HOME/ABOUT  Prayer  SCOTUS  ProLife  BangList  Aliens  StatesRights  ConventionOfStates  WOT  HomosexualAgenda  GlobalWarming  Corruption  Taxes  Congress  Fraud  MediaBias  GovtAbuse  Tyranny  Obama  ObamaCare  Elections  Polls  Debates  Trump  Carson  Cruz  Bush  OPSEC  Benghazi  InfoSec  BigBrother  IRS  Scandals  TalkRadio  TeaParty  FreeperBookClub  HTMLSandbox  FReeperEd  FReepathon  CopyrightList  Copyright/DMCA Notice 

Please keep those donations coming in, folks. Our 1st quarter FReepathon is off to a great start and we have a chance of getting 'er done early! Thank you all very much!!

Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Free Republic 1st Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $41,340
46%  
Woo hoo!! And the first 46% is in!! Thank you all very much!! God bless.

Keyword: crude

Brevity: Headers | « Text »
  • Gas Drops Below $1.50 in Some Areas, and We Haven't Hit Bottom Yet

    02/02/2016 7:28:32 AM PST · by thackney · 48 replies
    NBC News ^ | FEB 2 2016 | MARTHA C. WHITE
    American drivers are now enjoying gasoline prices that haven't been this low since January 2009. Data from the AAA shows that the average annual price for a gallon of gas has been below $2 a gallon for about a month now. Just within the past week, the national average gas price ticked below $1.80 for a gallon of regular gas, a drop of 20 cents just since the beginning of 2016. "I think you have probably another three to four weeks of prices in this area - I think we could drop another nickel or so," said Denton Cinquegrana, chief...
  • After 40-year ban, U.S. starts exporting crude oil

    01/31/2016 3:19:31 AM PST · by Enlightened1 · 46 replies
    CNN ^ | 01/29/16 | Matt Egan
    America is wasting little time getting back into the oil exporting business. Just weeks after Congress lifted a 40-year ban on exporting oil, the first shipments of the black stuff left U.S. ports for Europe. The first freely-traded shipments of U.S. crude are symbolic of the country's newfound role as a leading producer of oil. America's entry into the world market can also be viewed with relief by those worried about potential supply disruptions. After all, many big oil producers are located in volatile parts of the world susceptible to geopolitical shocks. "The fact that producers have free access to...
  • LiLimit Crude Imports: Perhaps Eisenhower Was On To Something

    01/25/2016 9:07:12 PM PST · by Rabin · 29 replies
    rigzone ^ | Monday, January 25, 2016 | Deon Daugherty
    So what would happen if a modern-day president took the Eisenhower model and, ceased crude imports. The price shock to the energy markets could take domestic crude to $140 before it broke the back of our World Crude Oil Cartel.
  • Citigroup: Oil Is The “Trade Of The Year”

    01/22/2016 10:31:17 AM PST · by bananaman22 · 2 replies
    Oilprice.com ^ | 22-01-2016 | citi
    Oil prices surged on Thursday and Friday, staging a 14 percent rally to push oil back above $31 per barrel. A combination of factors worked together to stop the bleeding for WTI and Brent. Hopes rose for fresh monetary stimulus from the European Central Bank on Thursday when its President Mario Draghi hinted that more action could be forthcoming. Also, Japan’s central bank could also engage in QE-style asset purchasing to boost the economy. At the same time, a monster snow storm hitting the east coast of the U.S. brought speculation that colder weather could boost demand.
  • Oil Sold for -$0.50 per Barrel. A Negative Price!

    01/18/2016 3:54:46 PM PST · by bananaman22 · 18 replies
    Oilprice.com ^ | 18-01-2016 | northdakoterrrr
    The oil markets are on edge with oil sinking into the $20s per barrel. And last week we reported on one place where oil is already trading in the single-digits. Canada’s bitumen is selling for just $8 per barrel. But even that rock bottom price is higher than what one oil seller earned for a shipment recently. In a bizarre turn of events, Bloomberg reported that Flint Hill Resources, a refining unit owned by the Koch brothers, said that they would purchase sour crude from North Dakota for $-0.50 per barrel. That’s right: a negative price. Oil has become so...
  • Negative Oil Prices Arrive: Koch Brothers' Refinery "Pays" -$0.50 For North Dakota Crude

