International sanctions against Russia introduced in 2014 turned out not to be the bogeyman they first seemed to be, and could in fact have played a key role in helping the Russian oil sector to not only handle the sharp price drop over the last year and a half, but make the industry more efficient in the long run.
Archive for the ‘oil fundamentals’ Category
By Rosemary Griffin | February 8, 2016 12:01 AM Comments (2)
By Ronald Buchanan | February 1, 2016 08:41 AM Comments (0)
Falling crude oil production, falling refined product output and falling income have led many to believe that the sky is falling on Mexico’s state-owned oil company Pemex.
The perilous situation for Mexico’s energy industry — and Pemex is Mexico’s energy industry — has not been lost on officials who are trying to reform the company and, by extension, the nation’s energy landscape.
By Brian Scheid | January 26, 2016 12:01 AM Comments (0)
When North Dakota oil production broke above 1 million b/d for the first time in April 2014, many expected that the 2 million b/d threshold would be breached in relatively short order.
With WTI spot prices averaging over $100/b in the months that followed, some even speculated that 2 million b/d may be too modest of a goal for a state in the throes of a shale oil renaissance.
But prices, and those expectations, have come crashing down.
By Margaret McQuaile | January 25, 2016 12:01 AM Comments (2)
Iran’s speed of re-integration into the global oil market is a million b/d question mark hanging over the industry.
How much additional oil will flow from Iran will depend on how quickly Tehran can ramp up after several years that effectively shut in a chunk of its production and how fast it can make new inroads into an already crowded market.
By News Desk | January 19, 2016 09:45 AM Comments (1)
This weekend the world witnessed what has been hailed as the most significant diplomatic breakthrough since the collapse of the Soviet Union: the lifting of nuclear sanctions against Iran.
The lifting of sanctions, which came late Saturday, followed confirmation from the UN’s International Atomic Energy Agency that Tehran had fulfilled its obligations under an agreement last summer to limit its nuclear program.
By Elizabeth Bassett | December 29, 2015 11:56 AM Comments (1)
This is the final iteration of The Oil Big Five for 2015, and it comes at the end of the month because December had so much oil news it was hard to find a break during the month to look ahead. But as per usual, we’re here to highlight a few key trends or news items that we feel are worth watching, for both the short amount of time left in 2015 as well as into the new year.
By Matt Kohlman | December 18, 2015 11:00 AM Comments (1)
Big-time refined product traders are now shopping at the dollar store for their diesel. Platts assessed the spot market of benchmark US Gulf Coast ultra low sulfur diesel at exactly $1/gal on Wednesday, Dec. 16.
Not $1.0014/gal. Not 99.93 cents/gal. Not $1.0001/gal. Nope. $1/gal on the mark.
By Margaret McQuaile | November 26, 2015 09:51 AM Comments (0)
Never say never.
With this in mind, it would probably be foolish to rule out some kind of deal between OPEC and non-OPEC producers to manage supply.
But, right now, there’s nothing to suggest that any such pact is even a remote possibility, and few OPEC watchers expect the oil producer group to do anything other than rubber-stamp current output policy at talks in Vienna next week.
By Ross McCracken | November 2, 2015 04:38 PM Comments (1)
By Robert Perkins | October 28, 2015 12:01 AM Comments (1)
Aside from a brief blip, oil prices have remained stubbornly below $50/b in recent weeks despite fresh concern over global demand and rising geopolitical tensions. On the supply side, the market’s gaze has gravitated to that most closely watched of oil market variables — the response of US shale output to weaker oil prices.