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Most Recent Articles by Oilprice.com:

The $32 Trillion Push To Disrupt The Entire Oil Industry

Feb 27, 2019 — Oilprice.com

The $32 Trillion Push To Disrupt The Entire Oil IndustryGlobal oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. International oil companies (IOCs) are likely to face a Black Swan scenario, which could end up being a boon for state-owned oil companies (NOCs).

Increased shareholder activism, combined with global warming policies of institutional investors and NGOs, are pushing IOCs in a corner, constricting financing options for oil companies.


Saudi Arabia: We’ll Pump The World’s Very Last Barrel Of Oil

Jan 24, 2019 — Oilprice.com

Saudi Arabia isn’t buying the peak oil demand narrative.

OPEC’s largest producer continues to expect global oil demand to keep rising at least by 2040 and sees itself as the oil producer best equipped to continue meeting that demand, thanks to its very low production costs.

Saudi Arabia will be the one to pump the last barrel of oil in the world, but it doesn’t see the ‘last barrel of oil’ being pumped for decades and decades to come.


Huge Backlog Could Trigger New Wave Of Shale Oil

Jan 22, 2019 — Oilprice.com

Huge Backlog Could Trigger New Wave Of Shale OilThe number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow.

The backlog of DUCs has continued to swell, essentially uninterrupted, for more than two years. The total number of DUCs hit 8,723 in November 2018, up 287 from a month earlier. That figure is also up sharply from the 5,271 from the same month in 2016, a 60 percent increase. The EIA will release new monthly DUC data on January 22, which will detail figures for December.


Oil Is At The Mercy Of Financial Markets

Jan 4, 2019 — Oilprice.com

Oil Is At The Mercy Of Financial Markets
Oil prices regained more ground on Wednesday, pushed higher after equity markets rebounded from an initial selloff at the start of 2019 trading.

The price gains are not entirely convincing. WTI and Brent posted strong gains, each up more than 3 percent by midday in New York, but come largely after U.S. equity markets shook off an earlier bout of pessimism.


The Saudi Dilemma: To Cut Or Not To Cut

Dec 4, 2018 — Oilprice.com

To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse the free fall of oil prices. At the time, it worked because everyone was desperate. Now, many OPEC members are both desperate while not yet recovered from the 2014 blow. Saudi Arabia is not an exception.


Can We Expect A Major Rebound In Oil Prices?

Nov 21, 2018 — Oilprice.com

Can We Expect A Major Rebound In Oil Prices?
After declining by more than 20 percent from the October peak, oil prices are showing some signs that they have now bottomed out.

WTI hit a low point at $56 per barrel on Wednesday and Brent hit a low just below $65 per barrel. Both crude benchmarks regained some ground at the end of the week, despite the huge increase in U.S. crude oil inventories. In fact, rising prices in the face of the 10-million-barrel increase in crude stocks suggests that oil may have already hit a bottom. “[Y]esterday’s price reaction to the US inventory data shows that negative news is now largely priced in,” Commerzbank said in a note. “This is the only way to explain why an increase in US crude oil stocks of a good 10 million barrels failed to put further pressure on prices.”


U.S. Shale Has A Glaring Problem

Oct 23, 2018 — Oilprice.com

U.S. Shale Has A Glaring Problem

Oil prices are down a bit, but are still close to multi-year highs. That should leave the shale industry flush with cash. However, a long list of U.S. shale companies are still struggling to turn a profit.

A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) and the Sightline Institute detail the “alarming volumes of red ink” within the shale industry.


$100 Oil Is A Distinct Possibility

Sep 27, 2018 — Oilprice.com

$100 Oil Is A Distinct Possibility
An oil price spike is starting to look increasingly possible, with a rerun of 2008 not entirely out of the question, according to a new report.

The outages from Iran are worse than most analysts expected, and bottlenecks in the U.S. shale patch could prevent non-OPEC supply from plugging the gap. To top it off, new regulations from the International Maritime Organization set to take effect in 2020 could significantly tighten supplies.


The Downside For Oil Is Limited

Sep 11, 2018 — Oilprice.com

The Downside For Oil Is Limited
More than two weeks of nearly uninterrupted price gains for crude oil ended this week, with the rally running out of steam. The question is what happens next?

Oil prices posted steep losses just as the bulls were back on the march. WTI briefly topped $70 per barrel in recent days and Brent was flirting with $80. But the rally was kneecapped by a variety of factors, and it could be challenging to break above those key pricing thresholds in the near future.


The Single Biggest Breakthrough In Oil Tech This Year

Aug 29, 2018 — Oilprice.com

Utah's oil sands industry
Utah holds the largest reserves of oil sands in the United States, but up until now, no company had the technology to exploit these vast resources.

Despite the potential, “only a few companies are pursuing the price-sensitive and water-intensive development of the state’s oil shale and oil sand resources,” the EIA said in a 2017 report on the state, essentially writing off the region as a meaningful opportunity.


