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Breaking News:

Oil Prices Gain 2% on Tightening Supply

Energy

Rig Count Climbs Higher After Last Week’s Intermission

Jul 07, 2017 at 12:25 | Julianne Geiger

The number of active oil and gas rigs in the United States rose again this week, this time by 12, resuming what was the US shale patch’s impressive run…

Oil Prices Tank As OPEC Exports Surge

Jul 07, 2017 at 11:21 | Matt Smith

Six months after the implementation of the OPEC production cut deal to reduce output by 1.2 million barrels per day, and we should be well on our way towards rebalancing…

Russia Now Ready To Consider More Oil Output Cuts If Needed

Jul 07, 2017 at 09:22 | Tsvetana Paraskova

Just a day after Russia’s Energy Minister Alexander Novak said that the OPEC/non-OPEC production cut pact was working and that there was no need to make immediate additional moves, an…

Are Hedge Funds Falling Into An Oil Market Bear Trap?

Jul 06, 2017 at 16:22 | Tsvetana Paraskova

Oil prices have had a bumpy ride over the past month. On June 21, they hit a ten-month low amid concerns over rising supply from the U.S., Libya, and…

Don’t Count On Seasonality To Boost Oil Prices

Jul 06, 2017 at 15:27 | Brian Noble

Seasonality is a concept well understood by the capital markets. Take adages such as “Sell in May and go away,” which reputedly has its origin in the North American mining…

U.S. Shale Gas Booming Despite Global Glut

Jul 06, 2017 at 15:21 | Haley Zaremba

The United States has led the pack in the shale revolution, profiting more than any other nation. The U.S. enjoys the benefit of having the majority of its wells…

Texas Natural Gas Production Soars In June

Jul 06, 2017 at 15:16 | Ron Patterson

(Click to enlarge)Dean Fantazzini has provided me with updates to Texas Oil and Natural Gas estimates, the data shifted about a year ago…

Russian Energy Minister: No Additional Output Cuts Are Needed

Jul 06, 2017 at 13:00 | Tsvetana Paraskova

While the oil market is increasingly questioning if OPEC/non-OPEC’s production cuts have any effect, Russia’s Energy Minister Alexander Novak weighed in on Thursday, saying that the production cut pact…

‘’U.S. Rig Count Must Drop 150 For Oil Markets To Balance’’

Jul 06, 2017 at 11:42 | Tsvetana Paraskova

Analysts and investors have been growing increasingly concerned that the OPEC-led production cuts would not be enough to bring the oil market back to balance, and now one investment bank,…

Oil Prices Leap Higher On Strong Draw In Crude Inventories

Jul 06, 2017 at 10:22 | Irina Slav

Amid a fresh wave of pessimism on oil markets following faster than expected oil output growth in Libya and reports that Russia will oppose any deeper cuts to production, the…

U.S. Strategic Oil Reserves At 12-Year Low

Jul 06, 2017 at 09:22 | Irina Slav

The U.S. Strategic Petroleum Reserve is at a 12-year low after the Department of Energy made deliveries of volumes sold earlier this year, Bloomberg reported. According to the Department…

Don’t Hold Your Breath For Deeper OPEC Cuts

Jul 05, 2017 at 17:18 | Nick Cunningham

The rally in oil prices over the past two weeks came to a halt on Wednesday on news that OPEC is actually exporting more oil than previously thought. A month…

The Shale Gas Revolution Is A Media Myth

Jul 05, 2017 at 17:18 | Arthur Berman

Shale gas is not a revolution. It’s just another play with a somewhat higher cost structure but larger resource base than conventional gas. The marginal cost of shale gas production…

Investors Benefit In Surprise Move From Canadian Oil Major

Jul 05, 2017 at 15:54 | Tsvetana Paraskova

While many oil companies doubled down on debt to maintain or even increase dividends while profits were hard to come by in the ‘lower-for-longer’ oil price world, Canada’s biggest oil…

Saudis Refuse To Relinquish Grip On Key Asian Market

Jul 05, 2017 at 13:13 | Tsvetana Paraskova

While it is cutting more than required in the OPEC deal, Saudi Arabia is not ceding its grip on its biggest Asian market—Japan—and is raising market share by selling more…

Big Oil Begs Congress Not To Sanction Russia

Jul 05, 2017 at 12:11 | Nick Cunningham

ExxonMobil, Chevron and other oil majors are lobbying the U.S. Congress not to move forward with legislation that would slap new sanctions on Russia over the latter’s interference in the…

Expect More Mega Deals In This Oil & Gas Hotspot Soon

Jul 05, 2017 at 10:35 | Dave Forest

Lots of big news in oil and gas this week — including some follow-ups to recent stories I’ve been discussing. Including China’s CNPC further expanding influence in Brazil through…

Oil Slides As Russia Speaks Out Against Deeper Output Cuts

Jul 05, 2017 at 09:32 | Irina Slav

Russia will oppose any attempts to deepen the oil production cuts currently in effect in OPEC and 11 other oil producers, according to four government officials who spoke to…

Has U.S. Shale Wrecked Its Own Recovery?

Jul 04, 2017 at 16:27 | Zainab Calcuttawala

Operational improvements in shale and non-shale oil drilling, on top of lower expenses for oilfield services and access to pipeline capacity, have driven down the costs of producing the fossil…

Is Saudi Arabia Depending Too Much On The Ghawar Field?

Jul 04, 2017 at 16:22 | Henry Hewitt

About the only joy Fossil Fuelers have been getting lately is the sweet satisfaction that the ‘Peak Oil’ crowd got it wrong. What the Fossil Fuelers may need to start…

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