 |
WTI Crude •5 hours | 69.28 | +0.57 | +0.83% |
|
Brent Crude •5 hours | 79.78 | +0.49 | +0.62% |
|
Natural Gas •6 hours | 3.250 | +0.052 | +1.63% |
|
Mars US •5 hours | 74.12 | +1.12 | +1.53% |
 |
Opec Basket •2 days | 78.25 | -1.25 | -1.57% |
|
Urals •22 hours | 75.72 | +0.00 | +0.00% |
|
Louisiana Light •2 days | 76.63 | -1.00 | -1.29% |
|
Marine •22 hours | 76.52 | -0.93 | -1.20% |
|
Murban •22 hours | 79.18 | -0.89 | -1.11% |
|
Iran Heavy •22 hours | 75.13 | +1.16 | +1.57% |
|
Basra Light •22 hours | 78.89 | +0.98 | +1.26% |
|
Saharan Blend •22 hours | 78.78 | +0.73 | +0.94% |
|
Bonny Light •22 hours | 81.00 | +1.01 | +1.26% |
|
Canadian Crude Index •4 hours | 29.34 | +0.00 | +0.00% |
|
Western Canadian Select •2 days | 16.71 | -3.04 | -15.39% |
|
Canadian Condensate •2 days | 59.71 | -1.04 | -1.71% |
|
Premium Synthetic •2 days | 68.81 | -1.04 | -1.49% |
|
Sweet Crude •2 days | 39.21 | -1.04 | -2.58% |
|
Peace Sour •2 days | 36.21 | -1.04 | -2.79% |
|
Louisiana Light •2 days | 76.63 | -1.00 | -1.29% |
|
Domestic Swt. @ Cushing •22 hours | 65.50 | +0.25 | +0.38% |
|
Giddings •22 hours | 59.25 | +0.25 | +0.42% |
|
ANS West Coast •4 days | 80.75 | +0.45 | +0.56% |
|
West Texas Sour •22 hours | 63.07 | +0.47 | +0.75% |
|
Eagle Ford •22 hours | 67.02 | +0.47 | +0.71% |
Libya And Nigeria Lead OPEC Production Boost
OPEC ramped up crude oil…
Forget Lithium, This Is The Next Big Thing In Energy
There’s a virtually unknown commodity…
Conoco Boasts $40 Per Barrel Breakeven
It may sound a bit strange amid rising oil prices that one of the largest oil companies in the world is boasting it can break even at below US$40 a WTI barrel, but that’s exactly what ConocoPhillips chief executive Ryan Lance told CNBC.
"We can sustain our production, pay our dividend, below $40 a barrel. That's part of the transformation that we've been through," Lance said on the Power Lunch, adding that this made Conoco an industry leader in that metric. Last year, CNBC recalls, Conoco offloaded US$16 billion worth of non-core assets to make itself leaner and more resilient to price shocks by improving its business margins, Lance said.
Meanwhile, everyone is still watching the Middle East and Saudi Arabia in particular, but voices are starting to emerge warning that while in the immediate term the geopolitical tensions are positive for oil prices, they will eventually press them down.
One analyst, Roberto Friedlander, head of energy trading at Seaport Global Securities, said he expected that prices could hit US$70 a barrel before sliding down to US$50. CNBC’s regular Dennis Gartman said, "You may get another dollar or two upfront in the front months just because of the confusion. But in the long run, this is terribly detrimental to crude oil prices."
Related: Does The U.S. Lead The World In Carbon Emissions Reduction?
Others, such as industry expert Kent Moors, expect prices to continue climbing up. Moors recently told…
To read the rest of this article Start a FREE subscription to our premium publication
Oil & Energy Insider - 14 day free trial
A FREE Subscription Includes:
- Investment advice normally reserved for hedge fund clients.
- Market & sector research not available anywhere else.
- Strategic advice from corporate & military intelligence analysts.
- 9 Weekly Investment / intelligence reports.
- Full access to all previous reports.
- 14 days risk free trial.
An essential resource for all investors in the energy sector whether you're a trader, fund manager or individual investor - this inside look at the energy markets is unlike any other report or service currently available.
Irina Slav
Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.
