Oil producers have shown reluctance to draw down supply while societies have yet to find a universal replacement for oil, which will keep prices lower for the immediate future, one energy investor said Wednesday. “I think it’s still early days and we have more pain coming,” said Gregory Beard, global head of natural resources at… Keep reading →
Oil has been leaking into the Gulf of Mexico at the site where a hurricane-triggered mudslide toppled a drilling platform off the coast of Louisiana for over a decade, according to an Associated Press investigation. “Evidence that the slow-motion spill is far worse than platform owner Taylor Energy Company has publicly reported during its secretive —… Keep reading →
Despite the ongoing Ukraine crisis, a plethora of Western sanctions and a plummeting currency, amazingly Russian energy sector returns have risen by about 22 percent. “No other country comes close. Canada, another oil- and gas-heavy nation, has seen industry equity returns rise by just 1.8 percent this year, while the MSCI USA Index is up… Keep reading →
Economists are struggling to figure out exactly what consumers are doing with the extra disposable income available to them as a result of the steep decline in energy prices. “They have not gone on a shopping spree at the mall or online. Results at many retail chains have been mixed, and some stores that are… Keep reading →
Russian President Vladimir Putin has said the precipitous decline in oil prices is not a “tragedy” for the budget of his petro-state and its people. That same day on Friday, Moody’s downgraded Russia’s debt ratings to Baa2 with a negative outlook, citing, among other things, the ongoing erosion of Russia’s foreign exchange buffers due to low oil prices. Experts… Keep reading →
