the arriving air seems as if it should be the Continue Reading
Great recession fears as bankers warn next global crash could arrive ‘with a vengeance’
Central bankers have voiced fears about the Chinese economy as corporate debt rises faster than GDP A new financial crisis is brewing in the emerging economies and it could hit Continue Reading
Oil Prices Inch Higher As Saudi Crude Oil Loadings Drop
We discussed back in early May how Saudi Arabian crude export loadings in April had dropped materially. Given the journey time to US shores (hark, seven-ish weeks), the expectation was Continue Reading
Iran’s Largest Oil Terminal Boosts Capacity To 8 Million Bpd
The Kharg oil terminal in Iran has increased its crude oil loading capacity to 8 million barrels per day (bdp), three times the current Iranian crude and condensate exports, the Continue Reading
Middle East At Point Of No Return As Saudi-Qatar Rift Deepens
Saudi King Salman’s decision to appoint his son Mohammed Bin Salman (MBS) as the new crown prince did not come as a surprise. For months, the power struggle between former Continue Reading
Kurdistan Targets Saudi Market Share In The U.S.
Kurdish oil is headed for the United States this week, further buttressing the semiautonomous region’s economic independence as Erbil prepares for a referendum on political independence later this year. An Continue Reading
China’s new high-speed train debuts on Beijing-Shanghai route
China’s next generation bullet train “Fuxing” debuted on the Beijing-Shanghai line on Monday. A CR400AF model departed Beijing South Railway Station at 11:05 a.m. for Shanghai. At the same time, Continue Reading
Welcome to the Booming Texas Port at Heart of U.S. Oil Sales
Dredging to boost export capacity to 3 million barrels a day New pipelines set to increase supply moving out of South Texas Late last month, an oil tanker that measures Continue Reading
In disaster’s wake, BP doubles down on deepwater despite surging shale
About 300 BP workers commute 150 miles here by helicopter, from the Louisiana coast to a deep-sea drilling platform that can produce more oil in a day than a West Continue Reading
Asserting ‘dominance,’ Trump seeks boost for U.S. energy exports
President Donald Trump gives a thumbs up as he walks up the West Wing colonnade to greet India’s Prime Minister Narendra Modi as Modi arrives for a visit in Washington. Continue Reading
Clogged oil arteries slow U.S. shale rush to record output
A gallon of gasoline that allows a driver on the U.S. East Coast to travel about 25 miles has already navigated thousands of miles from an oil field to one Continue Reading
General Motors Lowers Outlook for Industry Vehicle Sales
General Motors Co. expects industry vehicle sales to fall short of its original forecast for the year, the latest sign of a slowdown in the U.S. auto market after a Continue Reading
The Eagle Ford Rebound Needs $48 Oil
The oil price crash that started in 2014 has affected not only corporate profits and drilling plans. It has had a huge economic impact on the areas around the U.S. Continue Reading
Statoil Economist Predicts $60 Oil “Relatively Soon”
According to Waerness , $60 barrel is unlikely to happen as soon as tomorrow, but the goal will be met sooner, rather than later, on a 2050 timeline. A series Continue Reading
Norway could get economic lift from northern oil field
Norwegian energy company Statoil said Monday it expected some economic spillovers would come from support centers for its Johan Castberg field. The company said the northern port city of Hammerfest, Continue Reading
13 Of 28 EU Nations Support Intervention In Nord Stream 2 Deal
The European Union should negotiate the terms of the North Stream 2 pipeline, which would double the existing pipeline’s capacity to bring Russian gas to Europe, according to 13 of Continue Reading
How the gas industry can help fight climate change in Siberia
Permafrost is the layer of permanently frozen earth – over 3,000 feet thick in some places – that lies just beneath the land surface in Arctic regions. It formed over Continue Reading
Oil climbs on weaker dollar, but rise in U.S. drilling drags
Oil prices rose early on Monday on a weaker dollar, but increased U.S. drilling activity stoked worries that a global supply glut would persist despite efforts by some producers to Continue Reading
Goldman Sachs: Oil Crash Unlikely To Continue
The current selloff in energy stocks is but an opportunity for buyers, according to a Thursday note from Goldman Sachs’ European energy team, who added that current prices are likely Continue Reading
Oil Industry To Waste Trillions As Peak Demand Looms
A new report from The Carbon Tracker Initiative analyzed what would happen if the oil market saw demand peak by 2025, a scenario that would be compatible with limiting global Continue Reading
The World Is Millions Of Barrels Away From Peak Oil
The notion that demand for crude oil will soon peak has largely replaced the idea from a decade ago that crude oil production was about to peak for geological reasons. Continue Reading
OPEC Looks Totally Bewildered by the Oil Market
Julian Lee is an oil strategist for Bloomberg First Word. Previously he worked as a senior analyst at the Centre for Global Energy Studies. It may be too soon to Continue Reading
Continuing Arab Gulf Spat Could Weigh On Oil Prices…Again
While oil markets were battered again this week over persisting oversupply concerns, the diplomatic crisis in the Middle East continued to brew, peaking when the Arab states boycotting Qatar issued Continue Reading
Crisis-Stricken Venezuela Looks To Import Fuel
Venezuela is seeking more than 13 million barrels of fuel imports by the end of the year, which constitutes about a third of what the South American nation needs annually. Continue Reading
Clogged oil arteries slow U.S. shale rush to record output
A pumping station owned by Tallgrass Energy is pictured in Guernsey, Wyoming, U.S. on January 17, 2017. Picture taken on January 17, 2017. REUTERS/David Gaffen A gallon of gasoline that Continue Reading
Trump to Call for U.S. ‘Dominance’ in Global Energy Production
President to flag historic shift as U.S. becomes net exporter Renewables and nuclear power technology also set to gain Donald Trump will tout surging U.S. exports of oil and natural Continue Reading
How Earthquakes Are Rattling a Dutch Province Atop One of the World’s Richest Gas Troves
For decades, the giant Groningen gas field beneath the flat, green farmland in the north of this country counted among the greatest prizes for Exxon Mobil Corp. and Royal Dutch Continue Reading
Oil edges up, but set for worst first-half performance in 20 years
Oil edged up on Friday, recovering slightly from steep falls earlier in the week, but is set for the worst performing first-half in two decades despite ongoing production cuts. Brent Continue Reading
Expert Commentary: Is An Oil Comeback On The Cards?
