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Oil prices and budgets:The OPEC countries most at risk

Oil prices and budgets:The OPEC countries most at risk

Plunging oil prices have left many crude-exporting countries with budgets that simply won't balance. For many of the biggest producers — places like Saudi Arabia, Venezuela and Algeria — oil accounts for the majority of the country's exports and gross domestic product. Collapsing prices have meant dramatic declines in government revenue at a time when many political leaders are working ...

Swept Under The Rug - The Story Of 2015's Booming American Oil Demand

Swept Under The Rug - The Story Of 2015's Booming American Oil Demand

Summary Oil demand in 2015 isn't weak, it is strong especially in the United States where consumption has surged. Relative to 2013, oil demand in 2015 has increased by over 800,000 barrels per day which is nearly equal to a full year of global growth. This demand surge has been greatly underestimated by the IEA and is a major reason for the "missing barrels" in the IEA ...

OPEC’s Bad Bet By The Numbers

OPEC’s Bad Bet By The Numbers

What will happen to the economic fortunes of OPEC members if it turns out the Saudis and their Gulf Arab allies (UAE, Kuwait, and Qatar) bet on the wrong horse in November 2014? With the wager Saudi Oil Minister Al al-Naimi announced on market forces as the cure for the pressures on OPEC’s global market—a wager which their fellow OPEC members questioned and only reluctantly supported – ...

Pouring oil on troubled waters: 'Surplus until 2017'

Pouring oil on troubled waters: 'Surplus until 2017'

Tanzeel Akhtar, special to CNBC.com As the price of oil continues its decline, economists have warned on a lack of upward price pressures for the commodity for at least another two years. David McNew | Getty Images News | Getty Images Thomas Pugh economist at Capital Economics predicts oil could hit $55 per barrel for Brent crude ...

Why 'midstream' energy mergers are booming

Why 'midstream' energy mergers are booming

Tom DiChristopher Dealmaking among companies that process, store, and transport oil and gas reached $63.5 billion in the third quarter, accounting for more than two-thirds of mergers and acquisitions activity in the U.S. energy sector, according to a new report by PricewaterhouseCoopers. Justin Solomon | CNBC Pipelines and oil storage ...

A $70 oil floor? Opec price plan may be first step

A $70 oil floor? Opec price plan may be first step

The safe money for oil traders is betting that Venezuela's plan to resurrect Opec's old price band mechanism, attempting to set a $70 floor for the battered market, will be doomed from the start. Saudi Arabia, the group's de facto leader, has shown zero interest in returning to a strategy of supporting prices; big producers outside the Organization of Petroleum Exporting Countries ...

Regional Report: MENA

Regional Report: MENA

  worldoil.com Pramod Kulkarni, World Oil With the industry facing low crude oil prices for the foreseeable future, the Middle East and North Africa (MENA) region remains an oasis of increasing oilfield activity, due to minimal lifting costs. Saudi Aramco has budgeted $50 billion to double crude oil and liquids production from ...

We just got the first significant sign Saudi Arabia is hurting for cash

We just got the first significant sign Saudi Arabia is hurting for cash

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Support For OPEC Production Cut Is Increasing | OilPrice.com

Support For OPEC Production Cut Is Increasing | OilPrice.com

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Saudi Arabia withdraws overseas funds

Saudi Arabia withdraws overseas funds

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Oil Majors Sacrifice Production To Protect Dividends | OilPrice.com

Oil Majors Sacrifice Production To Protect Dividends | OilPrice.com

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How Much Are The World’s Giant Oil Fields Depleting? | OilPrice.com

How Much Are The World’s Giant Oil Fields Depleting? | OilPrice.com

I am starting this post off with a news article because it explains why JODI  has U.S. production numbers wrong for July. The Joint Organizations Data Initiative (JODI) releases monthly oil supply-and-demand data for about 80 countries, which it gathers by directly surveying the countries. It is widely cited by analysts, especially for its figures on demand, ...

Texas Has Seen Peak Oil Production For Now, Gas Production Still Increasing | OilPrice.com

Texas Has Seen Peak Oil Production For Now, Gas Production Still Increasing | OilPrice.com

Ron Patterson The Texas RRC Oil & Gas Production numbers are out. They came out on a weekend this month. All RRC data is through July. The EIA data is through June. Keep in mind that the RRC data is incomplete, that is why the chart lines droop on the end. However the EIA data is from the EIA’s Petroleum Supply Monthly , the data of which the EIA says ...

The Real Price Of Oil In Texas

The Real Price Of Oil In Texas

Stephen Christoffersen WTI production in Texas and the Texas Unemployment rate are closely correlated. Despite reduction in Texas rig counts, production remains near all-time highs. The full pain of low oil prices have yet to be felt in the country's second largest economy. It is often ...

Iran Deal May Redefine The Middle East | OilPrice.com

Iran Deal May Redefine The Middle East | OilPrice.com

  Robert Berke  One month after the Iran nuclear deal was concluded, the Middle East is still reeling from profound shock. Long and well established alliances have led to bewildering changes, not only in the Mideast, but across the world. The stark difference is nowhere more strikingly revealed than in the media reports on the recent Iran nuclear ...

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