Category: Commercialization

January 23, 2020

Chevron CEO Michael Wirth told CNBC on Thursday that oil prices may not reach $100 for a “long time” thanks to the boom in U.S. shale production. “Oil markets have really changed over the last decade or so,” Wirth said […]

January 17, 2020

The phase 1 trade deal with China has been signed at the White House and includes the Chinese promise to ‘strive’ to import $50 billion worth of oil and natural gas from the U.S. this year and next. Although that […]

January 10, 2020

Markets responded positively to President Donald Trump’s January 8 address in the wake of Iranian rocket attacks against Iraqi bases housing US troops, with traders interpreting his overtures for peace and cooperation with the Islamic Republic as a sign of […]

January 8, 2020

Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday. Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants increasingly […]

January 6, 2020

In the small hours of Friday (January 2) morning, the global oil market got its first geopolitical jolt of 2020 after a U.S. airstrike in Iraq took out Qasem Soleimani, an Iranian General of the country’s Islamic Revolutionary Guard Corps, […]

January 3, 2020

The U.S. killing of General Qassem Soleimani, head of Iran’s elite Quds force, will certainly see a response by the Iranian government and/or its Revolutionary Guards, and this will definitely keep oil prices higher, with Brent already approaching $70 and […]

December 30, 2019

Growth in U.S. oil production may have started to slow, but the Organization of the Petroleum Exporting Countries (OPEC) is sorely mistaken if it thinks it will soon be out of the supply-cut game. While U.S. shale has been overwhelmingly […]

December 30, 2019

Oil traders should look out below for the next 12 months. Next year, the energy market faces a double whammy of a supply glut and lackluster demand that could send prices for crude oil down more than 10% from current […]

December 27, 2019

Oil prices retreated from three-month highs on Friday, moving lower despite upbeat economic data from China and the United States and optimism over a trade deal between the two major economies. Brent crude futures shed 29 cents to trade at […]

December 18, 2019

Saudi Aramco (SR:2222) has emerged as the most valuable publicly traded company in history. Since opening on the Saudi stock exchange December 11, the valuation of the national oil giant jumped to $2 trillion ($2.03 trillion to be exact) – […]

December 17, 2019

Goldman’s updated environmental policy framework includes pledges to decline financing that directly supports new thermal coal mines and upstream Arctic oil exploration and development. Instead, the company is targeting US$750 billion in sustainable finance growth themes by 2030. Bloomberg states […]

December 17, 2019

The price of the U.S. oil benchmark, WTI, hit nearly a 3-month high on Monday reaching $60.21 per barrel on news that China and the U.S. agreed to Phase One of a trade deal. For months, oil prices have hinged […]

December 6, 2019

Energy ministers from some of the world’s largest oil producers have agreed to deepen recurring production cuts by an additional 500,000 barrels per day (b/d) through to March 2020. OPEC and non-OPEC allies, often referred to as OPEC+, decided to […]

December 5, 2019

OPEC kingpin Saudi Arabia has denied pursuing a deeper round of production cuts, one senior oil official told CNBC on Thursday, despite intense speculation the global oil-producing group was on the cusp of imposing further output curbs. The oil-rich kingdom […]

December 4, 2019

As OPEC and its allies meet this week in Vienna, some pundits anticipate they will seek to reassure nervous markets with additional production cuts. Expectations that next year will see a growing oil surplus if nothing is done have already […]