Commodity Pricing

Crude by Rail is Down

Crude by Rail is Down

Decreased price spread and new pipelines are decreasing crude by rail shipments

EIA Crude by Rail

The movement of crude oil by rail is down in the United States. Crude by rail shipments reached a peak in October 2014 at 928 MBOPD before trending …

A rig site in North Dakota

U.S. Oil Production Sees First Year-Over-Year Decline in Four Years

Oil production in December 2015 down 166 MBOPD from a year earlier

The decline in crude oil prices took longer to pull production down than many expected, but it is happening, according to data from the EIA. Crude oil …

Rumors of a $50 OPEC Price Floor Send Prices Higher

Rumors of a $50 OPEC Price Floor Send Prices Higher

Brent crude oil broke $40 per barrel for the first time in 2016

Both U.S. and international crude benchmarks are up over 5% today as rumors of a potential OPEC price floor give new hope of a “fair price for …

The Lending Environment for 2016:  What’s the Banker’s Eye View?

The Lending Environment for 2016: What’s the Banker’s Eye View?

Redeterminations Can’t Come Fast Enough: Energy Bankers

As we sit here today WTI is trading around $34 per barrel and natural gas at $1.68 per Mcf. Reserve base lending agreements are scheduled to be redetermined in the coming months.  …

Natural Gas: Cheap Fuel with Low Carbon Emissions

Natural Gas: Cheap Fuel with Low Carbon Emissions

And the U.S. Has an Abundance of It

Here’s another bit of energy upside, and it’s something for the shale gas producers to cheer about. The EIA released its 2015 power generation fuel data and natural gas was behind coal …

Oil Prices Fluctuating After 10.4 Million Barrel U.S. Storage Build

Oil Prices Fluctuating After 10.4 Million Barrel U.S. Storage Build

“The market’s not shocked anymore”

The price of both U.S. and international crude oil benchmarks has been fluctuating this morning following news from the Energy Information Administration that crude stockpiles grew by more than 10 million barrels last week. The …

Is the Shale Boom Finally Taking a Breather?

Is the Shale Boom Finally Taking a Breather?

Heavy hitting U.S. shale producers lower production guidance 10% or more for ‘16

U.S. shale producers are beginning to announce production cuts as the global glut is keeping prices lower for longer. There is a marked difference as companies begin …

Rising Gasoline Demand Sparks Increased Oil Prices

Rising Gasoline Demand Sparks Increased Oil Prices

Stronger economic data helps lift oil prices

Oil prices are on track for the first weekly gain in a month today with both WTI and Brent crude prices up on Friday. U.S. Department of Energy numbers this week showed another …

Oil & Gas 360 Energy News

MLPs: Time for a Second Look?

MLPs: Finding Yield

After seven years of the most accommodative monetary policy in U.S. history, Janet Yellen and the Federal Reserve decided on December 16, 2015 to raise the federal funds target rate from 0 to 0.25 percent to 0.25 …

Energy Professionals: You Are Mobile

Energy Professionals: You Are Mobile

Energy Industry Professionals: You are Mobile - Oil & Gas 360 Closing Bell Report global-audience

The point is:  people in the energy business are extremely mobile.

One glance at “Closing Bell Report” on your computer, phone or tablet tells you exactly what’s going on in the global oil and gas industry that day.

“Closing …

Oil Prices Tumble as Saudi Oil Minister Says ‘No Chance’ of Production Cuts

Oil Prices Tumble as Saudi Oil Minister Says ‘No Chance’ of Production Cuts

“There is no sense in wasting our time seeking production cuts” – Ali al-Naimi

Both U.S. and international benchmark crude tumbled more than 4% this morning after making gains in the last week. The culprit was the comment from Saudi …

Oil Prices Up as IEA Sees Balance in 2017

Oil Prices Up as IEA Sees Balance in 2017

U.S. light tight oil production expected to fall 600 MBOPD in 2016

Oil prices are up more than 7% and 5% for WTI and Brent crude, respectively, today as news from the International Energy Agency forecasts production falling amid a …

Oil Market Balance will Return by the End of 2017: EIA

Oil Market Balance will Return by the End of 2017: EIA

The dreaded surplus is only 3 days’ production

Global oversupply in the oil market has almost become a curse word in the oil and gas industry. Since the OPEC decision to maintain output levels on November 28, 2014, the industry …

Four OPEC, Non-OPEC Producers Agree to a Production Freeze

Four OPEC, Non-OPEC Producers Agree to a Production Freeze

Markets unsatisfied with deal to maintain production

The first signs of cooperation between OPEC and non-OPEC countries on crude oil production emerged today in the form of a deal between Russia and three OPEC members, including the group’s largest producer, …

Crude Exports, LNG and NatGas: Part II with NAPIA and Energy Directions President Mike Smolinski

Crude Exports, LNG and NatGas: Part II with NAPIA and Energy Directions President Mike Smolinski

In this second and final part of our exclusive interview, NAPIA and Energy Directions President Mike Smolinski talks about the effect of growing U.S. crude oil and LNG exports on global markets and refining, the effect of $2.50 natural gas …

Oil Prices Hold Steady as Saudi Arabia and Russia Prepare for Closed-Door Meeting

