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Chevron

This Supermajor Is About To Slash Permian Oil Production

Chevron is slashing capital expenditures,…

Energy / Crude Oil

Benj

S&P Cuts Oil Nations Ratings

Mar 27, 2020 at 11:24 | Irina Slav

Several oil-producing nations woke up to lower credit ratings from S&P amid the latest oil price rout, Reuters reports, listing Oman, Nigeria, Mexico, Angola, and Ecuador among those downgraded and…

Bonespring

Is This The Beginning Of The End For Texas Oil?

Mar 26, 2020 at 18:03 | Nick Cunningham

Widespread misery was evident in the Dallas Fed’s latest survey, which included responses from 161 energy firms and took place from March 11-19.…

Chevron Permian

The Permian Boom Is Going Bust

Mar 25, 2020 at 11:49 | Nick Cunningham

Oil companies are already beginning to pare back their activity in the Permian, with cutbacks coming not just from smaller drillers, but also the oil majors.  Chevron said on…

Oil tanks

World’s Largest Oil Trader Says Demand Could Plummet By 20 Million Bpd

Mar 25, 2020 at 11:06 | Irina Slav

A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomberg in an interview. At its peak, oil…

Trump Saudis

How Far Will Trump Go To Save U.S. Shale?

Mar 24, 2020 at 18:52 | Julianne Geiger

The U.S. is today showing signs of increased desperation as oil prices sink to levels that may pose a threat to the energy independence of the United States by kicking…

Shale rig

What Happens If U.S. Shale Goes Bust?

Mar 24, 2020 at 17:57 | Haley Zaremba

This month has seen a spectacular oil price crash the likes of which we haven't seen in decades. The last time we had since a single day oil…

Chevron

This Supermajor Is About To Slash Permian Oil Production

Mar 24, 2020 at 10:42 | Tsvetana Paraskova

Chevron is slashing capital expenditures, especially in the Permian, and is suspending its share buyback program, the U.S. supermajor said on Tuesday. It is the latest oil major to slash billions…

Barrels

Saudi Arabia And The U.S. Could Form The World’s Newest Oil Cartel

Mar 24, 2020 at 10:02 | Irina Slav

The United States and Saudi Arabia have been discussing the idea of setting up an oil accord, Bloomberg reports, citing Energy Secretary Dan Brouillette. Such an agreement would effectively amount…

oil tanks

Not Even China Can Save Oil Markets This Time Around

Mar 23, 2020 at 14:57 | Tsvetana Paraskova

Despite still sluggish oil demand, China is expected to continue to build its strategic and commercial crude oil reserves with ultra-cheap oil, but this time around the rate of filling…

Shale Permian

The Boldest Permian Plays To Watch As The Oil Market Circles The Drain

Mar 23, 2020 at 14:25 | David Messler

Over-supplied markets like the oil market take prices in only one direction, down. We are seeing indications of a historically over-supplied market right now, so we expect continued…


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