Tag: oil

Commercialization, Conventional Fuels

OPEC sticks to its bullish oil demand forecast, but now sees more US output growth

December 13, 2017

Via: CNBC energy

OPEC forecasts strong global appetite for crude oil in 2018 but now sees output from the United States and elsewhere growing more than previously expected. The 14-member oil cartel’s latest read on supply and demand comes just two weeks after […]

Commercialization, Conventional Fuels

Goldman Sachs raises 2018 oil price forecast

December 5, 2017

Via: CNBC energy

A stronger than anticipated OPEC-led commitment to extend production cuts will support prices through 2018, according to analysts at Goldman Sachs. In a research note published late Monday, Goldman lifted its Brent price forecast for next year to $62 a […]

Commercialization, Conventional Fuels

Oil prices are spiking toward 2½-year highs after OPEC extends output cuts

December 1, 2017

Via: CNBC energy

Oil prices spiked higher on Friday, heading toward 2½-year highs the morning after two dozen crude-producing nations agreed to limit their output through the end of 2018. U.S. West Texas Intermediate crude prices rocketed up 98 cents per barrel, or […]

News and Policies, U.S.

A Major Disruptive Force In The Global Economy? Look No Further Than U.S. Oil Exports

November 30, 2017

Via: Forbes

When we think of disruptive forces in the global economy, we often think of technological breakthroughs. Of ever-tinier and more powerful computer chips; of medical miracles in implantable devices, surgeries or pills; of digital platforms that threaten the taxi industry, […]

Commercialization, Conventional Fuels

Oil prices will probably sell off after a key meeting of big producers. Here’s why

November 28, 2017

Via: CNBC energy

Market watchers see few opportunities for oil prices to rally — but plenty of room for them to fall — after a critical meeting of energy ministers later this week. About two dozen oil exporters, including top producers Saudi Arabia […]

News and Policies, World

Artificial intelligence will have huge impact for oil and gas, Microsoft executive says

November 17, 2017

Via: CNBC energy

Artificial intelligence (AI) is set to have the biggest technological impact on the oil and gas industry over the coming years, according to Microsoft’s oil and gas director for the Middle East and Africa. Speaking at the Abu Dhabi International […]

Commercialization, Conventional Fuels

World Energy Outlook: oil-price pressure

November 16, 2017

Via: Petroleum Economist

While crude demand will grow over the long-term, vast US reserves and lower cost production will keep a lid on prices, says the International Energy Agency The need to replace existing oil reserves, if nothing else, is likely to keep […]

Domestic, Energy Consumption

OPEC predicts oil and gas to remain world’s most important energy source to 2040

November 15, 2017

Via: PetrolPlaza

The latest edition of the OPEC World Oil Outlook predicts oil will remain the world’s largest source of energy over the next two decades, despite the increasing importance of renewables. Released in an exclusive briefing to senior industry executives at […]

Commercialization, Conventional Fuels

Oversupply has fundamentally changed the natural gas market — but it won’t last long

November 15, 2017

Via: CNBC energy

A global liquefied natural gas (LNG) supply glut may soon be offset by a rapid uptick in demand, Oil Search CEO Peter Botten said Wednesday. “The market has fundamentally changed in the past few years,” Botten said at the Abu […]

Energy Consumption, World

Continuous disruption is new normal for oil and gas industry, Baker Hughes CEO says

November 14, 2017

Via: CNBC energy

Continuous disruption in the oil and gas industry should be viewed positively, Baker Hughes CEO Lorenzo Simonelli said Tuesday. Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC), Simonelli said, “We have to look at disruption as being our […]

Commercialization, Conventional Fuels

OPEC sees tighter 2018 oil market as demand grows and supply falls

November 13, 2017

Via: CNBC energy

OPEC on Monday forecast higher demand for its oil in 2018 and said its production-cutting deal with rival producers was reducing excess oil in storage, pointing to an even tighter global market next year. In a monthly report, the Organization […]

Chemical, Conventional Fuels, News and Policies, U.S.

US—revival in the north

November 7, 2017

Via: Petroleum Economist

Drilling in Alaska is pricey compared with tight oil in the Lower 48. But the potential remains huge At one point in the 1970s Alaska was home to some of the largest oilfields ever found in the world. The rise […]

Commercialization, Conventional Fuels, News and Policies, World

Will The Security Premium Return To Oil?

November 6, 2017

Via: Forbes

When oil went from $20 to $40 then $60 after 2000, there were numerous explanations for the surge, especially given that there didn’t appear to be actual physical shortages of oil. Although many blamed speculators who are the “usual suspects,” […]

News and Policies, Uncategorized, World

Oil and gas professionals discuss the industry at ADIPEC 2017

November 3, 2017

Via: PetrolPlaza

Transformation, diversification and evolution will be top keywords at the world’s leading annual conference for oil and gas professionals, the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). ADIPEC is renowned as a global hub for knowledge exchange in the […]

Energy Consumption, News and Policies, World, World

Column: Booming oil demand is eroding inventories

November 2, 2017

Via: American Energy News

LONDON, Nov 2 (Reuters) – Global oil consumption is growing rapidly, helping account for the decline in reported inventories, the recent surge in prices and the shift in futures markets from contango to backwardation. Consumption is much harder to measure […]