AI and other tech could…
U.S. oil prices surpass $80…
The latest assessment of the estimated oil reserves in the Bakken and Three Forks formation in the northern U.S. plains states was about twice as much as previously thought. Those…
A U.S. circuit court of appeals last week told the oil industry it couldn't pursue a case on disclosure rules at the appellate level. President Barack Obama's government has supported…
June crude oil surged on the daily and weekly charts, regaining a key support line and setting up the market for further upside action. Before getting too excited, however, keep…
Some call it the “holy rail.”In Alberta Canada, an estimated 120,000 barrels of oil per day are shipped out by train to the U.S. east coast and Gulf…
Norway’s Statoil (STO) is sitting on a new discovery in the North Sea that could contain between 40 million and 150 million recoverable barrels of oil equivalent, the company said…
For three decades or so, Saudi Arabia has wielded considerable influence on the global oil market. The kingdom's status as the world's only "swing producer" has given it the unparalleled…
We have all heard the story about oil supply supposedly rising and falling for geological reasons. But what if the story is a little different from this–oil production rises and…
Last week’s technical report suggested that June crude oil was poised for a volatile move because of the triangle chart pattern formation it had formed. Although the chart pattern indicated…
As a result of the hydraulic fracturing (fracking) revolution, US oil and natural gas production have been rising for several years. According to the Energy Information Administration (EIA), US oil…
Reflections by Robert Hirsch on the Conference “Peak Oil: Challenges and Opportunities for the GCC Countries”.Held at Doha, Qatar on 2-4 April 2013. Posted with his generous permission.
We in the United States, the Euro-zone, and Japan are already past peak oil demand. Oil demand has to do with how much oil we can afford. Many of the…
June crude oil futures traded mixed last week as traders had to deal with conflicting signals. Technically, the market is oversold on a short-term basis which gives it a slight…
Bottom Line: The Russian Finance Ministry’s proposed increase in extraction taxes of 5% for 2014-2016 is intended to raise money for building roads, but the tradeoff is a sweet incentive…
The cheapest and most profitable oil North America has ever seen is now “flooding” into the market, as producers once again use old technology to create a wave of new…
Technology using natural soil bacteria for enhanced oil recovery is now commercially available and poised to recover the crude oil remaining in thousands of exhausted oil wells.Brian Clement,…
With all the talk about new oil discoveries around the world and new techniques for extracting oil in such places as North Dakota and Texas, it would be easy to…
The Baghdad-Erbil oil standoff will escalate as the Iraqi Kurds sell their first crude oil on the international market and as Austria’s OMV launches production at one of its wells…
Recently, I explained how high oil prices can bring on financial collapse for oil importers. In this post, I’ll discuss the flip side of the situation: how oil exporters…
The provincial government in Alberta is mulling new rules that would require the oil industry to cut greenhouse gas emissions tied to oil sands production by as much as 40…
After posting a high last week at $97.80, May crude oil sold off sharply on the daily and weekly charts. The fundamental catalyst behind the move was an unexpected rise…