U.S. Shale Could Bring Bearishness Back To Markets
Brent oil has breached the technical and psychological barrier of $60, while WTI inched up to $54. The bulls are relishing in the excitement of rising prices. But there’s one Continue Reading
Trump to Auction Off Swaths of Gulf of Mexico to Oil Companies
The Trump administration made history Tuesday in proposing that nearly 77 million acres in the Gulf of Mexico be made available for companies wanting to purchase federal oil and gas Continue Reading
U.S. Resources Set For Record Breaking Resurgence
The highest-profile happening was a new offshore petroleum lease sale — announced last Tuesday by the Department of Interior. It will make available the largest swath of drilling acreage ever Continue Reading
The Return Of Deepwater Oil
In a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in Continue Reading
U.S. Crude Imports Soar Amid Rising Refinery Output
I’ve been on the road – on walkabout as the Australians would say – for the last four weeks, doing a number of speaking engagements and trips across America. As Continue Reading
World Crude Oil Supplies per July 2017
In this post I present developments in world crude oil (including condensates) supplies since January 2007 and per July 2017. In this post the world crude oil (inclusive condensates) supplies Continue Reading
US oil floated on cheap money
How much has the US oil industry been inflated, crushed and generally distorted by the Federal Reserve’s monetary force-feeding over the past nine years? According to my probing along the Continue Reading
Oil price rally tested by shale expectations
After strong gains in previous sessions, crude oil prices retreated Wednesday on analyst expectations they had brushed up against a market ceiling. “Synchronized global growth, robust demand for oil, high Continue Reading
How oil is escaping from ‘purgatory’ as supply glut turns to supply concern
For more than three years the oil market has been strangled by a persistent supply glut, but next year there’s the opposite issue to be concerned about: an outright supply Continue Reading
Crude stocks rise, fuel inventories drop: EIA
U.S. crude stocks rose last week, but gasoline and distillate inventories fell much more than anticipated, Energy Information Administration data showed on Wednesday. Crude inventories rose by 856,000 barrels in Continue Reading