This morning began with rumors that Saudi King Abdullah bin Abdulaziz Al Saud had died, though it quickly became clear this was not the case. However, King Abdullah has been in poor health for years and is currently hospitalized undergoing treatment for pneumonia. The Saudi Press Agency (English version) confirmed that King Abdullah was still… Keep reading →
Many large US oil producers have oil price hedges in place through the beginning of 2015 or for the entire year that are helping blunt the impact of lower oil prices. Some companies may be able to cash in on well positioned hedges and use the funds to purchase new positions that can help weather… Keep reading →
It appears the largest oil price decline since the 2008 economic and financial crises could be reaching a bottom. Maybe. Luckily we don’t have the displeasure of making oil price forecasts, like our colleague Ed Crooks the US Industry and Energy Editor at the Financial Times: Anyway, benchmark global oil futures prices rebounded today partially… Keep reading →
Saudi Arabian oil minister Ali al-Naimi has begun opening up a bit more about Opec and the kingdom’s decision to leave oil production quotas unchanged at the producer group’s meeting last month. Since that decision – and price cuts on behalf of individual Opec members – benchmark oil prices plummeted and are now down about… Keep reading →
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 →
Russian officials already in the unenviable position of dealing with the impact of Western sanctions on their national economy as reflected in a tumbling ruble – in spite of continuous Central Bank interventions – and capital outflows, now face the possibility of a recession looming in 2015, according to recent World Bank projections. Russia: Policy Uncertainty… Keep reading →
Oil market observers will take a break from their Turkey preparations this Thursday to see whether Opec producers decide to cut oil output in a bid to stabilize prices. The meeting being held in Vienna will be long over by the time folks in the US sit down to Thanksgiving dinner. But there is no… Keep reading →
Power prices for electricity generated from wind and solar technology have dramatically decreased over the past 5 years to the point where wind and solar are cheaper than gas or coal in parts of the US. In some places it also appears renewable energy sources can beat fossil fuels on price without subsidies, although renewable… Keep reading →
US Vice President Joe Biden recently addressed the Atlantic Council Energy and Economic Summit in Istanbul, Turkey where he discussed numerous topics related to European energy security. Biden began his talk with the situation in Ukraine and Russia’s use of energy as a political tool. He recognized the fact that Russia will remain a major… Keep reading →
The energy poverty issue is being drawn into stark relief in India, where the government is pursuing an aggressive coal expansion strategy as it seeks to bring electricity to the over 300 million people without. The New York Times reports air quality in cities is worse than China, rising seas will impact the country disproportionately… Keep reading →
