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Energy / Crude Oil

Texas Railroad Commission October Oil & Gas Report

Dec 19, 2014 at 16:42 | Ron Patterson

The Texas Railroad Commission has updated their Oil & Gas Production Data Query to include the production numbers for October. The Texas data is always incomplete so the charts…

The Latest Hot Spot For Offshore Oil

Dec 19, 2014 at 14:00 | Editorial Dept

  Oil prices may be lower than they have been in over a half decade, but that hasn’t slowed the interest in Canada’s oil reserves off of its east coast.…

Subtle Signs Emerging That A Bottom Is Near

Dec 19, 2014 at 13:45 | Jim Hyerczyk

Crude Oil OutlookOversupply continued to make it hard for…

Violence In South Sudan Threatens Chinese Oil Investment

Dec 18, 2014 at 17:29 | Global Risk Insights

On December 15, 2013, fierce fighting broke out in South Sudan’s capital, Juba. Rebel forces loyal to Machar targeted South Sudan’s oil fields,…

Bakken And North Dakota Production Report

Dec 15, 2014 at 15:17 | Ron Patterson

The North Dakota Industrial Commission just published their Bakken Monthly Oil Production Statistics and also their ND Monthly Oil Production Statistics.

Mexico Proceeds With Oil Auction Despite Low Oil Prices

Dec 12, 2014 at 15:31 | Nick Cunningham

Even with oil prices hitting five-year lows, Mexico has decided to move forward with its historic auction of offshore oil tracts. President Enrique Pena Nieto followed through on a 2012…

Big Oil Slashing Spending Amid Low Prices

Dec 11, 2014 at 16:03 | Nick Cunningham

Oil prices continue to slide in mid-December, slumping towards another key threshold of $60 per barrel. Oil prices hit a five-year low on December 10. While many major oil…

Iraq’s Bright Oil Future Blocked By ISIS

Dec 11, 2014 at 15:53 | Colin Chilcoat

Last week’s oil agreement between Baghdad and the Kurdistan Regional Government (KRG) was a milestone event and the market reaction was largely fitting – Brent crude futures dropped nearly…

Cracks Showing: OPEC November Production Data

Dec 11, 2014 at 15:03 | Ron Patterson

OPEC just published its December Monthly Oil Market Report with their crude only production numbers for November. Total OPEC…

EIA Oil Production Numbers Show Global Slowdown

Dec 10, 2014 at 14:46 | Ron Patterson

The EIA has recently published their International Energy Statistics. Their stats include all liquids such as NGLs, biofuels and even refinery process gain. But I only track actual oil.…

Oil Price Tumbles After OPEC Releases 2015 Forecast

Dec 10, 2014 at 10:31 | Andy Tully

The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s…

US Supreme Court Rejects BP Appeal

Dec 09, 2014 at 17:21 | Colin Chilcoat

Four years later, it is clear BP gravely miscalculated the magnitude of their mistake. On Monday, the United States Supreme Court rejected BP’s settlement appeal regarding 2010’s Deepwater Horizon…

World Proved Oil Reserves Data A Work Of Fiction

Dec 09, 2014 at 17:11 | Ron Patterson

The EIA publishes Annually a list of World Proved Reserves of Crude Oil. Though all charts in this post use the EIA data, BP, the IEA and virtually every…

The OPEC Conundrum: Expect Production Cuts Before June 2015

Dec 08, 2014 at 17:17 | Euan Mearns

When OPEC met on 27th November they decided to leave production unchanged and to not meet again until June 2015. This at a time of volatility in oil markets and…

Norway’s Oil Decline Accelerating

Dec 05, 2014 at 17:16 | Nick Cunningham

New oil projects are being scrapped in Norway amid falling production and low oil prices. Long held up as the model for managing oil abundance, Norway has painstakingly sought to…

Signs Of Peak Oil Starting To Emerge

Dec 05, 2014 at 15:33 | Euan Mearns

What caused the recent crash in the oil price from $110 (Brent) in July to $70 today and what is going to happen next? With the world producing 94 Mbpd…

The Technical Trend Is Down But Is A Turnaround Coming Soon?

Dec 05, 2014 at 10:39 | Jim Hyerczyk

Last week, OPEC triggered a sell-off in January Crude Oil when it decided to refrain from making a production cut. The almost 10% break in prices was triggered by sell…

Global Drilling Slowdown On The Way

Dec 03, 2014 at 13:27 | Euan Mearns

Baker Hughes rig count statistics show how drilling reacted to earlier falls in the oil price. There is always a time lag of months between an oil price event…

Is The Arctic Dream Dead?

Dec 02, 2014 at 16:36 | Colin Chilcoat

The Arctic offshore will be drilled; it’s only a matter of time. However, the dream to have commercially viable production in the immediate future may very well be dead. Continually…

Will OPEC’s Decision Lead To The End Of The American Shale Dream?

Dec 02, 2014 at 15:16 | Kurt Cobb

To paraphrase Mark Twain: Rumors of OPEC's demise have been greatly exaggerated. Breathless coverage of the rise in U.S. oil production in the last few years has led some to…

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