Author: Oilconvo News
Whatever Happened to Fracking?
Remember the good old days when experts decided that the power of the OPEC oil cartel to control oil prices had come to an end? That fracking had made the United States the swing producer, ramping up production any time prices started to rise? That the future of the world’s economy would be based… Read Full Article Here: https://www.weeklystandard.com/irwin-m-stelzer/oil-prices-are-sky-high-what-h...
Oil prices have come full circle since OPEC refused to cut output 3½ years ago
Brent crude is trading at the highest levels since Nov. 25, 2014, just before an OPEC meeting that tanked the market. Read Full Article Here: https://www.cnbc.com/2018/05/15/oil-prices-have-rebounded-since-opec-refused-to-cut-output-in-2014.html
Citi warns that surging oil prices could soon create a ‘hostile environment’ for stocks
A dramatic upswing in oil prices over recent months could soon create a “particularly hostile environment” for global investors, Citi economists warned Monday. The price of crude has risen over the past two years, from $26 in 2016 to $77 on Monday, as the balance between supply and demand has been steadily tightening. This has helped boost company’s profits too— with several oil and gas ...
All the reasons crude oil might go back to $100 a barrel
here is a risk that oil prices could hit $100 per barrel next year for the first time since 2014, according to new research from Bank of America Merrill Lynch. It’s primarily an old-fashioned case of more demand, less supply. In an interview with Bloomberg, BofAML’s head of commodities research Francisco Blanch discusses the important dynamics driving the oil markets […] Read Full Article He...
Conoco Seizes Venezuela PDVSA Products From Isla Refinery
U.S. oil major ConocoPhillips (NYSE: COP) has seized products belonging to Venezuelan state oil company PDVSA from the Isla refinery it runs on Curacao, an island official told Reuters on May 13. Conoco has won court orders allowing it to seize PDVSA assets on Caribbean islands, including Curacao, in efforts to collect on a $2 billion arbitral award linked to the 2007 nationalization of Conoc...
Bullish investors have a lock on the oil market, putting $100 a barrel in play, market veteran says
Oil expert Tom Kloza’s bearish days are behind him. Kloza, who’s known for calling the 2015 crude collapse, isn’t ruling out triple digit a barrel oil this year. “Anything that’s between $70 and $100 [a barrel] right now doesn’t represent hyperbole,” he said recently on CNBC’s “Futures Now.” The veteran oil market watcher added: “Th...
Oil prices fall in volatile trade as Trump is expected to scrap Iran nuclear deal
Oil prices fell in volatile trade on Tuesday as President Donald Trump prepared to announce his intention to restore sanctions on Iran, a move that effectively withdraws the United States from the 2015 Iran nuclear deal. Members of Congress were being informed of Trump’s decision on Tuesday, NBC News reported and CNBC later confirmed. Trump is scheduled to make his official announcement on T...
Oil prices have surged above $70—here are 4 key reasons behind the rally
Supply concerns surrounding the possible reinstatement of sanctions on Iran aren’t the only reason for the climb in U.S. benchmark oil prices above a barrel to their highest levels since late 2014. Read Full Article Here: https://www.marketwatch.com/story/oil-prices-have-surged-above-70here-are-4-key-reasons-behind-the-rally-2018-05-07
Managing millennials in the oil and gas industry
In recent years amid low commodity prices, oil and gas companies have had to reduce their headcount to lower costs, while continuing to build their talent pipeline for future success. As a result, the number of people employed in oil and gas extraction over the age of 45 fell by 19 percent between 2012 and 2017, while employees between 25 and 34 – often classified as millennials – were...
Saudi Arabia says higher oil prices won’t change the pace of its reforms
Higher oil prices won’t change the pace of Saudi Arabia’s reforms, the country’s finance minister told CNBC Wednesday. “Higher oil prices will only help reduce the deficit and build reserves, we will continue our reform,” Mohammed bin Abdullah Al-Jadaan told CNBC’s Hadley Gamble on Wednesday. […] Read Full Article Here: https://www.cnbc.com/2018/05/02/saudi-arabia-says-higher-oil-prices-...
Not Everyone Gets Why OPEC Is Determined to Stick With Cuts
OPEC and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target. The primary justification for doing so looks shaky. Read Full Article Here: https://www.bloomberg.com/news/articles/2018-05-01/opec-s-reason-for-sticking-with-the-cuts-rests-on-shaky-ground
Fund manager: $300 oil is ‘not impossible’ within a few years
Pierre Andurand, a leading oil fund manager, said that lack of investment in new production could lead to a situation where $300 per barrel oil is “not impossible” within the next few years, Bloomberg reported. Andurand, who runs oil hedge fund Andurand Capital Management LLP, wrote in a string of tweets on Sunday that companies may be less willing to risk investment in long term oil p...