Tag: oil prices

Commercialization, Conventional Fuels

OPEC chief says global oil demand will pass 100 million barrels per day by 2020

October 19, 2017

Via: CNBC energy

OPEC General Secretary Mohammad Barkindo said Thursday that oil markets are rebalancing at “an accelerating rate” and that he foresaw “no peak” for oil demand for “the considerable future.” Speaking at the Oil & Money conference in London, Barkindo said […]

Commercialization, Conventional Fuels

Oil will crash to $10 a barrel with electric vehicle revolution, strategist says

October 13, 2017

Via: CNBC energy

Oil prices are poised to crash to just $10 per barrel over the next six to eight years as alternative energy fuels continue to attract more and more investors, Chris Watling, chief executive of Longview Economics, told CNBC on Friday. […]

Commercialization, Conventional Fuels

OPEC pumped at the second-highest level this year in September, raises oil demand forecast again

October 11, 2017

Via: CNBC energy

OPEC’s production hit the second highest monthly level this year in September, returning to growth after the oil cartel’s output fell for the first time in five months in August. On a more bullish note, the producer group on Wednesday […]

Energy Economics

End of a golden era for refiners?

September 22, 2017

Via: Petroleum Economist

Like upstream, the refining sector has been undergoing consolidation over the past decade. Bigger players are holding on to plum assets and smaller independents have adopted agile business models to eke out profits from what’s left. Those who stuck with […]

Chemical, Conventional Fuels

Oil industry now worried about peak demand not peak production, says strategist

September 12, 2017

Via: CNBC energy

Oil prices are being weighed down by concerns we have reached the limits of demand which is crippling valuations more than other factors such as the threat from electric cars and national policies geared at banning vehicles running on petrol […]

Commercialization, Conventional Fuels

Oil firms as US Gulf refineries restart, dollar softens

September 7, 2017

Via: CNBC energy

Brent oil prices firmed on Thursday, hovering near 3-1/2-month highs as U.S. refiners restarting after Tropical Storm Harvey increased their crude processing and the U.S. dollar declined. Brent crude futures were up 39 cents at $54.59 a barrel by 0921 […]

News and Policies, World

Oil Demand Is Growing Nearly Everywhere

September 1, 2017

Via: Forbes

Earlier today I delivered the keynote address at the Uintah Basin Energy Summit in Vernal, Utah. The Uintah Basin is an oil-producing region predominantly in the eastern portion of Utah. Like many other oil-producing states, Utah saw its oil production […]

News and Policies, U.S.

Flooding knocks out US refineries, crude hit by supply disruptions

August 29, 2017

Via: CNBC energy

Crude traded in a narrow but volatile range on Tuesday as the market grappled with the shutdown of some 13 percent of refining capacity in the United States, the world’s largest oil consumer, after a hurricane ripped through the heart […]

Commercialization, Conventional Fuels

Oil prices rise as Hurricane Harvey heads for US Gulf coast

August 25, 2017

Via: CNBC energy

Oil prices rose on Friday as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico. The storm has rapidly intensified since Thursday, spinning […]

Commercialization, Conventional Fuels

Oil steady as market conditions tighten despite rising US output

August 21, 2017


An oil pump jack in the oil town of Gonzales, Texas. Oil markets were stable on Monday, largely holding on to Friday’s big gains even though rising U.S. output weighed on hopes the market will tighten after a 13 percent […]

Commercialization, Conventional Fuels

Oil prices fall amid broader market selloff, despite tightening supplies

August 18, 2017


Oil prices fell early on Friday as part of a broad-based selloff across markets and despite signs that crude markets are gradually tightening. Brent crude futures, the international benchmark for oil prices, were at $50.93 per barrel at 0031 GMT, down […]

Commercialization, Conventional Fuels

Oil edges up on falling US crude stocks

August 16, 2017


Oil prices edged up on Wednesday, lifted by declining U.S. crude inventories, although markets were still restrained by excess supply. Market focus was turning to the release of official U.S. Energy Information Administration data later on Wednesday for a further […]

Commercialization, Conventional Fuels

Oil prices jump on possible US shale slowdown

July 26, 2017

Via: American Energy News

Oil prices rose 3.3 per cent on Tuesday to the highest close in over a month one day after Anadarko reported it will cut capital spending plans and Saudi Arabia pledged to cut its exports to help tackle to global […]

Mainstream technologies, Renewable Energy

Renewables Industry Learning from Oil and Gas Insights

July 21, 2017

Via: Renewable Energy News

The way the world thinks about renewable energy has transformed. It is no longer just a concept but a reality, and interest in renewable energy is growing globally. With much of the world looking for fossil-free energy sources, wind power […]

Commercialization, Conventional Fuels

Oil dips on ample supply despite OPEC pledge to cut output

July 14, 2017


Oil markets dipped on Friday, pulled down by high fuel inventories and improving industry efficiency, but were still on track for a solid weekly gain. Brent crude futures, the international benchmark for oil prices, were down 7 cents, or 0.1 percent, […]