U.S. oil producers may soon have access to federal oil storage space to alleviate the glut that is threatening to overwhelm existing private storage capacity. Bloomberg reports , quoting three Continue Reading
Scott Sheffield of Pioneer Natural Resources blamed ExxonMobil for blocking help from the American government for the U.S. shale industry. Exxon’s refusal, Sheffield says, is because the oil major wants Continue Reading
Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Continue Reading
Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come. Daily consumption will plummet by 15 million to 22 million Continue Reading
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices. Trump, speaking at the White House Tuesday, Continue Reading
The OVX index measures implied volatility of oil prices and is calculated by using movements in the prices of financial options for WTI. – The OVX reached 190 on March Continue Reading
The United States may lose its top spot among oil producers globally this year, according to economists. With oil prices continuing their slide and Saudi Arabia reiterating its plans to Continue Reading
It’s no secret that the growth of U.S. shale oil has been a thorn in the sides of both Saudi Arabia and Russia. They have seen their market shares erode Continue Reading
Earlier this month global oil prices fell more sharply in one day than they have in nearly 30 years. The cause was a snowball effect driven by a series of Continue Reading
The oil-bears continue their romp across the energy markets with various grades of crude reaching lows not seen in almost twenty years. There will come a point where I can Continue Reading
