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Oil price, IOG, Sefton, Sundry roundup of week. And finally...

Oil price Wow, that was one hell of a week whichever way you look at it. The oil price has picked up from the bottom in no mean fashion, yesterdays rise was the biggest one day rally in six years and WTI will likely be up on the week for the first time in 11. There are a number of reasons for the r...
» Written by Malcolm Graham-Wood on Friday, August 28, 2015

It's Murphy's Law for Canadian Oil Producers

Murphy's Law Is Alive And Well In The Canadian Energy Patch Despite oil being up today, it's ugly for E&P companies across the globe. But I think Canadian producers have been hit with Murphy's Law worse than anyone. After a decent Q2-because of the low Canadian dollar and forest fires reducing sup...
» Written by Keith Schaefer on Friday, August 28, 2015

How Russia has devoted its energy to the beautiful game

As the new European football season starts and the tiresome FIFA corruption scandal rumbles on, most of us are inevitably preoccupied either by who will win the coming season's titles or how the governing body will cope with the pressure. But there is an intriguing, and strengthening, agenda hidden ...
» Written by Simon Chadwick on Thursday, August 27, 2015

Malcy's Flash Blog - Results, And finally...

Another flash blog this morning as there are so many results and meetings that I will have to revert after most, herewith a very quick summary with more to follow after meetings. The oil price stayed relatively subdued after the EIA inventory stats all but confirmed the API numbers with a draw of 5...
» Written by Malcolm Graham-Wood on Thursday, August 27, 2015

Oil price, Cape, Andes Energia, Aminex, Sundry-Schlumberger-Nostrum/Tethys- Faroe-IGas-Circle- And finally...

Oil price Crude prices rallied a touch yesterday with a variety of reasons being proffered, the weak dollar as the Jackson Hole meeting starts today to decide on when interest rates are to rise seemed as good a start as any. If you believe that the dollar strength has run its course for the time be...
» Written by Malcolm Graham-Wood on Wednesday, August 26, 2015

Deflationary Collapse Ahead?

Both the stock market and oil prices have been plunging. Is this 'just another cycle,' or is it something much worse? I think it is something much worse. Back in January, I wrote a post called Oil and the Economy: Where are We Headed in 2015-16? In it, I said that persistent very low prices could b...
» Written by Gail Tverberg on Wednesday, August 26, 2015

2014 Was Not 1985, So 2015 Will Not Be 1986

Back in February 2015, Bob Dudley, BP's CEO, said in a Bloomberg TV interview that the fundamental supply and demand picture reminded him of 1986, and he feared we could go into a period of lower oil prices perhaps staying in a range below $60/bbl for as long as three years. He added 'It will be a l...
» Written by Stephen A. Brown on Wednesday, August 26, 2015

John Mauldin Defends The Faith, Fails Economics 101

John Mauldin defends the faith of what he calls the 'fracking gospel' but fails Economics 101. In his recent post 'Riding the Energy Wave to the Future', he claims that oil prices are falling because the cost of producing tight oil is cheaper than most conventional oil. But oil is $40 per barrel a...
» Written by Art Berman on Tuesday, August 25, 2015

Time To Scrap Old Thinking On Oil Markets

A SEASONAL fall-off in demand for oil, rising concerns over the Chinese economy and worsening global oversupply of crude could push oil down into the $30 dollars a barrel range, a majority of analysts surveyed by the Wall Street Journal now believe. And money manager David Kotok has told CNNMoney t...
» Written by John Richardson on Tuesday, August 25, 2015

Rise Early, Work Hard, Strike Oil

Everyone knows J. Paul Getty's formula for success: rise early, work hard, strike oil; and pretty much everyone I know in the oil business rises early and works hard, some of them even strike oil. So it's hard to find many oil folk who don't believe in the quote, of course the tricky bit is the last...
» Written by Stephen A. Brown on Tuesday, August 25, 2015

Malcy's Flash Blog - Petrofac

Petrofac A very short blog this morning as it is likely to be this week with so many results and meetings going on. Petrofac has announced its results which under the 'challenging' circumstances appear to be pretty robust. I am attending the meeting shortly and of course will comment afterwards sh...
» Written by Malcolm Graham-Wood on Tuesday, August 25, 2015

OPEC's Gigantic Blunder

With WTI falling below $40 and perhaps heading for $20, one needs to wonder if OPEC's strategy is working out as planned? Why are they following this course and what are their goals? The face value explanation, accepted by many, is that OPEC is protecting market share especially against rampant supp...
» Written by Euan Mearns on Monday, August 24, 2015

DW Monday: License to Drill - Saudi Bond Issue

Low global crude prices have hit Saudi Arabia hard. With a considerable budget deficit, Saudi has been forced to begin borrowing from capital markets - $4bn in July. The kingdom is highly reliant on oil - accounting for more than 90% of budget revenues. Cuts have not been made to capital expenditure...
» Written by Andy Jenkins on Monday, August 24, 2015

Oil price, San Leon, Sundry-GKP-Wentworth-Tethys-Aminex-Trinity- And finally...

Oil price Oil closed sharply down again on Friday, the prices above showed a drop of $2.66 or 6.2% for WTI and $3.73 or 7.6% for Brent. Friday's PMI data from China disappointed the market as did the US numbers, thoughts of a September rate rise in the US are receding although not certain, Friday's ...
» Written by Malcolm Graham-Wood on Monday, August 24, 2015

Oil price, Premier, And finally...

Oil price Another short blog today, I am visiting the Vauxhall office later but a couple of things to point out. Crude fell sharply on the EIA inventory numbers, analysts had been predicting a stock draw but got the sign wrong and the build of 2.6m barrels spooked the market. While I have been sayin...
» Written by Malcolm Graham-Wood on Thursday, August 20, 2015

If Not For You, LTO & SAGD, We'd Be Sad and Blue

Last week I spotted a very interesting chart that Gregor MacDonald tweeted which showed world oil production over recent years excluding the USA. The chart was pretty flat and that got me wondering about the extent to which the world has come to depend upon Light Tight Oil in the USA and, for that m...
» Written by Stephen A. Brown on Wednesday, August 19, 2015

The Oil Price: how low is low?

With West Texas Intermediate (WTI) and Brent close to their January 2015 lows some readers are wondering how these lows compare with historic lows when the oil price is adjusted for inflation (deflated). BP just happen to provide an oil price series that is adjusted for inflation (Figure 1). The dat...
» Written by Euan Mearns on Wednesday, August 19, 2015

Oil price, 14th Onshore round, Sundry-EnQuest-Circle, And finally...

Oil price Another short blog today as the meeting season is getting underway, next week is worse... After further falls on Monday yesterday saw a sort of recovery on the back of better US data and the API stats showing a draw in crude stocks of 2.3m barrels. One other reason which shouldn't go unn...
» Written by Malcolm Graham-Wood on Wednesday, August 19, 2015

Why Rig Counts Matter: How Good Is the Permian Basin Anyway?

E&P companies have added 30 horizontal rigs in the Permian basin since the end of June. Most analysts didn't notice (Figure1). Figure 1. Tight oil horizontal rig counts since January 1, 2015. Source: Baker Hughes & Labyrinth Consulting Services, Inc. Rig counts in most active plays are stabilizin...
» Written by Art Berman on Tuesday, August 18, 2015
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