– 2Q’17 wasn’t supposed to go like this! Heading into the spring the broad consensus in the oil market was that aggressive global inventory draws would move WTI into the Continue Reading
Baghdad may ramp up legal challenge to Kurdish crude exports
Prime Minister Abadi orders lawyers to block any attempt by the autonomous Kurdistan region to ship oil to the United States following reports that a tanker bearing KRG crude is Continue Reading
Market weighs ‘massive purchase’ of products by Venezuela’s PDVSA
Venezuela’s PDVSA has issued a flurry of new tenders for oil products in the last few days and although the volume being sought at the same time is unprecedented, market Continue Reading
Cheaper gasoline should give limited boost to U.S. fuel consumption: Kemp
Cheaper gasoline prices should spur an increase in driving in the United States and provide a limited boost for gasoline consumption over the summer, after a slow start to the Continue Reading
API: U.S. crude oil imports up 1.9 percent from last year
Despite a recent reversal, crude oil imports into the United States are up 1.9 percent year-to-date from last year, the American Petroleum Institute reported. API published monthly data from May Continue Reading
Big Oil turns to big data to save big money on drilling
In today’s U.S. shale fields, tiny sensors attached to production gear harvest data on everything from pumping pressure to the heat and rotational speed of drill bits boring into the Continue Reading
US Oil Rig Count Rises For 23rd Week In A Row
The number of active oil and gas rigs in the United States rose again this week by 8—marking 23 weeks of gains and continuing to press upon battered markets who Continue Reading
Nigeria: Neiti – Over U.S.$21.8 Billion Unaccounted for By NNPC
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the Nigeria National Petroleum Corporation (NNPC) is supposed to remit over $21.8 billion billions to the Federation Account. The agency’s Continue Reading
Rosneft aims to export Egyptian natural gas
Russian energy company Rosneft is expected to start exporting natural gas from an Egyptian field considered to be among the world’s largest. Eni made its initial gas discovery in the Continue Reading
Using Energy to Extract Energy – the Dynamics of Depletion
The “Limits to Growth Study” of 1972 was deeply controversial and criticised by many economists. Over 40 years later, it seems remarkably prophetic and on track in its predictions. The Continue Reading
Oil Companies’ Proved Reserves in 2016 Decline for Second Consecutive Year
Rest of world includes associated companies’ reserves with unspecified geographies. Annual reports of 67 publicly traded oil companies indicated that their aggregate proved liquids reserves declined in 2016 for the Continue Reading
Finally, a Biofuel to Get Excited About
Most biofuels news is bad—our current national program incentivizes the production and consumption of corn-based ethanol that somehow manages to increase food prices, increase gas prices, hurt American refineries, and Continue Reading
Oil Prices Come Off Recent Lows
Oil prices edged up Thursday but remained in bear-market territory on lingering concerns about a global supply glut. Light, sweet crude for August delivery settled up 21 cents, or 0.5%, Continue Reading
Traders test OPEC ‘whatever it takes’ resolve to defend oil price
When OPEC leader Saudi Arabia pledged in May to do “whatever it takes” to defend world oil prices, it didn’t expect the market to be testing its resolve just one Continue Reading
Oil prices climb off 10-month lows as U.S. stockpiles drop
Oil prices rose on Thursday after U.S. crude and gasoline stockpiles fell, but worries over whether OPEC-led output cuts would be able to rein in a three-year glut continued to Continue Reading
Oil market flashes warning about stock levels in 2018: Kemp
Oil traders have become increasingly doubtful that OPEC will manage to cut crude stocks down to the five-year average in 2018 and keep them there. Calendar spreads for Brent futures Continue Reading
Wednesday Is Fast Becoming Oil’s Least Favorite Day of the Week
Focus on weekly EIA report highlights oversupply concerns Losses on WTI average 3.2% over the past four Wednesdays Every Wednesday, WTI gets whacked. With investors focused on the question of Continue Reading
OPEC Has Few Escape Routes From Another Bear Market in Oil
Deeper cuts weren’t seriously discussed this week: delegates Resurgent Libyan, Nigerian production presents new challenge Oil’s back in a bear market and investors remain unmoved by last month’s agreement to Continue Reading
Kuwaiti official says OPEC-led production cuts not working
A multilateral effort to ease global oil supply-side strains on the market hasn’t worked as designed, a Kuwaiti official said Thursday. Photo by Oskari Porkka/Shutterstock June 22 (UPI) — The Continue Reading
House of Saud unites behind king’s son – for now
The elevation of Mohammed bin Salman as Crown Prince of Saudi Arabia has ended two years of speculation about a behind-the-scenes rivalry near the pinnacle of royal power, but he Continue Reading