Tag Archives: OPEC

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.

Continue reading Oil Prices Could Be Lower For Longer

Is The US Shale Industry’s “Low Hanging Fruit” Disappearing?

The ECOreport reposts an OP-ED,  Is The US Shale Industry’s “Low Hanging Fruit” Disappearing?

Originally posted on Oilprice.com

By Nick Cunningham

The U.S. shale industry might have just received a huge windfall with the nine-month extension of the OPEC cuts. Shale output was already expected to come roaring back this year, but the extension of the cuts provides even more room in the market for shale drillers to step into.

Continue reading Is The US Shale Industry’s “Low Hanging Fruit” Disappearing?

Traders Losing Faith In OPEC

The ECOreport reposts reports of Traders Losing Faith in OPEC as market prices continues to decline, a weekly round-up

Originally Published on Oilprice.com

By Evan Kelly

Chevron (NYSE: CVX) made news when it completed its $54 billion Gorgon LNG export terminal in Australia a few weeks ago. It also made headlines this week when it announced that it temporarily shut down the terminal due to technical difficulties, less than one month after its first shipment.

Continue reading Traders Losing Faith In OPEC

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.

Continue reading Booms and Busts in the Oil Market

The State Of Oil In 2016

The ECOreport reposts an analysis of the state of Oil in 2016

Originally Published on Oilprice.com

By Nick Cunningham

Oilprice.com recently spoke with Carl Larry, Director of Oil and Gas at Frost & Sullivan, a consultancy that conducts research on oil and gas markets, to get his thoughts on the state of oil in 2016.

Continue reading The State Of Oil In 2016

Twilight of the Gods of Oil

The ECOreport reposts the story of how Big Oil’s 55-year-long dominance of our world is ending. The Twilight of the Gods of Oil

Originally Published on Energy Post

by Peter F Varadi

OPEC was initiated in 1960 by five countries and by the 1970s had 12 members who controlled the flow of oil and its price. Everybody remembers the 1973 oil crisis which ushered in a recession in the US and other countries. In the following years OPEC regularly made threats and on at least one occasion caused another crisis, in 1979. They forgot the age old saying that one should not make war with one’s customers. The customers will react somehow.

Continue reading Twilight of the Gods of Oil

Saudi Arabia’s Inroads into The European Market

Russia has been selling 70% of its’ oil to Europe, but now faces stiff competition. Saudi Arabia’s Inroads into The European Market

Originally Published on Oilprice.com

By Nick Cunningham

Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.

Continue reading Saudi Arabia’s Inroads into The European Market

A New Oil World

Originally Published on Energy Post

By Karel Beckman

We have entered a new oil world in which most of the old oil market truths can go overboard. This was the stark message given off by BP’s Chief Economist Spencer Dale in a speech he gave in London on 13 October. According to Dale, oil market realities have changed fundamentally: “We need a new set of principles reflecting the New Economics of Oil”. Karel Beckman discusses the profound implications following from Dale’s ground-breaking analysis.

Continue reading A New Oil World

Russia’s Vital Energy Industry

Threats to Russia’s energy industry have multiplied and intensified, from Europe to Central Asia & Syria. Russia’s vital energy industry,

Originally Published on Oilprice.com

By Dalan McEndree

President Putin’s recent moves in the Middle East—to shore up Bashar al-Assad’s regime in Syria through deployment of combat aircraft, equipment, and manpower and build-out of air-, naval-, and ground-force bases, and the agreement in the last week with Iran, Iraq, and Syria on intelligence and security cooperation—could contribute to Russian efforts to combat the myriad negative pressures on Russia’s vital energy industry.

Continue reading Russia’s Vital Energy Industry

Low Oil Prices Are Killing Tight Oil Companies

Originally Published on Oilkprice.com

By Art Berman

The party is over for tight oil. Despite brash statements by U.S. producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies.
Continue reading Low Oil Prices Are Killing Tight Oil Companies