Oil Prices Hold Steady as Saudi Arabia and Russia Prepare for Closed-Door Meeting

WTI crude oil prices hold above $29 per barrel, while production remains steady

Crude oil prices shot up over 12% last Friday, moving prices up from a 12-year low last week. Comments from The UAE’s Oil Minister Suhail bin …

Oil Price Recovery Would Take 18 Months if it Started Today – Continental Resources VP

Oil Price Recovery Would Take 18 Months if it Started Today – Continental Resources VP

An Oil & Gas 360® exclusive interview with Kirk Kinnear, vice president of crude logistics and hedging at Continental Resources

Market volatility has crude oil prices making huge swings, both up and down, with markets reacting to even just a …

Source: Iraqenergy.org

WTI Up 12% on Further Speculation of OPEC Cuts

Hopes of a coordinated cut from OPEC continue to spur WTI prices

Prices for U.S. crude oil benchmark WTI were up over 12% at 1:20 p.m. EST today on continued hopes that OPEC would cut production in order to bolster …

Oil Bounces off 12-Year Low Following UAE Comment about OPEC Cut

Oil Bounces off 12-Year Low Following UAE Comment about OPEC Cut

UAE energy minister said OPEC members ready to cooperate

The price of oil today approached a new low of $26.21 per barrel today, the lowest since May 8, 2003, when it hit $26, before bouncing up on news of a …

Oil Supply & Demand: an Interview with NAPIA and Energy Directions President Mike Smolinski

Oil Supply & Demand: an Interview with NAPIA and Energy Directions President Mike Smolinski

In this multi-part interview, NAPIA and Energy Directions President Mike Smolinski talks about oil demand, supply, price shocks, and a coming rebalance, with a detailed look at how today’s oil market fundamentals will affect U.S. oil and gas producers, oilservice …

The Shale Revolution Continues: BP

The Shale Revolution Continues: BP

Technological innovation to drive U.S. shale oil output to nearly 8 MMBOPD by 2035

While the U.S. shale industry is currently taking a beating along with most other crude oil producers around the globe, BP’s (ticker: BP, BP.com) 2016

Russia’s Medvedev Says Low Oil Prices are an Opportunity to Restructure the Economy

Russia’s Medvedev Says Low Oil Prices are an Opportunity to Restructure the Economy

“We are obliged to use these difficult moments and really change the structure of the economy” – PM Medvedev

Russia appears to be searching for a silver-lining while its economy struggles from low oil prices, international sanctions and a devalued …

Saudi Arabia Kills Venezuela’s Production Cut Deal

Saudi Arabia Kills Venezuela’s Production Cut Deal

Venezuela on track for the largest sovereign debt default in history

OPEC’s members, along with other major oil producers like Russia and the U.S., have all been feeling the pain of lower oil prices, but perhaps none more than Venezuela. …

Pickens is in Cash, Waiting for Recovery: Bloomberg

From Bloomberg

Oil tycoon T. Boone Pickens, who made and lost fortunes targeting some of the largest U.S. explorers over the past 40 years, has cashed out as the worst crude market downturn in decades drags on.

Pickens has sold …

February 5, 2016 - 2:29 pm Closing Bell Story‎, Commodity Pricing, Energy News

Saudi Arabia Cutting – Price, Not Production

Saudi Arabia continues its plan to protect market share

Saudi Arabia today cut prices of its oil to customers in major markets including Europe, Asia and the Mediterranean in the hopes of defending its market share. The move is seen …

Oil Up Over 8% Despite Record High Inventories

Oil Up Over 8% Despite Record High Inventories

Crude oil inventories break above 500 MMBO

U.S. crude oil inventories continued to grow this week, reaching a new record high of 502.7 MMBO, according to information from the Energy Information Administration. Crude inventories rose 7.8 MMBO in the …

If Punxsutawney Phil is Right, the Natural Gas Pain will be Déjà vu All Over Again

If Punxsutawney Phil is Right, the Natural Gas Pain will be Déjà vu All Over Again

An early Spring is on its way – at least, according to America’s favorite amateur weather forecaster.

On February 2, 2016, in the small town of Punxsutawney, Pennsylvania, the folk hero groundhog emerged from his burrow and declared his annual …

Source: Sweetcrudereport.com

Oil: The 30-Year Anniversary of the 1986 Collapse

The 1980s: a rough decade for cars, rock music and oil

The 1980s were a mixed up decade. Killer British-driven rock music and groundbreaking R&B artists were giving ground to wimpy, fake artists like Milli Vanilli. The era of …

Stephens: Invest in OilService Development, Not a Recovery

Stephens: Invest in OilService Development, Not a Recovery

Buy low, sell high is perhaps the most commonly (and overly) used phrase when it comes to investing. Now that commodity prices are near the floor (depending on who you ask), investors are cherry picking stocks in hopes of capitalizing …

KLR Group Sees Markets Rebalancing in 2017

KLR Group Sees Markets Rebalancing in 2017

OPEC production expected to stabilize

A recent analyst note from KLR Group indicated that oil and gas markets could balance in 2017 as OPEC production begins to stabilize and U.S. production rolls off. Saudi Arabia’s oil production is expected to …