Unraveling of Iran nuclear deal could ‘propel’ oil prices skyward: analysts From CNBC A dramatic uptick in oil prices in recent weeks has partly been driven by mounting expectations that Donald Trump will soon pull out of the 2015 accord. Trump, a fervent critic of the seven-party agreement, has long threatened to walk away from the landmark deal unless its
Canada’s PSAC Cuts Canadian Drilling Activity Forecast for 2018 Without adequate pipeline capacity or forthcoming export projects for Canada’s crude oil and natural gas, there is a tough energy economy in Canada that is going to be taking an economic toll on oil and gas development activity. Canada is besieged by pipeline turmoil between provinces on top of the withdrawal of
From the Wall Street Journal/Yahoo News The highest oil prices in years are increasing expenses for companies that had grown used to low energy costs since crude’s 2014 tumble, while the turnabout is proving to be a boon for some businesses. Giant outfits from American Airlines Group Inc. to 3M Co. have warned this week about how persistent higher oil
From Bloomberg As Shale Boosts Exports, Some Push to Set Price on Coasts, but Oil Stored in Middle of America is Longtime Standard in Market Rapid increases in U.S. oil output and exports over the past two years are forcing some traders and producers to try alternative ways of pricing crude. While the market benchmark remains West Texas Intermediate crude
From Reuters NEW YORK (Reuters) – Oil prices slipped on Monday as Wall Street slid more than 1 percent and energy market investors remained wary of growing crude supply, although tensions between Saudi Arabia and Iran gave prices some support. Brent crude futures LCOc1 were down 34 cents at $65.87 a barrel by 11:35 a.m. EST (1535 GMT). U.S. West
The Federal Reserve Bank of Dallas is populated with smart people who track the comings and goings of all the factors affecting the energy industry, not just in Texas but globally. Dallas Fed SVP and Research Advisor Mine Yücel discussed oil prices and global supply conditions and economic effects of price shocks in a presentation at the EnerCom Dallas investment
IEA says the tailwinds that pushed oil prices closer to $70 per barrel are now idle From UPI Feb. 13 (UPI) — An exuberant report on the pace of U.S. crude oil production growth sent crude oil prices lower to test multi-month lows in early Tuesday trading. Oil prices staged a comeback on Monday, recovering some ground lost during last week’s
From Bloomberg Permian could boost crude output in days: Aramco’s former reservoir management chief The U.S.’s Permian Basin is looking like Saudi Arabia, with as much as 1 million barrels of spare oil capacity ready to go into production, according to Nansen Saleri, former head of reservoir management at Saudi Aramco, the world’s largest crude exporter. Oil producers in the
From Bloomberg/Arabian Business According to Goldman, the market will have re-balanced by mid-2018 OPEC’s desire to clear the global oil inventory overhang may come sooner than expected, enabling the group to exit from its production cuts early, according to Goldman Sachs Group Inc. Global stockpiles will remain below seasonal levels and continue to shrink through the second quarter of next
RBC Capital Markets analysts said while oil production in crisis-plagued Venezuela is poised to “plunge” in 2018, the extent of its losses could be far worse than investors were anticipating From CNBC An attendant sits at a closed Petroleos de Venezuela SA (PDVSA) gas station in Caracas, Venezuela, on Friday, Sept. 22, 2017. Oil traders expecting steep production losses from
Birol believes rebalance is now coming in 2H of 2018 Back in July—on the U.S.’s Independence Day—Fatih Birol, the chief of the International Energy Agency (IEA) said he believed the oil market would rebalance in the second half of 2017, “but further output increases among key producers such as Nigeria and Libya could hamper this process,” Reuters reported from Birol’s
The negative effects brought on by Hurricane Harvey are beginning to subside as oil and gas operations continue to return to pre-storm conditions. According to IHS, the port of Corpus Christi is open with no restrictions since Occidental loaded a crude tanker in the port over the weekend. Corpus Christi is a major exporting port for crude from both the
