6 predictions for 2016
1) The showdown on oil prices between Saudi Arabia and the US will intensify, and the Saudis will eventually break . It looks like oil and gas prices are going Continue Reading
Short-Term Energy Outlook
This edition of the Short-Term Energy Outlook is the first to include forecasts for 2017. North Sea Brent crude oil prices averaged $38/barrel (b) in December, a $6/b decrease from Continue Reading
U.S. sees no relief from swelling oil glut until late 2017
The global oil glut will swell until late 2017, the U.S. government forecast on Tuesday in an outlook that offered little hope of near-term relief for energy producers reeling from Continue Reading
Texas drilling permits lower by about half
A Texas state energy regulator said about half as many original drilling permits were issued for December than for the same month in 2014. Crude oil prices, down about 70 Continue Reading
Halliburton-Baker Hughes Merger Under EU Antitrust Review
Halliburton equipment at an Alvarado, Texas, equipment yard in June 2015. The merger, which would unite the second and third largest oil-field services suppliers, already faces a growing list of Continue Reading
International Rig Counts Still Falling
The monthly Baker Hughes International Rig Count came out a few days ago. Baker Hughes international rig counts do not include US, Canada, FSU countries or on shore China. All Continue Reading
Meet Manifa (And Other Giant Oil Projects) That Will Add To The Global Oil Glut
World oil consumption is more than 90 million barrels a day. Between 2009 and 2014 oil was traded for about 110 dollars a barrel; now oil is changing hands for Continue Reading
U.S. shale output to fall 116,000 bpd month-on-month in Feb, same as Jan
U.S. shale oil production is expected to fall for a seventh month in a row in February, declining at about the same rate as the month before as drillers manage Continue Reading
Oil trains sidelined by deepening slump in US shale
The amount of oil hauled on US railways has declined steeply in the past year as refineries swallow more foreign supplies in the face of falling domestic crude output. Tank Continue Reading
Oil Plunge Sparks Bankruptcy Concerns
Crude-oil prices plunged more than 5% on Monday to trade near $30 a barrel, making the specter of bankruptcy ever more likely for a significant chunk of the U.S. oil Continue Reading