    01/18/2016 10:55:19 AM PST · by Freelance Warrior · 34 replies
    ZeroHedge ^ | 01/18/2016 | Tyler Durden
    The Koch brothers are actually charging $0.50/bbl to take low grade oil at their Flint Hills Resources refining arm./ North Dakota Sour is a high-sulfur grade of crude and "is a small portion of the state's production, with less than 15,000 barrels a day coming out of the ground," Bloomberg notes, citing John Auers, executive vice president at Turner Mason & Co. in Dallas.
  • Four Oil Tanks Now on Fire at Libyan Ports after Clashes

    01/06/2016 8:56:55 PM PST · by fella · 4 replies
    Rig Zone ^ | 6 JAN 2016 | Ayman al-Warfalli
    BENGHAZI, Libya, Jan 6 (Reuters) – Fires caused by clashes between Islamic State militants and guards near Libya's biggest oil ports have spread to four oil storage tanks that were still burning on Wednesday, a guards spokesman said. Ali al-Hassi said the Petroleum Facilities Guards were in control of Es Sider and Ras Lanuf ports, but that skirmishes continued. At least nine guards were killed and more than 40 injured in fighting around the perimeter of the area on Monday and Tuesday. Hassi said guards had recovered bodies of 30 Islamic State fighters, and had also captured two military tanks...
  • Professional Pandering -- Desperate Cruz, Dependent on Iowa, Flip-Flops on Ethanol Subsidies...

    01/06/2016 5:30:43 PM PST · by Greetings_Puny_Humans · 330 replies
    Conservative Treehouse ^ | 1/06/2015 | Sundance
    Professional Pandering -- Desperate Cruz, Dependent on Iowa, Flip-Flops on Ethanol Subsidies... Posted on January 6, 2016 by sundance In what can only be noted as "typically Cruzian" the Senator who sponsored the "Renewable Fuel Standard Repeal Act", which would have immediately repealed the ethanol mandate, has now reversed course and claims to support continued Iowa Corn Subsidies. The pandering flip-flop becomes "brutally Cruzian" when the campaign for Ted Cruz denies the current change in position by pointing to a prior change in position; saying, in effect: when Senator Ted Cruz decided to run for President he changed his position,...
  • Senator Ted Cruz listens to Iowa farmers, supports Renewable Fuel Standard (Ethanol) through 2022

    01/06/2016 11:23:15 AM PST · by springwater13 · 291 replies
    SIOUX CENTER - During a bus tour stop in Sioux Center, Iowa last night, Senator Ted Cruz expressed support for the Renewable Fuel Standard (RFS) through 2022. Responding to a question from an ethanol investor from Iowa about whether he would allow the landmark energy program to continue through its current expiration in 2022, Sen. Cruz responded by expressing support for the RFS through 2022. Senator Cruz also expressed passionate support for breaking through the so-called "blendwall." That "blendwall" makes it illegal for ethanol to expand its market penetration, and I intend to eliminate the EPA blendwall to get rid...
  • Saudi Arabia vs Iran: The oil war that isn't coming

    01/05/2016 4:46:00 AM PST · by thackney · 3 replies
    CNBC ^ | 1/4/2016 | Everett Rosenfeld
    Armchair analysts have been predicting an oil price war between Saudi Arabia and Iran for a while now, and escalating tensions between the countries would seem to portend a major market disruption. But that war may never come. Saudi Arabia announced Monday that it will sever all commercial ties with Iran, a day after the kingdom said it would cut diplomatic relations with Iran. Protesters stormed the Saudi embassy in Tehran earlier Sunday, and the country's supreme leader, Ayatollah Ali Khamenei, predicted "divine vengeance" for the Saudi execution of a major Shiite cleric. Saudi Arabia is predominantly Sunni and home...
  • BP’s CEO Finally Sees Oil Prices Bottoming Out

    01/05/2016 11:59:31 AM PST · by bananaman22 · 5 replies
    Oilprice.com ^ | 05-01-2015 | dudley
    Since last summer, Bob Dudley, the CEO of the British oil giant BP, has been cautioning that he expects oil prices to stay “lower for longer.” Now he believes he’s determined how much longer those prices may decline, and when they may start rising again. “A low point could be in the first quarter [of 2016],” Dudley said in an interview broadcast Saturday by the BBC. “But 2016’s third and fourth quarters could witness a more natural balance between supply and demand, after which stock levels could start to wear off.”
  • Iran’s Oil Revival Springs a Leak

