Our Blog
Downward Pressure on Prices Continues
Rising global production, record domestic inventories, and stagnant demand are proving a negative trifecta for crude oil prices. “World Oil” reports that we are nearing a 6 year low as a result. The U.S. Energy Information Agency reports that domestic production has reached 9.37 million barrels of oil per day (bopd), the most since 1983. … Read More
Oil Rig Count Continues to Slide
“World Oil” reports that the domestic oil rig count dropped for the 14’th straight week, the biggest retrenchment on record. The decrease of 56, down to 866, is the lowest level in almost four years. The crude oil price collapse has resulted in billions of dollars of reductions in energy investment, and the loss of… Read More
No Relief in Sight
Looking at recent articles in “World Oil” there appears to be scant hope of any crude oil price relief in the near future. Abdullah bin Hamad al-Attiyah, Qatar’s former energy minister, has indicated that OPEC will not change its policy of maintaining market share at the expense of crude prices. OPEC is not scheduled to… Read More
Consolidation
As soon as it became apparent that the crude oil price collapse was not a temporary phenomenon, many industry observers predicted an industry consolidation. One need look no further than yesterday’s on-line edition of “World Oil” for proof that it is underway. Whiting Petroleum Corp, the largest operator in the Bakken shale in North Dakota,… Read More
A Review of The Colder War
I recently read The Colder War: How the Global Energy Trade Slipped from America’s Grasp, by Marin Katusa. An old friend read and recommended the book and now I know why. The author, son of Croatian immigrants, was a math professor, and subsequently worked in the energy and mining industries before becoming a hedge fund… Read More
