Iraq has had maintenance (and now other issues), Libya has plenty of turmoil, and yet OPEC’s output in October held steady, according to Platts’ monthly survey. You can read our analysis of it here.
Archive for the ‘Uncategorized’ Category
By News Desk | November 12, 2013 04:16 PM Comments (0)
By Robert Perkins | August 10, 2011 11:19 AM Comments (0)
The oil market tea leaves are clearly hard to read right now, even for a forecaster as experienced as the International Energy Agency.
In its latest monthly report, published August 11, the IEA raised its estimate of oil demand growth in 2012. If you think this is odd, given the near daily diet of gloomy economic news, then don’t worry, it looks like the IEA thinks so too.
By Jeff Mower | August 4, 2011 12:56 PM Comments (2)
A few weeks ago, a report from Citi projected the WTI/Brent spread blowing out to $40, with the two crudes blasted apart by the growing production of oil out of the Bakken and Canada, with no easy access to the world’s oil markets. But it also foresaw the widening ending around 2013, when Keystone XL and other pipelines should (might?) be online. The bottleneck at the NYMEX delivery point of Cushing, Oklahoma would be broken.
Now, leading energy economist Philip Verleger has gone a step beyond that. He too, thinks the spread could go to $40. But he thinks it could go even wider.
By Keith Tan | August 2, 2011 10:20 AM Comments (0)
US regulators late Friday issued their 25th deepwater drilling permit since the Macondo disaster, giving Statoil permission to drill an exploratory well in the Walker Ridge area of the Gulf of Mexico.
After regulators signed off on the industry’s oil spill containment systems in late February, it took the Bureau of Ocean Energy Management, Regulation and Enforcement six weeks to issue 10 permits, an average of 1.7 each week. The rate has slowed slightly over the summer to 25 permits in 22 weeks, or 1.1 each week.
By David Ruisard | August 2, 2011 07:01 AM Comments (0)
Despite the summer heat, folks in West Virginia have been very busy getting out and speaking up about natural gas drilling.
By Takeo Kumagai | July 26, 2011 05:46 PM Comments (0)
California stands poised for a crude rejuvenation of sorts, as development of the Monterey
Shale play holds a key to reversing the state’s decades-old trend of declining production.
Call it a “California revolution,” as does Phil McPherson, a senior research analyst with Global Hunter Securities.
Bakken and Eagle Ford, the all-stars of the U.S. shale crude plays, draw the headlines — and the investment dollars — but it is the Monterey that could hold the greatest potential.
By Richard Swann | July 18, 2011 06:41 AM Comments (0)
Militants in Nigeria’s southern Niger Delta have threatened to renew attacks on Africa’s biggest energy producer, even as the authorities battle daily bomb attacks blamed on Islamists in the north of the country.
By Alessandro Vitelli | July 15, 2011 08:07 AM Comments (0)
The first oil and gas major has come a-courting Australia’s nascent shale gas industry, fuelling anticipation that it might eventually enjoy the kind of relationship that had the east coast coalseam gas sector swooning last decade.
US heavyweight ConocoPhillips was this week the first suitor to show its hand, flirting with farming into a shale gas play held by local minnow New Standard Energy in Western Australia’s onshore Canning Basin.
By Robert Perkins | July 13, 2011 10:47 AM Comments (0)
Since announcing on June 23 a 60-million-barrel release of oil from emergency stocks, the IEA has attracted widespread criticism from pundits attacking the timing and motivation of the move, and even more questions over whether the amount of oil to be released will really match up to the headline figure.
So how big is a 60-million-barrel stock release? That’s not a straightforward question to answer, as it depends to a large degree on your definition of “release.”
By Jeff Mower | July 10, 2011 10:08 AM Comments (0)
There’s an often-heard market view that the Brent-WTI spread — which is now more than $20 in favor of Brent — will come back to a more narrow range in the coming months or year. It won’t go back to WTI being higher than Brent, which had been the norm for years, but it will get back to something that won’t leave people with their mouths agape.
That’s not a view held at Citi.