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Bearish Forces
We fondly remember when oil was trading above $100 a barrel, and would like to forget its plunge to a 12 year low of less than $30, due to a global oil glut. As production dropped and it looked like inventories would start shrinking, prices rallied by 30%. Now, “World Oil” reports that the recent… Read More
LNG Price War in Europe
Apparently Russia and Norway have taken a page out of Saudi Arabia’s playbook. “World Oil” reports that these two nations are increasing production and driving down natural gas prices in order to preserve market share. This strategy is aimed at containing the growth of Qatari Liquefied Natural Gas (LNG) imports into Europe and preventing U.… Read More
IPAA Update
Mark K. Miller, Chairman of the Independent Petroleum Association of America (IPAA), was the guest speaker at the April meeting of the Houston Association of Professional Landmen. Founded in 1929, the IPAA has been the leading advocate for independent oil and gas producers in the U. S. The organization is basically a lobbying group and… Read More
$120 by 2018?
In a recent article posted on “Real Money”, Daniel Dicker makes the case for $120 oil by 2018, and double digits by the end of next year. While this is by no means a consensus view, the author makes an interesting case based on generally accepted supply and demand forecasts, and enhances this with his… Read More
Shrinking Surplus
As recently as February, the International Energy Agency (IEA) had been warning that the global oil surplus could drive prices down even further. Now, “World Oil” reports that as lower prices are taking their toll, non-OPEC production is slipping to the point that markets could start moving toward equilibrium in the second half of this… Read More
