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Oil Prices Gain 2% on Tightening Supply

Article Archive | Page 1255

Can EVs Save Electric Utilities?

May 18, 2016 at 15:48

Electric cars hold the potential to destroy the oil business and save the electricity business. The big question now is when this will happen. Last year the world…

Nigerian Oil Output Falls 800,000 Barrels As Militants Step Up Attacks

May 18, 2016 at 12:41

Attacks on energy infrastructure continue to bombard the oil majors operating in the Niger Delta. The latest victim was Italian oil giant Eni, who told UPI in…

Wildfire Nears Canada’s Major Oil Sands Plants

May 18, 2016 at 11:56

A massive wildfire raging through the northern part of Alberta has swelled in size and surged north of Fort McMurray, destroying an evacuated oil sands camp on Tuesday…

Are The Saudis Facing A Full-Blown Liquidity Crisis?

May 18, 2016 at 11:15

Previously we documented that as a result of the still low oil prices, largely a result of Saudi Arabian strategy to put high cost producers out of business…

Oil Slips After EIA Reports 1.3M Barrel Build

May 18, 2016 at 10:02

Thirty-eight years after ‘The Buddy Holly Story’ had its world premiere, and everyday, it’s a getting closer ($50 crude that is). After a deluge of economic data overnight,…

Can Oil Prices Hold Onto Gains At $50 Per Barrel?

May 17, 2016 at 16:18

For the past few weeks, maintenance, sabotage, wildfire, strikes and rebel attacks have added to supply-side disruptions, as shown in the chart below. So now, everyone’s celebrating…

Will U.S. Shale Stage A Comeback As Oil Nears $50?

May 17, 2016 at 16:05

The casualty list in the oil and gas sector continues to climb. On Monday, unable to keep up with its mountain of debt, SandRidge Energy filed for…

European Natural Gas Prices Collapse

May 17, 2016 at 16:05

Oil and natural gas producers cannot catch a break of late it seems. A few years after the onset of the natural gas glut, Europe is experiencing a…

Brazil’s New Foreign Minister Suspected Of Dubious Dealings With Chevron

May 17, 2016 at 15:52

Brazil’s new government is less than a week old, and already there are seeds of a scandal after a strong media backlash against the fact that the cabinet…

Russia Remains Determined To Stop Israel-Turkey Pipeline Deal

May 17, 2016 at 15:50

It has been six years since the Israeli raid on the Mavi Marmara ship that was aiming to reach the Gaza coast in May 2010. In the wake…

Oklahoma Oil Industry About To Lose Tax Rebates

May 17, 2016 at 13:29

The Oklahoma Senate has suspended a tax incentive for the oil industry that’s likely to see a lot of small producers go under. Oklahoma is facing a budget…

Can Supply Outages Drive Oil To $50?

May 17, 2016 at 13:26

Looking at the critical figures and data in the energy markets this week, we see oil prices nearing $50 dollars as supply outages continue and U.S. production declines.

Oil Edges Higher Ahead Of Weekly Inventory Report

May 17, 2016 at 10:19

One hundred and forty-one years to the day after the first Kentucky Derby was run, and crude oil’s gallop higher has now slowed to a trot. As focus…

Did The Saudis Exaggerate Their U.S. Treasury Holdings?

May 17, 2016 at 09:49

In the aftermath of Saudi Arabia's explicit threat to sell off U.S. Treasuries (of which according to the NYT it had some $750 billion) should the…

Oil Price Spike Is Not As Far Away As Many Think

May 16, 2016 at 17:20

We are beginning to see the first real signs of the global oil markets moving rapidly back into balance. OPEC, which produces approximately 40 percent of the world’s…

Can Big Oil Survive At Today’s Prices?

May 16, 2016 at 16:47

Data suggests that oil producers need prices in the $70-80 range to survive. That is unlikely in the next year or so. Without more timely price relief, the future looks…

China’s Oil Industry Is Faltering, Production Falls 5%

May 16, 2016 at 16:11

Low oil prices and spending cuts are cutting into China’s oil production, a little known source of output declines that are helping to balance the market. New data…

Why Jim Chanos is Shorting the Oil Majors

May 16, 2016 at 15:57

Famous short seller Jim Chanos is shorting oil majors Royal Dutch Shell Plc and Chevron Corp, according to Bloomberg. He is operating under the belief that the…

Does Tesla Care About Its Stock Price?

May 16, 2016 at 12:55

It has been a rough month for Tesla with the stock down almost 25 percent in recent weeks. Yet for all of the pain for Tesla shareholders, the company…

Saudi Arabia Loses Top Credit Rating from Moody’s

May 16, 2016 at 11:42

Low oil prices continue to take a toll on oil producers in the Middle East. The latest sign of trouble comes from Moody’s Investors Service, which cut its…

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