A backlog of oil wells that have been sitting idle could put renewed pressure on oil prices once the oil starts flowing. Oil prices dipped just below $50 per barrel Continue Reading
Oilfield services Clouds have been clearing for oil producers in the U.S. oil patch, but it looks like things are a bit different in oil field services. In fact, they’re Continue Reading
Source: U.S. Energy Information Administration, based on Rystad Energy Global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30% of total global Continue Reading
The Peak Oil argument refuses to die. Today it has morphed into the Peak Conventional Oil argument. There are parts of the argument I agree with such as any finite Continue Reading
Oil consumption will stand at 87 million barrels per day by 2035, or 7 percent less than the current figures in the baseline scenario, according to the study conducted by Continue Reading
Global oil demand will rise by 1.2 million barrels per day (bpd) in 2017, steady from 2016 global demand growth levels, despite gains in Chinese consumption, the chief of the Continue Reading
US oil and gas drillers are reporting the biggest and most sustained upturn since oil prices began slumping in the middle of 2014. (John Kemp is a Reuters’ market analyst. Continue Reading
This week’s oil prices put the industry at a value of $1.7 trillion – almost three times larger than the $660 billion in revenues generated from all major raw metals Continue Reading
The top shale basins in the U.S. could lose another 30,000 barrels per day in November, as a shortage of drilling fails to offset natural depletion. However, the decline is Continue Reading
Their owners may be bankrupt, but the sprawling mines of Wyoming’s Powder River Basin are still churning out coal. It is the same story in oil fields along the Gulf Continue Reading
