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Oil Prices Rise

West Texas Intermediate rose 7.5% to $41.50 on Thursday morning, Aug 27th. Earlier in the week the price fell to $38 per barrel. The American Petroleum Institute and Energy Information Administration announced big drawdowns in crude oil inventories this week. ...

Bakken Production Not Declining

Despite predictions and low oil prices, production from the Bakken play in North Dakota has not fallen. Bakken production to date has matched 2014 production and continues to rise. John Auers, executive vice president of Turner Mason & Co. of ...

Natural Gas Prices Fall

Mild weather is contributing to reduced demand and falling prices for natural gas in the September market. “September natural gas futures contracts fell by 0.88% and settled at $2.70 per MMBtu (British thermal units in millions) on August 18, 2015.” ...

Saudi Arabia Is Losing Price War

A recent editorial notes that OPEC’s decision in November 2014 to increase oil production to put U.S. shale producers, has not worked as planned. Although many U.S. companies have been impacted, the overall shale industry in America has adapted and ...

Some U.S. Fund Managers Still Bet on Oil

While most financial experts predict the end of big oil, a few U.S. Fund Managers continue to back oil stocks. Last week oil fell below $41 per barrel a 6 ½ year low price. The FPA Capital Fund, the Towle ...

Crude Oil at 6 Year Low

On August 19, West Texas Intermediate oil futures fell over 5% to a low of $40.87. The sharp decline was a reaction to EIA’s weekly report that showed U.S. “crude inventories rose by 2.6 million barrels” the week ending Aug ...

Chevron’s Response

Chevron has issued five statements on how the corporation is responding to the current market downturn. Tighter economics in the supply chain and more efficiency in shale drilling lead the list. “Cost reductions, improved efficiency and increased recoveries have improved ...

Saudi Oil Price - Is it Backfiring?

Saudi Arabia, the world top crude oil exporter, was the prime reason for the drop in oil prices in 2014-2015. Their decision to increase production to starve out U. S. shale oil production caused the dramatic fall in oil prices. ...

OPEC Continues to Increase Output

In July 2015, OPEC production was 32.107 million barrels per day, slightly less than in June due to a cut in production from Iraq. However, Saudi Arabia's output rose by 70,000 bpd to 10.57 MMbpd in July. OPEC nations control 40% of ...

Oil Price Hits 6-month Low

Over supply and slowing demand from China caused the price of oil to hit the lowest level since March. Brent crude fell to $51.11 and U.S. crude fell 71 cents to $46.41. "Crude prices are on course for their weakest ...