    12/03/2015 4:48:40 AM PST · by thackney · 2 replies
    Wall Street Journal ^ | Dec. 2, 2015 | BENOÎT FAUCON
    Iran's energy industry is plagued by a host of challenges--from leaking pipelines to skeptical western oil investors--as it attempts to throttle up crude output next year when western sanctions are expected to be lifted. Iran's aging infrastructure is in disrepair after several years without the expertise of the world's largest oil companies, western and Iranian officials say. The country is likely to be selling as much as 500,000 new barrels of oil into an already saturated market for crude exports, setting up logistical hurdles. And the Islamic Republic is more divided politically over the return of western companies than expected,...
  • How Turkey Exports ISIS Oil To The World: The Scientific Evidence

    11/28/2015 8:38:21 AM PST · by amorphous · 4 replies
    Zero Hedge ^ | 28 Nov 2015 | Tyler
    Over the course of the last four or so weeks, the media has paid quite a bit of attention to Islamic State’s lucrative trade in "stolen" crude. On November 16, in a highly publicized effort, US warplanes destroyed 116 ISIS oil trucks in Syria. 45 minutes prior, leaflets were dropped advising drivers (who Washington is absolutely sure are not ISIS members themselves) to "get out of [their] trucks and run away." The peculiar thing about the US strikes is that it took The Pentagon nearly 14 months to figure out that the most effective way to cripple Islamic State’s oil...
  • Goldman eyes $20 oil as glut overwhelms storage sites

    11/20/2015 4:46:01 AM PST · by GonzoII · 25 replies
    The Telegraph ^ | GMT 19 Nov 2015 | Ambrose Evans-Pritchard
    "The world is floating in oil. The numbers we are facing now are dreadful," said David Hufton from PVM Group The world is running out of storage facilities for surging supplies of oil and may soon exhaust tanker space offshore, raising the chances of a violent plunge in crude prices over coming weeks, experts have warned. Goldman Sachs told clients that the increasing glut of oil on the global market has combined with mild weather from a freak El Nino this winter. The twin-effect could send prices plummeting to $20 a barrel, the so-called 'cash cost' that forces drillers to...
  • Obama Buddy Buffett Doubles BNDF investment due to Keystone Decision

    11/09/2015 7:44:39 AM PST · by raptor22 · 12 replies
    American Thinker ^ | November 9, 2015 | Daniel John Sobieski
    When President Obama announced he was killing the Keystone XL pipeline, he said he was agreeing with the State Department’s assessment that the pipeline from Canada “would not serve the national interests of the United States.” The fact is that it would not have benefitted the personal financial interests of friend and economic mentor, Warren Buffett, who can rest assured that oil from Canada and the nearby Bakken formation in North Dakota will continue to be transported by a railroad he owns. As Investor’s Business Daily noted in a 2011 editorial: Killing the Keystone XL pipeline may help one of...
  • COMPILATION: The Jacki Daily Show: Crude Oil Exports and their importance to America

    11/05/2015 5:26:45 PM PST · by RaceBannon · 1 replies
    The Jacki Daily Show ^ | The Jacki Daily Show
    The host of the Jacki Daily show has had an impressive career in energy, law, and politics. Most recently, Jacki served as General Counsel to an engineering firm specializing in energy, national security and environmental cleanup. Previously, she served many years as legal counsel on Capitol Hill to the Chairman of the Subcommittee on the Constitution and the former Ranking Member of the Commercial and Administrative Law Subcommittee, advising on the oversight of federal agencies. Prior to her career in Washington, she worked as a corporate litigator, and as an Assistant Vice President for a national bank. She entered...
  • Saudi Arabia Oil Update 2015: Russia Beats OPEC Giant In Crude Sales To China

