Tag: oil

News and Policies, U.S.

US Exported More Oil Than it Imported For the First Time in Over 70 Years

November 18, 2019

Via: Energy Collective

Based on preliminary data and model estimates, EIA (US Energy Information Agency) estimates that the United States exported 140,000 b/d more total crude oil and petroleum products in September than it imported; total exports exceeded imports by 550,000 b/d in […]

Energy Consumption, World

Growth in global oil demand more than doubled in the third quarter, IEA reveals

November 15, 2019

Via: CNBC energy

Global oil demand in the third quarter of 2019 grew by 1.1 million barrels a day, more than double the 435,000 barrels a day in the previous quarter, according to the latest report from the International Energy Agency (IEA). China […]

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

U.S. Oil Production Set To Keep Rising

November 14, 2019

Via: Forbes

Along with slower global demand growth, surging U.S. oil production has been the primary bearish factor in the oil market. Per U.S. Department of Energy numbers, domestic crude output is at all-time records of 12.6 million b/d, some 80% of […]

Commercialization, Conventional Fuels

Can Integrated Value Chains Withstand Low Oil Prices?

November 13, 2019

Via: Forbes

Think back only a few years to 2015 – oil prices were at similar levels to today. The oil majors’ upstream financial performance was poor, but their downstream businesses saved the day for overall corporate results. The benefits of the […]

Commercialization, Conventional Fuels

Goldman Sachs says oil prices are going nowhere next year

October 23, 2019

Via: CNBC energy

International benchmark Brent crude is likely to continue trading at around $60 a barrel next year, Goldman Sachs said on Wednesday, in the absence of any “meaningful” energy market shocks. The U.S. investment bank said Brent crude futures had been […]

News and Policies, World

Oil-Rich Kazakhstan Begins The Long March Towards Renewables

October 18, 2019

Via: Forbes

The massive 20%-spike in oil prices following the Abqaiq-Khurais attacks on Saudi Arabia’s oil production facilities has since completely evaporated. Brent crude peaked at $71.95 per barrel when markets reopened on Monday, September 16, but prices have now plummeted to […]

Commercialization, Conventional Fuels

Slowing Permian Oil Supply Might Be Reversed Soon

October 15, 2019

Via: Forbes

Turmoil in the oil market is nothing new, and recent events in the Middle East, including the missile attack on Abqaiq and the apparent attack on an Iranian tanker, have overshadowed developments in the oil market fundamentals, but further out […]

Commercialization, Conventional Fuels

Oil prices jump more than 1% after Iran says two missiles struck one of its tankers

October 11, 2019

Via: CNBC energy

Oil prices rose sharply on Friday morning after Iranian state media said that two rockets had struck an Iranian tanker traveling through the Red Sea. Brent crude futures were up 1.4% at $59.93 a barrel, with West Texas Intermediate (WTI) […]

Chemical, Conventional Fuels, Energy Consumption, World

OPEC cuts oil demand growth forecast for a third consecutive month

October 10, 2019

Via: CNBC energy

OPEC trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific region as well as advanced economies in the Americas. The move is likely to add to […]

News and Policies, State

California’s High Gasoline Prices Are No Accident

October 10, 2019

Via: Forbes

An October 8 CNN story about gasoline prices carried this headline: “California gas prices soar above $4, reaching the highest price in five years.” One can only wonder if most Californians understand that that is all part of their state […]

Chemical, Conventional Fuels, News and Policies, World

Following Saudi Oil Attack, Aramco Pushes Ahead With IPO Plans and Restoring Oil Production

October 9, 2019

Via: Forbes

Topline: In the wake of last month’s attack on Saudi Aramco oil facilities, the state oil giant has quickly recovered, aiming to restore full production and forging ahead with its plans for what would be the world’s largest-ever IPO later […]

Chemical, Conventional Fuels

The Oil And Gas Situation: Is The Industry Dying? Not Hardly.

October 8, 2019

Via: Forbes

In a famous scene from the 1971 film “Big Jake,” Richard Boone’s character, John Fain, responds to being shot by John Wayne’s character, Jacob McCandles, by saying, “I thought you were dead.” To which McCandles responds, “Not hardly.” It’s a […]

Commercialization, Conventional Fuels, Energy Economics

Energy just fell 4% in a week—here’s the biggest area of weakness, according to one strategist

October 7, 2019

Via: CNBC energy

Talk about losing energy. Now the only S&P 500 sector in the red for 2019, energy has had a difficult week, falling more than 4% as soft economic data reignited fears around slowing global growth and the impact of intercontinental […]

Commercialization, Conventional Fuels

Oil will hit levels ‘we haven’t see in our lifetimes’ if Iran isn’t stopped, Saudi crown prince says

September 30, 2019

Via: CNBC energy

DUBAI — Saudi Arabia’s Crown Prince Mohammed bin Salman has warned of astronomical oil prices in the event that tensions escalate in the Persian Gulf, two weeks after his country was hit by a drone and cruise missile attack that […]

Chemical, Conventional Fuels, News and Policies, World

How Saudi Attacks Will Continue To Benefit American Oil Companies

September 27, 2019

Via: Forbes

Saudi Arabia is moving quickly to restore the 5.7 million barrels a day of oil production knocked out in the September 14 drone and missile attacks on its Abqaiq processing facility. But even if the kingdom can return output of […]