The Wave Of Shale Well Closures Has Finally Begun

U.S. shale oil producers have so far held up admirably, hanging on for dear life amidst the biggest oil demand collapse in history. American producers continued to pump at record highs in March, even after dozens of drillers laid out blueprints to limit production. But with U.S. storage about to hit tank tops in a matter of […]

Explaining Negative Oil Prices

The most simple explanation for negative oil prices is that midstream players are now paying buyers to take oil volumes away as the physical storage limit will be reached. That’s what Rystad Energy’s Oil Market Analyst Louise Dickson said in a statement sent to Rigzone, adding that “top dollar” was being paid. “Pricey shut-ins or […]

A Conversation with Ray Dalio

Bloomberg Editor-at-Large Erik Schatzker talks with famed American investor and Bridgewater Associates Founder, Ray Dalio. Together they discuss the COVID-19 pandemic’s impact on markets, bonds, and longer-term implications he sees for inflation, trade, globalization, and fiscal policy.

Oil prices extend slide one day after U.S. crude drops below zero

A collapse in the price of oil continued to disrupt world markets as investors on Tuesday braced for another deep dive in U.S. stocks. Global benchmark Brent crude fell nearly 17 percent, one day after the U.S. benchmark fell below zero for the first time in history. Brent crude was trading at $21.35 a barrel […]

Here Is The Full Explanation Behind Today’s Unprecedented Negative Oil Price

Courtesy of IHSMarkit’s energy vice president Roger Diwan How did you end up with negative oil prices today?  This happens when a physical futures contract find no buyers close to or at expiry. Let me explain what that means: A physical contract such as the NYMEX WTI has a delivery point at Cushing, OK, & […]

The Real Reason Oil Futures Plunged On Monday Isn’t What You Think

KHANTY-MANSI AUTONOMOUS AREA – YUGRA, RUSSIA APRIL 5, 2020: A Surgutneftegas worker near a pumpjack … [+] Alexei Andronov/TASS Ouch! On the face of it, things look bad for the oil market. That’s an easy conclusion to make from the epic dive crude oil futures prices took on Monday. But the bigger story is far […]

Texas Oil at $2 a Barrel Raises Specter of Negative Prices

Crude prices in America’s oil capital are getting dangerously close to zero. Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago. The slumping value of physical barrels is raising the possibility that Texas […]

Mexico’s state oil company hasn’t paid hundreds of workers for months

Mexico’s populist president is trying to reshape the country into an economy with strong worker protections that is driven by oil growth. Yet hundreds of workers at state oil firm Pemex have gone unpaid for months, current and former employees told Quartz. Even in the midst of the coronavirus pandemic, Pemex has not paid many […]

How Will the Energy Industry Change in Light of COVID-19?

It’s virtually impossible to find a sector unaffected by the COVID-19 pandemic. As government leaders issue orders to stay at home, people must work differently, and they often face difficulties getting everyday essentials. The energy industry is one of many facing changes due to the coronavirus. It Will Make People More Cognizant of the Need […]

Coronavirus And The Coming Financial Revolution

The coronavirus pandemic is one of the biggest and unprecedented seismic shifts in the global economy that we’ve ever seen in modern history, and it’s just getting started. Already, economies around the world are shutting down. The federal reserve has pumped trillions into the United States economy in just a matter of days. Global supply […]

Population Growth and Global Food Supplies

Article in the UK Independent, suggesting that corona could help accelerate the end of the oil age. For starters, corona crashed the airline industry, a large oil consumer. Additionally the global lock-down caused many to work from a home office, exit commuting. And then there is climate crisis. And the WTO, predicting that world trade […]

The Worst Economic Collapse Ever?

Country after country has reported extremely dark economic numbers. The gigantic jobless claims, 6.6 million from the U.S. last week, are just the tip of the iceberg. For example, the service sector PMIs have been simply ghastly across the globe. We are now in a crisis of epic proportions. But, how massive can the crisis eventually get? […]

Is peak disease forming?

Global equity markets have surged higher over the past 24 hours on the back of positive developments in the containment of COVID-19. Sunday saw a significant pull-back in new cases in Spain and Italy, while cases in the US (and New York) pulled back too. Indeed, the five countries with the largest confirmed cases (US, […]

The Biggest Threat To Western Oil Majors

The international oil market is composed of two types of companies: International Oil Companies (IOC) and National Oil Companies (NOC). The former are Western firms with their origin often linked to the colonial past such as BP and Royal Dutch Shell. NOCs, on the other hand, were founded in a wave of nationalism in the […]

The Bailout Bonanza is Back!