    10/23/2015 6:40:54 AM PDT · by Enlightened1 · 4 replies
    International Business Times ^ | 10/21/15 | Jess McHugh
    Russia topped Saudi Arabia in sales of crude oil to China for the second time this year, Reuters reported Wednesday. But Saudi Arabia will still finish the year with more sales to China than Russia overall, as the two producers continue to compete for dominance in the emerging market. China, with the largest economy in Asia and the second-largest in the world, is also the world's largest importer of crude oil, surpassing the United States in May. China bought a record 4.04 million metric tons, or approximately 988,000 barrels daily, from Russia in September, Bloomberg reported, up 42 percent from...
  • Future Of Iraqs Oil Industry Under Threat

    10/22/2015 9:32:08 AM PDT · by bananaman22 · 1 replies
    Oilprice.com ^ | 22-10-2015 | Ibrahim
    Iraq is one of the major reasons why OPEC has been able to increase oil production over the past year, even as oil prices have dropped to six-year lows. The war-torn country averaged 3.2 million barrels per day (mb/d) of production in 2014. But despite the onslaught from ISIS and the collapse in oil prices, Iraq succeeded in achieving steady gains in output, surpassing 4.1 mbd in September. Along with Saudi Arabias increase of around 600,000 barrels per day since 2014, Iraq has accounted for a majority of OPECs production gains over the past year, allowing the cartel to produce...
  • Crude Oil Exports and our economy: Jacki Daily Show

    10/21/2015 2:46:42 PM PDT · by RaceBannon · 2 replies
    The Jacki Daily Show ^ | 8/2/2015 | The Jacki Daily Show
    On this week's Jacki Daily Show, Jacki talks with Toby Mack President of the Energy Equipment and Infrastructure Alliance, explains that lifting the crude export ban would reduce the debt, reduce the trade deficit, create jobs, lower gasoline prices and spur investment. She also talks with Greg Walcher, author of the book Smoking Them Out and he is Founder and President of the Natural Resources Group, a nationwide ad-hoc coalition of consultants with natural resources expertise. She is also joined by Coleman Alderson to discuss his new book Mountain Whispers: Days Without Sun. Toby Mack: Greg Walcher with the Heritage...
  • Current Oil Price Rally Will Fizzle Out Say Analysts

    10/15/2015 1:49:26 PM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 15-10-2015 | Nick Cunningham
    There is still very little clarity on the state of the oil markets, and the recent rally did nothing to dispel that fact. Still there is a bit of consensus around the notion that the rally will be short-lived. Just a few short weeks ago it appeared that oil had hit bottom. After briefly dipping below $40 per barrel, speculators began taking more bullish positions on oil, and prices leveled off in the mid-$40s for the month of September. As more and more data trickled in, pointing to a sharper slowdown in U.S. oil production, markets grew more confident that...
  • Is This The Bottom For Oil Prices?

    09/22/2015 9:21:11 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 22-09-2015 | They Hate Us Cause They Anus
    The worst could be over for oil prices, if the whims of a growing number of speculators are anything to go by. Hedge funds are taking their most bullish position on crude oil prices in two months. New data from the Commodity Futures Trading Commission shows that net-long positions on crude oil increased by 14,821 contracts, reaching a two-month high of 147,678 positions. These swings in investor sentiment can move the price of crude. In recent weeks, we had seen an inordinately pessimistic view of crude oil, with short positions hitting their highest levels in years. Short betting pushed WTI...
  • Dr. Ireland explains the benefits of lifting the decades-old ban on exporting U.S. crude oil.

    09/21/2015 2:39:57 AM PDT · by RaceBannon · 10 replies
    The Jacki Daily Show ^ | 8/19/14 | Dr Ed Ireland
    In Segment 1, Dr. Ireland explains the benefits of lifting the decades-old ban on exporting U.S. crude oil. In Segment 2, Dr. Ireland explains the benefits of building the Keystone XL pipeline.
  • Why we must lift the ban on exporting crude oil

    09/17/2015 5:04:27 PM PDT · by RaceBannon · 2 replies
    The Jacki Daily Show ^ | 7/6/2015 | Jacki Pick
    Economist Ed Ireland who Chairs the Barnett Shale Energy Education Council shares his expertise on hydraulic fracturing or fracking and why we should not fear that it is possible for the U.S. to run short on energy if we export. Exports would be a boom for job creation and wealth creation for the middle class.
  • Oil Price Increase Will Not Come Fast Enough To Save Alberta

