RarePetro Oil & Gas 360 Publishers Note: This is an outstanding piece from Kevin about world oil costs and what the countries need to make in order to keep up with their social programs. We have been covering this topic, and Kevin has articulated the points very well. Many countries base their social and military spending almost solely on revenue
Reuters LONDON – Oil prices jumped on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30, supported by optimism about the reopening of economies and output cuts by major producers. Brent crude LCOc1 was up $2.32, or 7.1%, at $34.82 a barrel by 1344 GMT, its highest level since mid-April. U.S. West Texas Intermediate (WTI) crude
Forbes Undoubtedly, the dominant factor in the oil market for the next twelve to twenty-four months will be the progress of the pandemic, which will reduce economic activity and thus oil demand to an uncertain degree and with unpredictable timing. My take is that once inventories are no longer filling, prices will recover somewhat, with Brent reaching $35-40 and WTI
CNBC Oil prices rose on Friday and were on course for a second consecutive week of gains as more countries moved ahead with plans to relax economic and social lockdowns put in place to halt the coronavirus pandemic and as more output was shut in. U.S. West Texas Intermediate crude gained 5%, or $1.18, to trade at $24.73 per barrel, while
CNBC It’s not all about storage. Yes, the world is watching the available amount of oil storage to try to figure out when the ‘tank tops’ and there’s simply no more space to fill with unneeded crude. There are, however, two other happenings right now which are wonky but important and could send oil prices down in a hurry. First,
CNBC Oil alternated between gains and losses in a volatile trading session that at one point saw U.S. crude drop more than 20%. Traders continue to eye dwindling storage capacity worldwide, although some of the losses were offset by optimist around reopening of economies. West Texas Intermediate futures for June delivery gained 6 cents, or 0.47%, to trade at $12.84 per
Reuters LONDON – Benchmark Brent and U.S. oil futures for June delivery plunged to around two-decade lows on Tuesday, a day after U.S. May futures sank into negative territory for the first time in history as demand tumbled due to the coronavirus crisis. Brent for June delivery LCOc1, known as the front-month contract after the May futures contract expired, fell
Reuters LONDON – OPEC on Wednesday pointed to a small deficit in the oil market next year due to restraint by Saudi Arabia even before the latest supply pact with other producers takes effect, suggesting a tighter market than previously thought. In a monthly report, OPEC said demand for its crude will average 29.58 million barrels per day (bpd) next
From Bloomberg Hildebrand gained fortune buying old, conventional oil assets, bet may be timely as investors begin to sour on shale Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, he’s making his biggest bet yet — Alaska — just as shale producers run out of steam. Hildebrand’s Hilcorp Energy
From CNBC Qatar will lose its title as the world’s largest exporter of liquefied natural gas (LNG) within the next year, as Australia ramps up production on a slew of multi-billion dollar export projects. “Australia and Qatar continued to jostle for the title of the world’s largest LNG exporter over the first five months of 2019,” the Australian government said
By Tyler Losier, Energy Reporter, Oil & Gas 360 Comstock Resources appoints Johnson & Rice alum Ronald Mills as its new VP of finance and investor relations Comstock Resources Inc. (stock ticker: CRK), an independent E&P based out of Frisco, Texas, has appointed Ronald Mills as its vice president of finance and investor relations. Mills joins the company in the
From The Houston Chronicle The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring. U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in 2018, setting new production records, according to a new report from the U.S. Energy Department. The U.S. surpassed Saudi Arabia
