This article was published by the National Energy Board on Oct. 3o, 2019. The Government of Alberta capped Alberta crude oil production at 3.56 million barrels per day (MMb/d) on 1 January 2019. This was in response to Alberta crude [Read more]
Hedge fund managers are gambling on Saudi Arabia’s determination to tighten the market and lift oil prices plus a relatively tough sanctions policy from the White House to counteract weakness from other sources. Repsol photo. [Read more]
The latest assessment estimates that there are around 350 billion tight oil barrels that are technically recoverable outside the United States (triple the amount in the United States). Anadarko photo. US tight oil production expected [Read more] [Read more]
Just ahead of the OPEC meeting on Friday, participants at the cartel’s ministerial committee meeting say they are getting closer to an agreement that would likely see OPEC output increase by about 1 million b/d. [Read more]
Norwegian oil and gas company Equinor says global oil demand could peak in the early 2020s if countries hit their climate goals or continue to grow into the 2050s in a “conflict-ridden world”. Equinor photo [Read more]
Record high US crude exports to Asia are cutting into traditional Russian and OPEC markets and the widening discount between Brent crude and WTI prices is encouraging buyers to diversify. Bloomberg News photo by Eddie [Read more]
Managers of hedge funds, concerned about a significant downside risk as rising costs cut crude demand and stimulate increased production, appear to be locking in some profits after the recent bull run in oil prices. [Read more]
John Kemp argues that if OPEC maintains its current output curbs through December, the market is set to become exceptionally tight, which will push prices and spreads towards unstable levels. Anadarko photo. By John Kemp [Read more]
Hedge fund managers increase their net long position in six important futures and options contracts linked to oil prices by 85 million barrels in the week ending March 27. Anadarko photo. Hedge fund managers bullish [Read more]
China’s new crude oil futures contract has a good chance of confounding the doubters and becoming a regional benchmark where other contracts have failed. Wall Street Journal photo. China’s oil futures fulfil commercial hedging needs, [Read more]
Brent spreads have been gradually moving from contango to backwardation since early 2015 or early 2016 as the oil market has gradually rebalanced after the slump in 2014/15. Shell photo. Brent calendar spreads the most [Read more]
In February, compliance among producers participating in the OPEC supply cut agreement hit a record high of 138 per cent, up from January’s high of 133 per cent. Anadarko photo by Mike Goldwater. OPEC supply [Read more]
If the forecasts prove correct, US shale producers will capture all or most of the predicted growth in global oil consumption this year. Repsol photo. OPEC pact participants conceding market share to US shale producers [Read more]
OPEC producers continue to match and better pledges made to cut their crude output. CNBC photo. OPEC producers cut output by 1.8 million b/d to rebalance market OPEC producers are concerned rising US shale production [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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