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Opinion: Everyone Is Guessing When It Comes To Oil Prices

Green Car Congress

Predicting and diagnosing the trajectory of oil prices has become something of a cottage industry in the past year. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible.

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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

Green Car Congress

Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. However, nearly 1.4

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Will Oil Price Collapse Because We're Out Of Room To Store It?

Green Car Reports

Oil prices have dropped precipitously over the past few months, and while that''s led to lower gas prices, it''s also creating a somewhat unusual problem. No matter how much or little oil the national economy is consuming, it''s still pumped out of the ground in massive quantities.

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What Does The Next OPEC Meeting Have In Store?

Green Car Congress

The 2 June 2016 OPEC meeting will be held amid a backdrop of oil prices near $50 per barrel, a sharp drop in Nigerian production due to sabotage, turmoil in Venezuela, Saudi Arabia operating with a new oil minister, and Iran aggressively pumping close to pre-sanction levels.

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IEA: global map of oil refining and trade to be redrawn over next 5 years

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Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform global oil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the International Energy Agency (IEA). The oil market is at a crossroads.

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GE and Sargas AS partner on gas-fired plants with carbon capture for enhanced oil recovery

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GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). Overview of the Sargas system. Source: Sargas. Click to enlarge. — Sargas’ Chief Executive Henrik Fleischer.

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.

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