Plenty of Cash Lies Buried on Canada’s Oil Sands
Earlier this month, Marathon Oil agreed to spend more than $1 billion on acreage in the Permian Basin, the very hottest place on the planet to drill for oil. On Continue Reading
Despite growth late in the year, U.S. crude oil production decreased in 2016
Despite increasing crude oil prices throughout most of 2016, total U.S. crude oil production in 2016 was below its 2015 level . However, monthly production began growing in the fourth Continue Reading
Peak oil? Sooner than you think
For some time, there has been speculation about when global oil demand may peak – not because we will run out of oil or prices will spike making oil unaffordable, Continue Reading
Shell Goes on a Deep-Water Drilling Diet
Shell, the world’s second-largest publicly traded energy company, is making a high-stakes bet that it can take highly efficient technology and processes perfected onshore and deploy it in deep-sea production. It hopes Continue Reading
Halfway into 2017’s oil supply cut, Asia remains awash with fuel
Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group’s efforts to rein in a global glut have so far had little Continue Reading
Citi Tells Investors to Stop Worrying and Learn to Love Oil
Buy oil now, and count on Saudi Arabia for support, according to Citigroup Inc. OPEC’s output cuts aimed at easing a global glut are “real” and is cleaning up the Continue Reading
Has OPEC Underestimated U.S. Shale Once Again?
The U.S. shale cowboys are back on their horses and leading a strong recovery in the oil patch that is not expected to falter even as WTI prices dropped last Continue Reading
What Really Caused The EIA Oil Draw?
Crude prices are rebounding today, bouncing off the trampoline of price support at $48 for WTI and $50 for Brent. A surprise draw to U.S. crude inventories ( not to Continue Reading
U.S. oil stockpile decline reverses nine weeks of builds: EIA
U.S. crude stocks fell last week as imports plummeted, dropping after nine consecutive increases, while gasoline and distillate inventories declined more than expected, the Energy Information Administration said on Wednesday. Continue Reading
Global oil stocks rise, but IEA says OPEC curbs may create H1 deficit
Global oil inventories rose for the first time in six months in January, despite OPEC’s production cuts, but if the group maintains its output limits, the market may tilt into Continue Reading