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Eight pieces of our oil price predicament
A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so that in total producers would provide enough–but not too much–oil for the world economy. The prices would be fairly affordable f...
» Written by Gail Tverberg on Friday, October 24, 2014
Oil price, BP/Chevron, Ophir and finally...
Oil price Last week I named it 'short covering Friday as for the last few weeks this day has seen bears closing short positions ahead of the weekend, but today is slightly different. Last Friday we had just bounced off the low of the 50% retracement of the 5 year high and now the market appears...
» Written by Malcolm Graham-Wood on Friday, October 24, 2014
Give us a break...
I see that Oil & gas UK has been talking again about the need for George Osborne to ‘put his money where his mouth is’ (I paraphrase!) and change the fiscal terms operative in the UKCS. This of course would be very welcome. BUT, what it doesn’t do is get the COSTS of doing busine...
» Written by David Bamford on Thursday, October 23, 2014
Oil price, Tullow, Chariot, FOGL, Sundry-Weatherford-Core Labs-BP-Total-Range-Northern Pet-Jupiter-Tangiers, and finally...
Oil price Ok, so we whispered it a little too loudly and the oil price came off again last night after a poor set of inventory stats. These came in from the EIA as a 7.1m build which was a little more than double the consensus and much higher than the API number which is what spooked the market. US...
» Written by Malcolm Graham-Wood on Thursday, October 23, 2014
Oil price, Nabors, Shell, Amerisur, Nostra Terra, Sundry and finally...
Oil price Whisper it very quietly... but we might just have seen the bottom for the oil price, at least for the time being. Now this is no cause for breaking out the champagne nor does it signify a meaningful rally but there are a couple of small signs that the major part of the fall has now happen...
» Written by Malcolm Graham-Wood on Wednesday, October 22, 2014
Why it's different this time
Is this downturn in oil prices going to be different for investors? I think it might. In fact, I think North American energy companies have a good chance of withstanding this downfall in prices than any other downturn of the last 40 years. You wouldn’t know it by looking at the recent carnage...
» Written by Keith Schaefer on Wednesday, October 22, 2014
Oil price, Total, Ophir, Madagascar, Lamprell, Northern, Sundry-BP-Egdon-Xcite-Faroe, And finally...
Oil price All eyes were on the Chinese data overnight and there was relief that they weren't bad, in the end slightly beating the whisper at 7.3%. Forecasts had centred around 7.2% after last figs of 7.5% but overall not too bad. The oil stats were actually better than economists had predicted ...
» Written by Malcolm Graham-Wood on Tuesday, October 21, 2014
A fly on the wall at OPEC's November 27th meeting
The next meeting of OPEC ministers is scheduled to take place November 27, 2014 in Vienna. It is not going to be business as usual. The stated purpose of the meeting is to set production policies for 2015. But we all know what the members will be discussing over tea or something stronger. “...
» Written by Gary L Hunt on Tuesday, October 21, 2014
Oil price, President, Genel/SL/Serica, Egdon/Europa, Sundry-Range-Afren-Halliburton, And finally...
Oil price There is a slightly better feel about the oil price this morning, US consumer sentiment appears better and it appears that China, as suggested here a number of times, has been buying for its strategic reserves. Elsewhere the Khafji oilfield in the Saudi/Kuwait territory has seen a product...
» Written by Malcolm Graham-Wood on Monday, October 20, 2014
Oil decline: Price makes the story
So oft in theologic wars, The disputants, I ween, Rail on in utter ignorance Of what each other mean, And prate about an Elephant Not one of them has seen! --The Blind Men and The Elephant by John Godfrey Saxe When the world's business editors sent their reporters canvassing to find out what i...
» Written by Kurt Cobb on Monday, October 20, 2014
Oil price, Schlumberger, Petrofac, Lamprell, Pantheon, Aminex and finally...
Oil price I think at the moment we shall call this day, short closing Friday as the market has got used to ‘taking out a Rupert’ during the week and covering the position on Friday to ensure they aren’t left exposed over the weekend. There is nothing much to add this morning on t...
» Written by Malcolm Graham-Wood on Friday, October 17, 2014
Tech Talk - Pessimistic Talk in a time of surplus
The oil markets are concerned that there is too much oil currently available on the market, and that, as a consequence, oil prices may continue to tumble. Saudi Arabia is reportedly telling Reuters that it is happy with prices that may fall as low as $80 a barrel. As I mentioned the other day, some ...
» Written by David Summers on Thursday, October 16, 2014
Flash blog, Oil price, BG
Oil price- Brent expires... It must have felt like expiry as Brent and WTI took the biggest hit yesterday after the IEA report came out. Cutting 2014 demand forecast growth by 250/- b/d to 650/- was more than expected but they also concurred with other forecasters that Opec September production was...
» Written by Malcolm Graham-Wood on Wednesday, October 15, 2014
World War III: It's here and energy is largely behind it
I've been advancing a thesis for several months with friends that World War III is now underway. It's just that it's not the war we thought it would be, that is, a confrontation between major powers with the possibility of a nuclear exchange. Instead, we are getting a set of low-intensit...
» Written by Kurt Cobb on Tuesday, October 14, 2014
Oil price, Afren, Aminex, Enteq, Ineos and finally...
Oil price A short and sharp blog today as I am off to do a CEO interview with Rory Scott Russell of Range Resources, I will add to company news later if I glean more. The oil price remains persistently weak and will do if this perfect storm continues, everyday there is more oil on world markets an...
» Written by Malcolm Graham-Wood on Tuesday, October 14, 2014
Oil price, Sound Oil, Petrofac, Bahamas Petroleum, Sundry- Statoil-GDF Suez-Range Resources, And finally...
Oil price The very slight rise as indicated by the prices above were, in reality, only some modest covering of short positions established during the week and this morning prices are around a dollar off. Almost all the news is unremittingly bearish and international markets are falling, the Dow is ...
» Written by Malcolm Graham-Wood on Monday, October 13, 2014
De-marginalising small oil fields
In the run up to the Scottish referendum there was heated political debate over whether 15 billion, 24 billion or even more barrels of oil equivalent (boe) could still be extracted from the North Sea. It served only to highlight the wide-ranging uncertainty surrounding the total figure. Yet one ass...
» Written by Edward Marriott on Monday, October 13, 2014
Oil price, Shell, Tullow, Faroe, San Leon and finally...
Oil price I said in the blog, and on interview with IG Group* on the 2nd of October that there might be another $5 of downside in the oil price, 9 days later and that has already happened. On that day the Brent price was $94.16 and today Brent is trading at $88.91, not far above its long term supp...
» Written by Malcolm Graham-Wood on Friday, October 10, 2014
Oil price, Wood Group, IGas, Ithaca, Caza, Sundry and finally...
Oil price The oil price had another bad day, this time it was the Iranian Oil Minister, Bijan Zanganeh who put the cat among the pigeons by changing his view and saying that he felt that there was no need for an emergency Opec meeting. Of course Iran is in an acutely difficult position, twas ever t...
» Written by Malcolm Graham-Wood on Thursday, October 9, 2014

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Opinions & Commentary

Oil price, Schlumberger, Petrofac, Lamprell, Pantheon, Aminex and finally...

by Malcolm Graham-Wood

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