    09/14/2015 2:44:09 PM PDT · by bananaman22 · 14 replies
    Oilprice.com ^ | 14-09-2015 | tarsands
    Theres just no cash. Thats the Coles Notes from a senior banker describing the book of oil service loans he manages for one of Albertas leading lenders. Theres simply not enough cash flow to support current levels of debt. Bankers and borrowers have kicked the can down the road about as far as they can as more oilfield service (OFS) and exploration and production (E&P) companies default on their loans and seek more relief on lending covenants. While a significant oil price increase to lift all the sinking boats will surely come, it wont happen soon enough. More of the...
  • The Mirage Of An Iranian Oil Bonanza

    09/03/2015 8:56:31 AM PDT · by bananaman22 · 1 replies
    Oilprice.com ^ | 03-09-2015 | Willem van Oranje
    The P5+1 agreement with Iran on Irans nuclear program has generated (sometimes fevered) anticipation of an Iranian oil bonanza at the end of the nuclear agreement rainbow, both in terms of the increase in Iranian crude output and the business opportunities for foreign firms in driving the increase. The anticipation comes from several sources. Irans crude potential is one. According to the U.S. Energy Information Administration (EIA), Irans proven crude reserves, 158 billion barrels, are the worlds fourth largest (and among the cheapest to produce at $8-to-$17/barrel, depending on the source,). Iranian public statements expressing determination to increase crude output...
  • Why Did Oil Prices Just Jump By 27 Percent In 3 Days?

    09/02/2015 9:28:45 AM PDT · by bananaman22 · 13 replies
    Oilprice.com ^ | 02-09-2015 | volatile
    Oil prices have posted their strongest rally in years, jumping an astounding 27 percent in the last three trading days of August. While much of the recent price movement defies reason and is enormously magnified by speculative movements by traders to take and cover their bets on oil, still, there were a series of rumors, events, and fresh data that helped contribute to the spike. For example, on August 31, the oil markets woke up to the news that Russian President Vladimir Putin will meet his counterpart from Venezuela to discuss possible mutual steps to stabilize oil prices. The meeting...
  • OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

    08/27/2015 4:24:05 PM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 27-08-2015 | Endree
    Despite low oil prices, Saudi Arabia is maintaining its investment in its oil industry. Saudi Aramco Chairman Khalid Al-Falih indicated in March that Saudi Aramco would not cut investment. James Crandell, a Cowen & Co. oil analyst cited in this article, who has tracked oil companies budgets for many years, estimates that Aramco and its Kuwaiti and UAE counterparts will increase their investment in oil exploration and production in 2015 by 4.5 percent to $38.1 billion. (If proportional to output, the Saudi share would be $24.5 billion). On its website, the Saudi Arabian General Investment Authority (SAGIA) identifies Saudi Arabia...
  • Saudis Could Face An Open Revolt At Next OPEC Meeting

    08/20/2015 4:22:13 PM PDT · by bananaman22 · 7 replies
    Oilprice.com ^ | OPEC collapse
    OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabias role of guarantor of $100+/bbl oil. Despite the intense financial and economic pain this decision has inflicted on Saudi Arabia, its fellow OPEC members, and other oil producers, the Saudis have given no indication they plan to alter course. In fact, Saudis have downplayed the impact of lower prices on their country, asserting that the kingdom has the financial...
  • Crude oil is getting smoked (WTI bouncing below $43!)

    08/11/2015 10:30:17 AM PDT · by tcrlaf · 42 replies
    Business Insider ^ | 8-11-2015 | Akin Oyedele
    There goes crude oil again. On Tuesday morning, West Texas Intermediate crude futures in New York fell 4% to as low as $43.03 per barrel. Brent crude, the international benchmark, was also lower, near $50 per barrel, after on Monday having its biggest one-day jump in a month. We got OPEC's latest monthly production numbers Tuesday morning, and they showed that production surged to a three-year high in July. The 12-member oil cartel has overshot its production target for at least a year in a bid to maintain its market share. After what seemed like a recovery in prices around...
  • Bullish Bets On Oil Go Sour

