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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
Rudy Energy at the NARO Convention
In October, Russell Rudy represented us at the 34’th National Convention of the National Royalty Owners Association in Albuquerque, NM. Fortuitously, the convention coincided with the International Hot Air Balloon Fiesta. Attendees could wake up in the morning to the sight of the colorful balloons over the City. The convention was full of educational and… Read More
Bakken’s Breakeven
There has been much speculation as to the impact of recent price declines on future production and drilling activity. The answer appears to be “it depends”. In an opinion piece in “Rigzone”, author John Kemp makes his projections based on recent remarks by Lynn Helms, the Director of the North Dakota Department of Mineral Resources.… Read More
Oil Price Sensitivities
Most of us are well aware of the oil price elasticity as it relates to consumer demand for petroleum products. “Rigzone” recently wrote about a study by consulting group, Wood Mackenzie, which deals with the sensitivity of global oil production to crude prices. Since this study involved global production, they used the price of Brent… Read More
