As global oil prices beat a hasty retreat from the relative highs of recent years – dropping roughly $20 per barrel in weeks – market watchers have attempted to diagnose the situation. A popular view now is that Saudi Arabia is willing to take a short-term budgetary hit from lower prices in order to force… Keep reading →
Russian and Chinese leadership signed a host of preliminary agreements yesterday covering everything from oil & gas, to nuclear power, finance, satellite navigation and high-speed rail. Russia has long been skeptical about cozying too close to China, which is both a huge market and potential business partner, but also a competitor and potential rival. It… Keep reading →
Depending upon which side of the fence one sits, major oil supply disruptions are typically considered bad luck, but in Opec’s case, recent supply disruptions have helped balance the market and support prices. “OPEC has been lucky – 3.5 million bpd of shale production has been absorbed through disruptions. They’re running out of luck,” –… Keep reading →
A mixture of supply/demand fundamentals and economic indicators are pushing down prices for global benchmark crude grade Brent. The EIA concisely describes current global crude oil market dynamics in its Today in Energy brief. [EIA] Oil market observers are buzzing with theories seeking to explain why Saudi Arabia cut official selling prices for its crude… Keep reading →
The need to reduce methane emissions from leaky valves, pipelines and compressor stations is giving rise to a new commercial industry made up of companies that specialize in methane emissions detection technology. “The industry has already seen an uptick in interest for its products and services, driven in part by the installation of oil and… Keep reading →
The Brookings Institute in Washington DC has come out in favor of lifting the U.S. ban on crude oil exports. Brookings hosted an event on Sept. 9 to unveil their new report titled “Changing Markets: Economic Opportunities from Lifting the U.S. Ban on Crude Oil Exports” written by Charles Ebinger and Heather Greenley and based… Keep reading →
The EU further ratcheted up sanctions against Russia’s oil sector targeting Gazpromneft, Transneft and Rosneft with measures that will prevent the firms from raising capital in EU member states. The economic restrictions again fall short of squeezing Russia’s natural gas industry upon which many European companies closely rely. [Wall Street Journal] European Energy Commissioner Günther… Keep reading →
Citing pressure from stakeholders and legal proceedings, the EPA said Thursday it’s moving forward with an endangerment finding regarding aircraft emissions that account for an estimated 11% of US greenhouse gas emissions. Proving pollutants from aircraft engines are a danger to the public is the first step in crafting enforceable limits to regulate those emissions.… Keep reading →
Surging US oil production is impacting trade flows and price differentials more than global supply levels and benchmark pricing according to analysis from the Oxford Institute for Energy Studies. But that could change over the longer term as backed out West African crudes play a larger role in Brent price formation. “While the USA largely… Keep reading →
Geopolitical turmoil and security threats in major producing regions are never good for oil market stability, and while global benchmark oil prices have been cruising through an historic range-bound lack of volatility for an extended period, geopolitical headwinds show no sign of abating in the near term according to Barclays’ research. The bank forecasts 2014 Brent… Keep reading →