    08/10/2015 8:43:45 AM PDT · by bananaman22 · 14 replies
    Oilprice.com ^ | 10-08-2015 | oil bear
    Prominent hedge fund manager Andy Hall got burned in July after oil prices crashed. Heading up Astenbeck Capital Management, Hall has made very large bets that oil prices would rebound, citing the unsustainably low oil prices and the rise of demand across the world, particularly in Asia. But July was a brutal month for him. His hedge fund lost 17 percent of its value, or about $500 million. Bloomberg profiled him and another notable trader, Pierre Andurand, who has taken the opposite position, arguing that oil prices will remain low for the next two years. And while Halls hedge fund...
  • The Saudi Oil Price War Is Backfiring

    08/07/2015 10:49:54 AM PDT · by bananaman22 · 23 replies
    Oilprice.com ^ | 08-07-2015 | Wet Towel
    Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. The Saudis have kept their production levels high since last year in order to drive other players (especially U.S. shale drillers) out of business. Equally clear is the fact that this strategy of maintaining the glut and driving out rivals hasnt worked so far. Even when we look at the refining sector, we see that...
  • Former Exxon President On Mission To Clean Up Oil Sands

    07/30/2015 3:59:22 PM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 30-07-2015 | utah
    Canada has given oil sands a dirty reputation, but a breakthrough, commercially viable technology has caught the eye of a former Exxon Mobil president who is putting it to use to clean up Utahs billions of barrels of oil sands. Imagine extracting high-quality oil out of the estimated 32 billion barrels buried in Utahs oil sands, without creating the toxic wastelands that have resulted from oil sands projects in Western Canada. And imagine doing it at a cost that can still turn a profit in todays oil price slump. That would be highly enticing to some of the large operators...
  • This Is Why A Serious Decline In U.S Shale Plays Is Not Far Away

    07/24/2015 11:13:14 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 24-07-2015 | KingKurt
    The plunge in oil prices last year led many to say that a decline in U.S. oil production wouldn't be far behind. This was because almost all the growth in U.S. production in recent years had come from high-cost tight oil deposits which could not be profitable at these new lower oil prices. These wells were also known to have production declines that averaged 40 percent per year. Overall U.S. production, however, confounded the conventional logic and continued to rise--until early June when it stalled and then dropped slightly. Anyone who understood that U.S. drillers in shale plays had large...
  • Shale Industry May Need A Complete Rethink To Survive

    07/16/2015 11:30:32 AM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 16-07-2015 | shale overhaul
    Shale reservoirs have become an important part of North American oil and gas supply and their development has begun a new era of oil and gas production worldwide. Advances in well drilling and completion technologies supported the rapid development of shale resources which contributed to the almost overwhelming success of U.S. shale in recent years. Globally, Argentinas Neuqun Basin and Chinas Sichuan Basin are the two front-runners to emulate the successes of the United States, with Poland, Algeria, Australia, Colombia, Russia, and Mexico still in earlier phases of exploration and evaluation, while Saudi Arabia also has plans for domestic shale...
  • OPEC, Get Ready For The Second U.S. Oil Boom

    07/14/2015 9:46:17 AM PDT · by bananaman22 · 15 replies
    Oilprice.com ^ | 14-07-2015 | shale 2.0
    What OPEC countries fear most is a follow-up technological revolution that will lead to a second oil boom in the U.S., and that fear is now being realized. A technological revolution spurred the U.S. oil boom that resulted in the greatest increase in domestic oil production in a century, and while that has stuttered in the face of a major oil price slump and an OPEC campaign to maintain a grip on market share, the American response could be another technological revolution that demonstrates that the first one was merely an impressive embryonic experiment. Its not only about shale nowits...
  • Why We Should Get Used To Low Oil Prices

    07/13/2015 11:03:11 AM PDT · by bananaman22 · 34 replies
    Oilprice.com ^ | 13-07-2015 | ABM
    The news from the IEA is not good. World oil demand growth appears to have peaked in 1Q15 at 1.8 mb/d and will continue to ease throughout the rest of this year and into next as temporary support fades. I dont have great faith in forecasts but the data shows declining demand growth from late 2010 to the 2nd quarter of this year The weak global economy is the cause of low demand growth. The current debt crisis Greece and collapsing stock markets in China are the latest alarm signals.
  • Now Is A Good Time To Pick Up Some Oil Stocks

