Tag: Oil price

June 15, 2020

Energy giant BP announced Monday it had lowered its oil price expectations through to 2050, saying the aftermath of the coronavirus pandemic was likely to accelerate the transition to a lower carbon economy and energy system. The U.K.-headquartered oil and […]

March 27, 2020

CNBC’s Jim Cramer said Friday he thinks the price of oil will fall further because of demand and supply shocks from the dual crises of the coronavirus pandemic and global producer infighting. Cramer cited oil prices as something high-frequency, computerized […]

March 23, 2020

The big news related to the oil and gas business over the past few weeks has obviously been related to the crash in oil prices. First, the global demand destruction by the spread of the coronavirus knocked the price for […]

October 8, 2019

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 […]

February 22, 2019

The energy media has recently featured headlines that seem at odds with one another and that, when taken together, portend the possibility of a coming train wreck somewhere down the road where crude oil supply and prices are concerned. Let’s […]

January 28, 2019

Crisis-stricken Venezuela has been thrust back into the energy spotlight, analysts told CNBC on Monday, with a further slide into political chaos likely to trigger wild swings in the oil price. The oil-rich, but cash-poor, South American country is embroiled […]

September 24, 2018

Brent crude breached $80 a barrel on Monday — its highest level since November 2014 — on the back of a tightening oil market and OPEC leaders signaling they won’t be immediately boosting output. Oil futures in London jumped 2.7 […]

August 16, 2018

There is increasing evidence that the U.S. sector of the Gulf of Mexico is facing a decline in interest from oil and gas companies in the wake of more lucrative onshore shale basins stateside, Mexico’s shallow water plays and more […]

January 22, 2018

The U.S. economy is in boom mode, approaching what Mel Brooks’ called “Ludicrous Speed,” and at some point there must be a slowdown if not an outright recession. A standing economic joke was that once economists agree that we’ve conquered […]

December 8, 2017

Genuine gains have been made, but the industry will need further technological breakthroughs to overcome the geology Discussions about the US shale industry’s resilience through the oil price downturn and swift recovery inevitably turn to drillers’ ability to innovate their […]

November 6, 2017

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,” […]

February 13, 2017

Despite the near record increase in U.S. oil inventories last week – an increase of 13.8 million barrels – oil prices traded up on February 8 and 9 as traders pinned their hopes on a surprise drawdown in gasoline stocks, […]

March 29, 2016

Alaska has some hard decisions to make. Amid the plunge in global oil prices of more than 60% since mid-July 2014 and with oil production in the state already dropping due to maturing fields and with production losses not being […]

March 23, 2016

The numbers say that these should be the best of times for America. The economy has been growing for five years. Unemployment is low. Inflation is almost nonexistent and gas is cheap. Yet many Americans feel deeply uneasy about their […]

March 8, 2016

Oil prices fell on Tuesday on weak Chinese trading data, but Brent remained over $40 a barrel after jumping to 2016 highs the previous day when producers announced talks to support the market and investors opened new bullish bets. Brent […]

January 19, 2016

The International Energy Agency warned on Tuesday that a further drop in oil prices is likely as supply continues to exceed demand, placing “enormous strain” on the ability of the oil system to absorb it efficiently. Brent crude futures have […]