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Tipping Point for Oil Prices

Strong demand for world oil and a delicate political balance with the Iran nuclear talks may be the tipping point for oil prices. In the U.S. oil prices have stood at $57-62 per barrel since April. The June 30 deadline ...

Boom to Bust: North Dakota

Drilling equipment graveyards are dotting the North Dakota landscape as more and more companies have stopping drilling due to the price of oil and its uncertain future. For seven years "jobs were plentiful and businesses prospered. High-school graduates earned six-figure ...

Impact of Stored Oil Cargos

Morgan Stanley's analalyist, Adam Longson, questions the potential impact of all the oil stored on tankers in the Atlantic Basin. As the seasonal demand for oil and gasoline continues to fall, "combined with risk of new supply from Libya and ...

Interest Continues for Offshore GOM Leases

The Bureau of Ocean Energy Management (BOEM) has completed its assessment of the March 2015 Lease sale. 41.2 million acres offshore Louisiana, Mississippi and Alabama in the Gulf of Mexico Central Planning Area were up for sale in March, including ...

Explosion and Fire on Pemex Platform

Mexico's state-run oil company, Pemex, confirmed Monday that there was an accident on an oil platform at one of its major operations in the southern Gulf of Mexico, but has not described the impact. The platform, Akal-H, is part of ...

Oil Production from Eagle Ford and Bakken

Bentek energy analyst (Platts), Sami Yahya reveals that production decline from the Eagle Ford in Texas and the Bakken in North Dakota was less than 1 % in May compared to April.  Production from the Eagle Ford in May 2015 ...

Russia Sees U.S. not OPEC as the Power in the International Oil Market

In an interview on Wednesday, Igor Sechin, the head of Russia's top oil producer, Rosneft, said that the U.S. not OPEC is "calling the shots on global oil markets." The U.S. accounts for 10% of the global crude production in ...

Oil at $61 U.S.

Oil on the London market reached $64.95 for Brent futures. U. C. crude futures were up $.95 to $60.95. A strong demand and falling stockpiles have kept oil in the $60 plus price range recently. The U. S. EIA reports ...

U.S. Oil Production Rising

The U.S. EIA reported that US crude oil production rose by 24,000 bpd to 9.610 MMbpd for the week ending June 5, 2015. This is the third week of rising oil production.  Current U.S. oil production is 13% higher than ...

European Majors Endorse the Need to Address Climate Change

After years of cautious, long-term discussions and no action on the topic of climate change at a May meeting, "chief executives of BG Group (BRGXF), BP (BP), Eni, Royal Dutch Shell (RYDAF) , Statoil (STO) and France's Total (TOTB.F) drafted ...