    07/08/2015 10:38:15 AM PDT · by bananaman22 · 8 replies
    Oilprice.com ^ | 08-07-2015 | MT
    Oils oversized reaction to negative news from Greece and China on Monday should really have come as no surprise with the value of 20/20 hindsight. I have been writing for some time now that the commodity would break out of its narrowing range and that the more times it failed to break the resistance point at $62, the more likely it was that that break would be in a downward direction. It is logical that the longer that it took, the more violent that break would be. Traders were looking for excuses to sell and last weekend gave them plenty...
  • Why The Oil Rally May Well Be Over

    06/17/2015 10:58:45 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 17-06-2015 | Pricepoints
    The oil markets could be about to enter another round of soft prices. The OPEC decision on June 5 to leave its collective target unchanged was widely expected. As a result, oil prices barely flinched. But there are other reasons to think that oil prices could see a bit of a downturn in the coming weeks. First, OPEC revealed in its latest monthly oil report that it is still producing well above its stated 30 million barrel per day target. Saudi Arabias output inched up another 25,000 barrels per day in May from the month before in a further sign...
  • Forget the Noise: Oil Prices Wont Crash Again

    06/03/2015 7:54:30 AM PDT · by bananaman22 · 6 replies
    Oilprice.com ^ | 06-03-2015 | Dan Doyle
    Oil rising to $60/bbl is displeasing some people, particularly the shorts. Some of the more extreme those calling for oil in the $20s have wisely fallen silent. Others, like Goldman Sachs, who a few months ago had set their flag in the 30s, have unfortunately not gone so silent. They recently moved their flag into the 40s but they continue to talk a lot. A better strategy though one that would require some humility would be to stop talking and listen. Recent and compounding data will soon wash away the walls of worry erected by the experts....
  • The Evolution Of The Oil Weapon

    06/01/2015 10:30:49 AM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 01-06-2015 | Oilwarfare
    In the age of derivatives, swaps, and electronic money transfers, a new form of warfare has emerged: financial warfare. Recently, the US has passed sanctions on countries such as Syria, Venezuela, and North Korea , but the majority of energy related sanctions passed have been targeted at Iran and Russia. An estimated 68 percent of Russias government revenue is derived from oil and gas exports, while 80 percent of Irans revenue comes from oil exports. That presents a very large target for the use of financial weapons.
  • The Oil Glut is Not Real

    05/27/2015 11:37:06 AM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 27-05-22015 | No Glut
    As it appears GDP will be seasonally adjusted again, I find myself wondering just one thing: why? Earlier GDP figures showed the US economy on the brink of recession for the first two quarters of this year. Now, with more fudging going on, who knows what it will show. The government appears to be following the Hollywood mantra: if you can bend perception enough, it will become reality. Look no further than the Federal Reserve, which continues to raise expectations of higher interest rates in the second half of this year, in hopes of inducing faster growth.
  • Top 4 Oil Companies For Dividend Investors

    05/26/2015 1:52:29 PM PDT · by bananaman22 · 6 replies
    Oilprice.com ^ | 26-05-2015 | chase
    Investing in the energy industry right now can be scary. On the one hand, oil prices have been extremely volatile and look likely to stay that way. On the other hand, while clean energy, especially wind power, is growing rapidly, valuations are astronomical and, for income-focused investors there are few good options. With that in mind, investors looking for income in energy have little choice but to turn to the safest conventional energy play available; oil majors. Companies like ExxonMobil and Royal Dutch Shell have been around for decades, so regardless of what happens to oil prices, these firms have...
  • Oil Markets Cant Ignore The Fundamentals Forever

    05/25/2015 11:59:22 AM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 25-5-2015 | Arthur
    Storage withdrawals and falling rig count have been the main sources of hope that U.S. tight oil production will fall and that oil prices will rebound. That hope is fading as it is now clear that recent withdrawals from U.S. crude oil storage are because of price, not falling supply, and that the drop in rig count has stalled. Figure 1 below shows the relationship between U.S. crude oil storage inventory and WTI price. The thinking around recent withdrawals from storage is that this reflects depleting supply. The data, however, reflects that traders were storing crude oil during the price...
  • Goldman Sachs Predicting $45 Oil By October