  The emphasis has to be on HOG as they squeal for corporate welfare and push their snouts into the trough. One hedge hog says the government needs to bail out all businesses by paying all wages so companies that depleted all cash don’t have to pay to retain all workers:   Bill Ackman✔@BillAckman Mr. […]

The Best Day In The History Of Oil Markets

Crude oil just had its best day ever, only a day after its third-worst drop in history. West Texas Intermediate jumped more than 23% to $25.22 a barrel on Thursday. However, it remains on track for its worst monthly decline on record as a supply glut and demand concerns keep oil investors on edge. Three […]

How will oil and gas companies solve the energy trilemma?

The price of oil is dependent on supply and demand – with the latter being more significant at present. Notice that the price of petrol has fallen over the last month? This is directly related to the coronavirus outbreak, which has led to fewer people travelling, and subsequently less demand for petrol, diesel and aviation […]

Spectacularly wrong: Why Wall Street doesn’t understand the corona virus

Investment professionals on Wall Street spend their days reading financial reports and looking at numbers flash on screens. These numbers record the moment-to-moment changes in the collective wisdom of markets about the value of stocks, bonds, commodities and a distressing array of derivative financial products. From the comfort of the sealed caverns of Wall Street […]

The Great American Shale-Oil Bust Turns into Massacre

Shares of shale oil drillers collapsed by 25%-50% today. Their bonds got massacred. Saudi-Russia price-war strategy appears successful in wiping out investors in the US shale-oil sector. It was so chaotic and brutal in the crude oil market today that the EIA, which is part of the US Department of Energy, emailed out a statement […]

The Things That Matter Don’t Change

Summary There is gravity to the coronavirus and the possibility to spread and infect populations around the globe. The coronavirus points to the clear danger of concentrating manufacturing supply chains in one country. As the U.S. downsizes its navy and withdraws from being the world’s policeman, the transport of oil to where it’s needed will […]

Scarcity and growth: Our world’s contradictory terrors

In 1933, ground-breaking British economist John Maynard Keynes wrote: “[Individualistic capitalism] doesn’t deliver the goods. In short, we dislike it and we are beginning to despise it. But when we wonder what to put in its place, we are extremely perplexed.” At that time, the world was deep in the Great Depression. But it is […]

Eni says its oil and gas production will peak in 2025

Italian energy group Eni said its oil and gas production would peak in 2025 as the energy company pledged to cut its greenhouse gas emissions by 80 per cent by 2050. The latest set of climate pledges by a European energy major come as the industry is under intense pressure from investors and climate activists […]

A Middle East Financial Crisis Is In The Making

A Dubai-based operator of ports and terminals around the world is returning to full state ownership with a proposed transaction and a subsequent delisting from Nasdaq Dubai. This could be one of the latest signs that the oil-rich countries in the Middle East are still struggling to shore up budgets and finances in the aftermath […]

Jim Cramer: ”Fossil Fuels Are Done”

“I’m done with fossil fuels. They’re done. They’re just done.” CNBC’s Jim Cramer didn’t even feel the need to address the disappointing earnings from the oil majors. Chevron and ExxonMobil had just announced fourth quarter results, which saw profits drop again. Their stock prices were down by 2 percent or so. It didn’t matter. He […]

Is This The End Of Canada’s Oil Sands?

Another billion-dollar energy project is polarizing Canada once again, but this time, it’s got nothing to do with pipelines, or even LNG terminals. It’s the Frontier oil sands mine that the federal government of Justin Trudeau must approve or reject by the end of next month. According to most observers, this decision will seal the […]

Alarm Over Virus Pushing Down Oil

Oil extended declines from the lowest close in seven weeks on speculation China’s coronavirus outbreak may dent demand as the market tackles a glut of global crude supplies. Futures lost 1.7% in New York as Chinese officials halted travel from Wuhan, the city at the epicenter of the outbreak. U.S. industry data signaled American crude […]

‘A sector in disarray’: Oil majors live beyond their means on investor payouts, study finds

Photo: Daniel Acker / Bloomberg A Chevron drilling operation in Texas. A think tank that favors renewable energy released results of a study that it says shows oil companies are “a sector in disarray.” The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they […]

Oil Update

Summary The facts remain that Production/Consumption has seen consistent growth since 2011 with only minor variation of 1.74% +/-0.013%. The data presented shows the US developing a Refined Product Export business since 2003 which has grown ~13% annually. The history from 2003 includes the speculative “Peak Oil” 2010-2014 period representing WTI over $100/BBL only to […]

The Future of the Oil Company

When it comes to the future sustainability (excuse the pun) of oil companies, there are two trains of thought, one of which is that they should ‘stick to their knitting’ and just focus on what they are good at, which is extracting oil and gas out of the ground, refining those fossil fuels and delivering […]

Peak Permian Oil Output Is Closer Than You Think

Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor. Adam Waterous, who runs Waterous Energy Fund, regards the sector’s financial position as unsustainable after years of disappointing returns for investors and negative free cash […]

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