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Oman Blasts OPEC
Russell T. Rudy is exclusively lower 48, onshore focused, so it might come as a surprise that so many of our recent posts deal with international events. However, as the recent oil price slide has shown, energy markets are global; what happens overseas has a direct impact on us here at home. Consequently, when actions… Read More
Iran Good to $25
Iranian Oil Minister Bijan Zanganeh contends that Iran is fine with oil prices dropping to as low as $25 per barrel, according to a recent article in “Rigzone”. In spite of behind the scenes lobbying by Iran and Venezuela to get other OPEC members to cut back on production and restore prices, Iran is publicly… Read More
What to Expect in 2015
According to a recent article in “Rigzone”, there is some good news on the horizon. Energy consulting firm Wood Mackenzie expects partial relief for oil and gas operators via reduced rates from service companies, asset high-grading, and efficiency gains. The article cites 15 trends we can expect to see in the coming year. I have… Read More
Crude Price War?
No one knows where the price of crude will ultimately bottom out, or how long it will take to get back to previous highs. However, it is becoming evident that OPEC in general, and the Saudis in particular, are not afraid of the sight of blood. Three factors, supply and demand, human nature, and geopolitics… Read More
UAE’s Take On Oil Prices
“Rigzone” reports that in a recent interview, United Arab Emirates (UAE) oil minister, Suhail bin Mohammed al-Mazrouei, stated that the drop in oil prices is due to oversupply caused by new production in non-OPEC countries. He went on to say that it will take time for the market to absorb it. How much time, months… Read More