    05/20/2015 11:34:40 AM PDT · by bananaman22 · 8 replies
    Oilprice.com ^ | 20-05-2015 | pricingpoints
    Could oil prices be in for yet another decline? Oil prices have rebounded with surprising speed in recent weeks, with WTI prices bouncing by more than a third from March lows. There are good reasons for this. Rig counts are down by nearly 1,000 (or nearly 60 percent) since hitting a high in October 2014. Spending on some of the worlds largest projects has been cut by a combined $129 billion, a figure that could balloon to $200 billion by 2016. The spending and drilling contraction is finally leading to some small production declines.
  • U.S. Could Go All Out On Offshore Exploration

    05/14/2015 12:06:16 PM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 14-05-2015 | Drillbit
    For project developers seeking the next big petro-play, some key news this week. With lawmakers in America moving to open one of the biggest swaths of new acreage in the history of the industry. On Tuesday, the U.S. senate introduced three bills to expand areas accessible for oil and gas drilling -- targeting the eastern Gulf of Mexico, Atlantic Ocean, and the Arctic. The Gulf of Mexico acreage would be the nearest play at hand. With this week's bill contemplating allowing drilling in this area as early as 2017.
  • Saudi Arabia Continues To Turn Screws On U.S. Shale

    05/13/2015 11:50:03 AM PDT · by Opintel · 16 replies
    Oilprice.com ^ | 13-05-2015 | ShaleDefender
    Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPECs latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous months total of 10.29 million barrels. That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. Saudi Arabia has increased production by 700,000 barrels per day since the fourth quarter of 2014 in an effort maintain market share. The resulting crash in oil prices is forcing some...
  • Saudis Snub Obama Over Iran Deal

    05/12/2015 8:34:26 AM PDT · by Opintel · 10 replies
    Oilprice.com ^ | 12-05-2015 | Nick
    The U.S. is seeking a rapprochement with Iran over its nuclear program, potentially ending several decades of hostility. But while the U.S. is extending an open hand to Iran, other countries in the Middle East are casting a wary eye towards the negotiations. In fact, it is starting to appear that Gulf Arab states could be a major impediment to a final agreement over Irans nuclear program. Led by Saudi Arabia, many of the oil-producing members of the Gulf Cooperation Council (GCC) are skeptical of, if not downright hostile towards Iran. With little trust between Iran and its Arab neighbors,...
  • ISIS Still Hampering Iraqi Oil Industry Progress

    05/08/2015 3:15:02 PM PDT · by Opintel
    Oilprice.com ^ | 08-05-2015 | refineries
    The U.S. military is helping Iraqi forces pushback ISIS at a vital oil refinery. The Baiji refinery is located between Kirkuk and Mosul, and it has been the target of ISIS militants since the extremist group first made major advances last summer. Baiji is Iraqs largest oil refinery, and as such, is strategically important to the country for revenues and for domestic fuel supplies. It actually also sits on a corridor that runs from the Tigris River valley to the Euphrates River valley. And so it's geographically significant as well as significant economically, the chairman of the U.S. Joint Chiefs...
  • Oil Sector May Not Cause Financial Apocalypse After All

    05/07/2015 12:10:26 PM PDT · by bananaman22 · 1 replies
    Oilprice.com ^ | 07-05-2015 | banana shake
    Across the oil patch, banks are starting to close off their exposure to some of the riskiest oil drillers. A new monthly survey from the Federal Reserve finds that banks that have issued loans to oil drillers are projecting some of them to go bad. Over the course of 2015, the Fed says that oil loans could deteriorate and that banks expected delinquency and charge-off rates. At the same time, the overall exposure to such loans remained small. Around 80 percent of the banks surveyed by the Fed indicated that their exposure to shaky oil companies accounted for less than...
  • Is This The Top For Oil Prices For Now?

    05/06/2015 1:31:53 PM PDT · by bananaman22 · 1 replies
    Oilprice.com ^ | 06-05-2015 | Oilman
    E&P earnings are coming in and the impression were left with is that natural gas investment in Marcellus is being reduced, while oil overall appears to be incrementally ramping up versus prior guidance. Also, production overall for 1Q15 has exceeded sell side expectations as well, as reported by many public companies. Noble (NBL) reported that its cutting investment in the Marcellus by some $200M in response to the Nat Gas price crash. This is on top of prior production reductions at Chesapeake (CHK) & Range Resources (RRC). However, the Ponzi game in shale oil, having to continuously drill to replace...