Green Car Congress
MARCH 24, 2016
Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. That has sparked a renewed sense of optimism among oil traders.
Green Car Congress
JULY 30, 2019
The tight oil production phenomenon continued to increase the share of sweet light crudes, which rose above 20% worldwide. The surge in US production and Canada’s growth far outweighed domestic demand, generating a sharp decline in North American oil dependence. recorded in 2013-2017.
Green Car Congress
FEBRUARY 3, 2017
The Oil War Is Only Just Getting Started. It’s been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how US shale is responding to fifty-plus-dollar oil with rebounding drilling activity.
Green Car Congress
NOVEMBER 6, 2015
One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.
Green Car Congress
JANUARY 13, 2017
Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. Aside from a single week in October, the US oil industry has deployed more rigs in every week dating back to June, a remarkable run that has resulted in more than 200 fresh rigs drilling for oil.
Green Car Congress
AUGUST 25, 2015
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. percentage points.
Green Car Congress
JULY 28, 2015
Along with acquiring a controlling stake in Korea’s S-Oil, the desert kingdom is commissioning a new refinery in Jizan which would have a capacity of around 400,000 barrels per day when it begins operations in 2017. Moreover, Indian refiners are now moving away from Saudi Arabia which was previously India’s largest crude oil supplier.
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