Tag: Oil Price

Column: US shale sector at critical price threshold

Column: US shale sector at critical price threshold

US shale firms dust off ambitious drilling growth plans at $55/barrel By John Kemp LONDON, Sept 14  – Forward US oil prices for 2018 have climbed back above $50 per barrel, a level that should be high enough to stabilise drilling activity over the next two months. But if prices continue their current upward trend, […]

By September 14, 2017 0 Comments Read More →
Oil prices drop as hedge funds head for the exit: Kemp

Oil prices drop as hedge funds head for the exit: Kemp

Exit by small number of traders turned into a rush on March 8 By John Kemp  LONDON (Reuters) – Hedge funds and other money managers had barely started liquidating their record bullish position in crude oil futures and options before prices tumbled on March 8. The critical question is how much more of the position will need to […]

Upstream industry will emerge from slump leaner, more efficient, more profitable – Wood Mackenzie

Upstream industry will emerge from slump leaner, more efficient, more profitable – Wood Mackenzie

E&P discoveries break down to about 25% oil and 75% gas, while current global production if 67% oil and 33% gas…”future is more gassy” The upstream exploration sector is still grappling with the oil price downturn, but new research from Wood Mackenzie indicates that the industry is poised to emerge from the slump leaner, more efficient and more profitable. “Our research […]

By September 20, 2016 0 Comments Read More →
Oil falls as speculators cool on crude, American drillers add rigs

Oil falls as speculators cool on crude, American drillers add rigs

Speculators last week made biggest cut in more than a year to bets that price of oil will rise LONDON (Reuters) – Oil prices fell for a second day running on Monday, driven lower by evidence of speculators cooling towards crude and after U.S. drillers added more rigs for a tenth week running. Brent crude […]

By September 12, 2016 0 Comments Read More →
Oil prices fall as oversupply weighs on markets

Oil prices fall as oversupply weighs on markets

Rising OPEC output, U.S. drilling data weighs – rebalancing market to take longer than thought-analyst By Barani Krishnan NEW YORK, Aug 1 (Reuters) – U.S. crude tumbled below $40 per barrel on Monday for the first time since April, as oil prices settled down nearly 4 percent on heightened worries of a crude glut despite peak summer […]

Oil prices up in choppy trade ahead of Britain’s EU vote

Oil prices up in choppy trade ahead of Britain’s EU vote

Oil up but well off session highs By Barani Krishnan NEW YORK, June 23 (Reuters) – Oil prices rose in volatile trade on Thursday, with investors less worried about prospects for the global economy after the last pre-vote opinion polls showed Britain was likely to remain in the European Union. Oil prices were also supported […]

Unplanned global oil supply disruptions reach highest level since 2011

Unplanned global oil supply disruptions reach highest level since 2011

Disruptions tied to political conflicts accounted for 90% of unplanned disruptions for the first 5 months in 2016 Unplanned global oil supply disruptions averaged more than 3.6 million b/d in May, the highest monthly level recorded since EIA started tracking global disruptions in Jan. 2011. From April to May, disruptions grew by 0.8 million b/d as […]

Oil’s boom and bust in North Dakota and the Bakken

Oil’s boom and bust in North Dakota and the Bakken

State economic slump caused by low oil prices has put serious strain on municipal finances, services BISMARCK, ND – In what could be his last address as the active Governor of North Dakota, Jack Dalrymple told the crowd at the Williston Basin Petroleum Conference that the industry is solid as solid can be, according to […]

Opinion: Rising oil prices throw lifeline to American shale producers

Opinion: Rising oil prices throw lifeline to American shale producers

“Given fragility of market rebalancing, and financial exhaustion of many US onshore oil producers, safer course now is to start locking in at current prices, even at risk of giving away some upside.” – Kemp By John Kemp LONDON, April 28 (Reuters) – Brent prices for 2017 ended trading above $50 per barrel on Wednesday for the […]

By April 29, 2016 0 Comments Read More →
Saudi Aramco expects oil prices to rise by end of 2016

Saudi Aramco expects oil prices to rise by end of 2016

Saudi Aramco CEO says gap between supply and demand has been shrinking RIYADH, Saudi Arabia _ Saudi Arabia’s state-owned oil giant expects oil prices will climb toward the end the year, saying the current price of around $30 a barrel is not sustainable. Saudi Aramco’s CEO Amin Nasser, speaking Tuesday at an investment conference in […]

By January 26, 2016 0 Comments Read More →