#oilpricing

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Big Oil's Fear: A Price Shock After $114 Billion of Cuts

Big Oil’s Fear: A Price Shock After $114 Billion of Cuts

US Oil Rig Count Continues To Drop

Introduction…The oil industry is get accustomed to the new pricing of $50 to $60 per barrel of oil. However, the industry is looking forward to a bigger challenge.

Price to rise further…Oil companies are warning there will be a much higher price to pay in the future for all the new drilling projects that are being cancelled due to the price collapse.  Big…

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Crude Oil Prices: 2009 Déjà vu All Over Again

Crude Oil Prices: 2009 Déjà vu All Over Again

 2015 Crude Tracking July 2009 CNBC

Introduction...Ari Wald, head of technical analysis at Oppenheimer, says crude oil prices today look very similar to price chart of six years ago. “If you look at that surge in February, we see a lot of similarities to the low for crude back in late 2008,” he said.

Price to rise further… Just as it did at this point on the chart in 2009, crude is set to rise…

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Why U.S. Oil Production Hasn't Declined

Why U.S. Oil Production Hasn’t Declined

Midland, Texas Drilling Rig

Introduction…Oil prices drop below the floor at the $50 per barrel has caught some by surprise.  The reason has been that the lower prices haven’t translated into lower production yet as was expected last fall.

  Drilling Rig Count Dropping…We have 684 fewer drilling rigs operating in the U.S. on March 13th as compared to a year ago.  The primary reason for the…

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Price Of Oil To Trash Corporate Accounting Valuations

Price Of Oil To Trash Corporate Accounting Valuations

Midland, Texas Drilling Rig

Introduction...There is one place where oil is still $95 per barrel. On Paper. SEC Rules…The U.S. Securities and Exchange Commission requires drillers to calculate the value of their oil reserves every year using average prices from the first trading days in each of the previous 12 months. Because oil didn’t start its freefall to about $45 till after the OPEC…

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Is Oil Back?

Introduction…Oil prices seem to have found a floor at the $50 per barrel mark of the last 30 days, as shown in the above WTI chart. One interesting development is pricing is that Saudi Arabia, the world’s largest crude exporter, increased pricing in terms for Arab Light sold to Asia. This was the largest increase in pricing in three years as demand improved. Abu Dhabi also raised prices for the…

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$200 Oil Warns OPEC Chief... Oil Prices Increase 8%

$200 Oil Warns OPEC Chief… Oil Prices Increase 8%

 H&P Drilling Rig Midland, Texas

Introduction…You probably have read predictions of how low oil can go. So, it may be a surprise that Abdalla El-Badri, OPEC Secretary General warns that oil could go to $200 if producers don’t invest in new supply. Future investment in oil and gas production will be required…“If you don’t invest in oil and gas, you will see more than US$200,” Abdalla El-Badri…

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Is The Bottom For Oil Price Near?

Is The Bottom For Oil Price Near?

Drilling For Oil In Texas

Introduction…While researching this topic, one thing is clear.  Opinions as to where oil pricing is going vary greatly.  So, how do we make sense of it?

  Late breaking news…U.S. crude futures turned positive in late morning trade on Tuesday after hitting a fresh five-year low that extended a six-month selloff.  U.S. crude rose 77 cents to $56.68 a barrel after trading…

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Future Oil Shortages May Be Created By Current Price Decline - IEA

Future Oil Shortages May Be Created By Current Price Decline – IEA

 ConocoPhillips Shale Production

Happy Thanksgiving!…I am thankful for my country, for all those who paid the ultimate price so we can be free,  for my friends and for my family.  Thank you for being a faithful reader of this newsletter. Introduction…The International Energy Agency (IAE) has warned that the current slump in oil prices will hold back investment and could create energy shortages…

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