WTI

Domestic Oil And Gas Production

The EIA has lowered crude price forecasts in its Short-Term Energy Outlook (STEO), expecting West Texas Intermediate (WTI) crude oil prices to average $49 per barrel (b) in 2015 and $54/b in 2016. [EIA] New documents have revealed BP was part of an oil and gas lobby that successfully undermined EU renewable energy targets and subsidies… Keep reading →

Oil Prices Fall To Lowest Level In Four Months

A huge move for oil could be on tap Monday afternoon, when an unusually high level of activity in September options contracts could set the stage for a vicious rally. Options on the September crude oil futures contract expire Monday at the 2:30 p.m. ET settlement. And those derivative contracts have been very popular, with… Keep reading →

A close-up on a screen shows the last si

Oil prices will remain below the psychologically important $100-a-barrel mark until at least 2025, according to a draft report by the Organization of the Petroleum Exporting Countries (OPEC), seen byThe Wall Street Journal. In its most optimistic scenario, OPEC, which represents 12 oil-producing countries, forecast that oil will sell for around $76 per barrel in… Keep reading →

Global Issues Impact Oil Price

All eyes in the US oil market are currently focused on the small town of Cushing, Oklahoma, located 70 miles northeast of Oklahoma City. Available capacity at one of the world’s largest crude oil storage hubs is filling up fast and that has considerable market implications because Cushing is the delivery point for US benchmark… Keep reading →

Hamburg Aerial Views

U.S. crude posted its first monthly gain since June on Friday, but one expert warned that storage in the United States is filling up quickly, and that could send oil lower. “We are really close,” said Bank of America Merrill Lynch’s Francisco Blanch, noting that storage could run out by the end of March or… Keep reading →

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Bulging inventories are expected to continue to build at the biggest US oil-storage facility, putting more downward pressure on crude prices and adding to calls on the federal government to legalize exports, analysts said. The amount of oil stored at the Cushing Hub in Oklahoma rose to 48.18 million barrels in the week ending Feb.… Keep reading →

eia crude prices 09 to 14

As media reports explode about WTI crude oil futures prices closing below $60 per barrel today, there is no shortage of opinions about how far oil prices will go in the current bear market. The last major oil price crash in 2009 saw WTI prices fall to $34/bbl, before recovering fairly quickly. This time the… Keep reading →

A man looks at the electronic board show

As global benchmark oil prices on Wednesday reached lows not seen since the wake of the economic crisis in 2009, Saudi Arabian oil minister Ali al-Naimi responded to reporters’ questions with some of his own. The world’s most important oil minister held his ground reiterating that the oil market will correct itself without Opec interference.… Keep reading →

Smoke billows from a coal fired power plant in Beijing, China, last November. Photo by Kevin Frayer/Getty Images

Many of China’s coal-fired power plants are equipped with air pollution scrubbers, but in some parts of the country they are seldom used. Scrubbers take energy to run which reduces total output and makes operating the equipment more expensive. The government often sends plant operators mixed messages that prioritize economic growth (which requires maximum power… Keep reading →

Massey Energy CEO Testifies At Senate Hearing On Mine Safety

Former Massey Energy CEO Don Blankenship was criminally indicted for being responsible for the deaths of 29 coal miners in 2010 and in the interest of ensuring a fair trial U.S. District Judge Irene Berger sealed all court records. However, several major media organizations are challenging the gag order. “The news outlets could have good… Keep reading →

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