Tag Archives: oil prices

Oil Prices Could Be Lower For Longer

The ECOreport reposts an analysis of market conditions, Oil prices could be lower for longer

Originally Posted on Oilprice.com

By Nick Cunningham

Oil prices have cratered in recent weeks, dipping to their lowest levels in more than seven months and any sense of optimism has almost entirely disappeared. All signs point to a period of “lower for longer” for oil prices, a refrain that is all too familiar to those in the industry.

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Oil Production Costs Are Higher Than 2011

The ECOreport reposts insight from the industry,  Oil Production Costs Higher Than 2011

Originally Posted on Oilprice.com

By Nick Cunningham

The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead. Oil prices have stabilized and the cost cutting measures implemented over the past three years should allow companies to turn a profit even though crude trades for about half of what it did back in 2014.

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US Shale Faces A Reality Check

The ECOreport reposts an OP-ED from the fossil fuel sector, US Shale Faces A Reality Check

Originally Posted on Oilprice.com

By Nick Cunningham

The collapse of oil prices has forced the U.S. shale industry to slash production costs. In order to improve the “breakeven” costs for the average shale well, the industry has deployed three general strategies: improving techniques and technology, such as drilling longer laterals or using more frac sand; focusing drilling on the sweet spots; and demanding lower prices from oilfield service companies. All three of those strategies led to a decline in the breakeven price for a shale wells.

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Russian Petroleum Companies During The Oil Glut

The ECOreport reposts an EIA analysis, Russian Petroleum Companies During The Oil Glut

Originally Published on the US Energy Information Administration

By Justine Barden

Russian federal revenue from oil and natural gas production has declined significantly in response to low oil prices. However, Russian oil and natural gas companies’ capital investment programs have been less affected, if at all. Russia’s two main hydrocarbon taxes are calculated by formulas that result in lower tax rates at lower crude oil prices. As oil prices fall, petroleum companies retain a larger share of revenue, but government revenues from oil and natural gas production fall even faster than prices.
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Oil Surplus Could Flip To Deficit

The ECOreport reposts the OP-ED that the present oil surplus could flip to deficit

Originally Published on Oilprce.com

By Nick Cunningham

Total global oil production could decline for the next several years in a row as scarce new sources of supply come online.

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Premier Rachel Notley’s Kitchen Table Address to Albertans

The ECOreport reposts the full text of Premier Rachel Notley’s Kitchen Table Address to Albertans

Press Release from Alberta Government

Hi. I’m Rachel Notley.

I’m speaking to you tonight from my kitchen table.

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Oil Price Declines After Export Ban Lifted

The ECOreport reposts news that the US Oil Price Declines After Export Ban Lifted, only 5% but ….

Originally Published on Oilprice.com

By Charles Kennedy of Oilprice.com

Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before, when the ban was still in place.

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Booms and Busts in the Oil Market

The ECOreport reposts an explanation of the reasons for Booms and Busts in the Oil Market, going back to 1979

Originally Published on Oilprce.com

By Nawar Alsaadi

What if I told you that there was a period in history where oil demand declined by 5 million barrels per day and non-OPEC supply increased by 5 million barrels per day, yet oil price rallied more than 50 percent? Would you believe me? If your answer is yes, then you guessed right. This was the period from 1979 to 1985; it was a period during which global oil demand declined from over 61 million barrels to 56 million barrels and non-OPEC supply increased from 32 million barrels to 37 million barrels. Yet prices rallied from $17 a barrel in 1979 to $26 a barrel in 1985, while reaching as high as $35 in 1981.

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BC Ferry Fares Will Not Rise This Spring

The ECOreport looks at an unexpected benefit from Canada’s low fuel  prices. BC Ferry fares will not rise this spring

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMMany British Columbians have been disappointed with BC Ferries  since the Liberal Government privatized the corporation in 2003. As the National Post pointed out, operating costs have “ballooned by more than $20-million a year, fares have risen by as much as 100%, and as per one recent study, the combined effect has sapped an incredible $2.3-billion out of the coastal economy.”  However there was some good news this morning. Thanks to the drop in world oil prices, BC Ferry fares will not rise this spring.

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Cutthroat Prices in the Ongoing Oil War

The ECO reposts an article about how everyone is suffering because of cutthroat prices in the ongoing oil war. 

Originally Published on Oilprce.com

By Charles Kennedy

This is a financial cold war—nothing more, nothing less.

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