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 Producers
‘More Pain Coming’ To Oil Sector: Energy Investor
By Jacob Pramuk| CNBCSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.There have been lots of recent headlines about how much money the governments of oil exporting nations will lose as a result of declining oil prices. But these countries will really just earn less money than they would from selling their product at a higher price. The price of oil has never been static and… Keep reading →
Energy Quote of the Day: ‘Lowest Price Heading Into a Thanksgiving Holiday Since 2009’
By Jared AndersonThe oil market is filled with winners and losers. When oil prices decline, refiners generally win as their feedstock is less expensive, but producers lose as they get less money for their product. This highlights the attraction of vertical integration – operating both upstream production and downstream refining – which can insulate companies from oil… Keep reading →