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 →
By Brad Quick A handful of counties in North Dakota are churning out more oil and gas than the entire state of Alaska. Welcome to the Bakken, the jewel of The Rough Rider State. But a look beyond the drillers working the state’s Bakken field reveals many players who see another opportunity: building North Dakota’s infrastructure. In May,… Keep reading →
The U.S. ranks 5th out of 13 heavily oil-dependent countries that are highly vulnerable to global oil price fluctuations. On October 14, 2013, Securing America’s Future Energy and Roubini Global Economics released the Oil Security Index, which assesses the relative oil security of 13 countries including the U.S. The report emphasizes the need for active measures… Keep reading →
“Peak oil” is a term that’s been bandied about for decades, but almost always in reference to supply, not demand. The Economist is calling oil “yesterday’s fuel”. “The world’s thirst for oil could be nearing a peak. That is bad news for producers, excellent for everyone else.” [Economist] There’s a nice (and very thorough) piece… Keep reading →
By Javier E. David While some observers are warning that surging shale development and new natural gas discoveries could spawn a potential glut, most energy market watchers say strong demand makes natgas oversupply a remote prospect. Natural gas development is growing by leaps and bounds, especially in the United States. In the throes of what… Keep reading →
The possible permanent closure of three eastern Pennsylvania refineries would make the region more dependent on outside sources for petroleum products and force marketers to overhaul supply chains for gasoline, diesel heating oil, jet fuel and lubricants, state legislators heard on Monday.
But closure isn’t likely to have a big effect on prices or supply on the US East Coast because alternative sources such as the Gulf Coast, higher overseas imports and increased pipeline shipments from the Midwest will be found, according to a new study presented to lawmakers. Keep reading →
