U.S. oil industry set to break record, upend global trade
Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day – toppling a record set in 1970 and crossing a threshold few Continue Reading
Worries about US shale output as oil hits three-year high
Brent crude rose to a three-year high of $70 a barrel last week, but there are questions about the rally’s resilience as higher oil prices threaten to unleash a new Continue Reading
Could An Oil Surplus Be A Sign Of Things To Come?
Gail Tverberg is a writer and speaker about energy issues. She is especially known for her work with financial issues associated with peak oil. Prior… Today, we have a surplus Continue Reading
IEA: $65-70 Oil Could Cause Surge In U.S. Shale Production
Oil producers may be enjoying oil prices at $65 to $70, but these price levels are likely to encourage even more oversupply from U.S. shale, Fatih Birol, the Executive Director Continue Reading
U.S. drillers add most oil rigs in a week since June: Baker Hughes
U.S. energy companies added 10 oil rigs this week, the biggest increase since June, as crude prices rose to their highest levels in three years, prompting drillers to return to Continue Reading
Oil drillers in Canada boost rigs to 10-month high: Baker Hughes
Energy firms in Canada almost doubled the number of rigs drilling for oil this week to the highest level in 10 months as producers returned en masse from Christmas breaks Continue Reading
EIA forecasts mostly flat crude oil prices and increasing global production through 2019
U.S. Energy Information Administration, Short-Term Energy Outlook, January 2018 EIA’s January Short-Term Energy Outlook forecasts Brent crude oil to average $60 per barrel (b) in 2018 and $61/b in 2019, Continue Reading
Shale Restraint Could Lift Oil To $80
Brent recently hit $70 per barrel and WTI surpassed $64.50 , and oil executives from the Middle East to Texas no doubt popped some champagne. The big question is whether Continue Reading
Will Surging U.S. Shale Kill Off The Oil Rally?
The EIA released the latest version of its Short-Term Energy Outlook (STEO), in which the agency dramatically revised up its expectations for U.S. oil output. Previously, the EIA thought the Continue Reading
So what exactly are the offshore drilling plans, Florida senator asks
A Florida senator at the center of the debate over offshore drilling under the Trump administration said the Interior Department’s latest plans lack clarity. “The public has a right to Continue Reading