A Saudi-Iran Oil War Could Break Up OPEC

Aug 24, 2018 — Oilprice.com

A Saudi-Iran Oil War Could Break Up OPEC
When OPEC and Russia shook on increasing crude oil production by a million barrels daily to stop the oil price climb that had begun getting uncomfortable for consumers from Asia to the United States, there was no sign of what was to come just two months later: slowing demand in Asia, ample supply, and a brewing price war between Saudi Arabia and Iran.


Saudi Arabia And Iran Reignite The Oil Price War

Aug 14, 2018 — Oilprice.com

Saudi Arabia And Iran Reignite The Oil Price War
The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil.

Saudi Arabia, OPEC’s largest producer, has been boosting oil production to offset supply disruptions elsewhere, including the anticipated loss of Iranian oil supply after U.S. sanctions on Tehran return in early November. The Saudis are also cutting their prices to the prized Asian market to lure more customers as they increase supply.


Strong Dollar Could Cap Oil Prices

Jul 27, 2018 — Oilprice.com

Strong Dollar Could Cap Oil Prices
President Trump’s trade war with China, which is still in its early stages, has already battered the yuan. The dollar has gained more than 8 percent against the Chinese currency since March. As Reuters points out, in dollar terms the price of Brent oil has climbed 9 percent this year, but in yuan terms oil is now nearly 14 percent more expensive.


The New Oil Cartel Threatening OPEC

Jul 6, 2018 — Oilprice.com

The New Oil Cartel Threatening OPEC
When reports emerged that India and China are in talks about forming an oil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying.

“The timing is right. The boom in U.S. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. The two countries, after all, account for a combined 17 percent of global oil consumption and they are the ones that would be the hardest hit if prices rise as a result of OPEC’s actions.


3 Breakthrough Technologies Changing The Energy Sector

Jun 30, 2018 — Oilprice.com

3 Breakthrough Technologies Changing The Energy Sector, Perovskite: Solar Panels, Lithium, Petroteq
Energy has seen some big changes in the last few years.

Coal has stumbled. Renewables have surged. Oil fell hard, then spent years clawing its way back up.

But the biggest change in energy has been in tech.


The Saudis Won’t Prevent The Next Oil Shock

Jun 30, 2018 — Oilprice.com

The Saudis Won't Prevent The Next Oil Shock
Saudi Arabia is starting to panic, and is growing concerned that the growing number of supply disruptions around the world could cause oil prices to spike. Saudi Arabia is moving quickly to head off a supply crunch, aiming to dramatically ramp up production to a record high 11 million barrels per day in July, according to Reuters.


Can Saudi Arabia Prevent The Next Oil Shock?

Jun 14, 2018 — Oilprice.com

Can Saudi Arabia Prevent The Next Oil Shock?
The ongoing speculation online about the future of cooperation between Russia and OPEC seems to be a little one-sided. The main point of discussion up until now has been the fact that, due to international pressure (such as Trump’s Twitter diplomacy, perceived Russian willingness to open up the taps and pressure from Asian consumers) Saudi Arabia will be willing to revoke its current production cut stance.


Emerging Market Meltdown Could Undermine Oil Rally

May 31, 2018 — Oilprice.com

Emerging Market Meltdown Could Undermine Oil Rally
Saudi Arabia and Russia just destroyed the oil price rally, potentially putting an end to all the speculation about what the group might do next. But higher production doesn’t necessarily mean higher oil prices are entirely out of the question, and in fact, the oil market is still faced with a ton of uncertainty.

Higher oil production from the OPEC/non-OPEC group would seem to close off the higher-price scenario. But a “complete collapse” of Venezuela’s oil production could still push oil prices up to $100 per barrel, Bob Parker, investment committee member at Quilvest Wealth Management, told CNBC.


IEA: High Oil Prices “Taking A Toll” On Demand

May 17, 2018 — Oilprice.com

IEA: High Oil Prices Taking A Toll On Demand
Geopolitics has taken over the oil market, driving oil prices up to three-year highs. The inventory surplus has vanished, and more outages could push oil prices up even higher. Yet, there are some signs that demand is starting to take a hit as oil closes in on $80 per barrel.

In the IEA’s May Oil Market Report, the agency said that OPEC might be needed to step in and fill the supply gap if a significant portion of Iran oil goes offline. Saudi Arabia suggested shortly after the U.S. announced its withdrawal from the Iran nuclear deal that OPEC would act to mitigate any supply shortfall should it occur.


When Will Electric Cars Take Over The Roads?

May 7, 2018 — Oilprice.com

When Will Electric Cars Take Over The Roads?
The age of the electric vehicle (EV) will be here sooner than you think.

Out of 1 billion cars in the world, only 2 million are electric. But that will soon change, as costs diminish, and more governments encourage the adoption of EVs to cut carbon emissions and fight urban pollution.

According to Bloomberg, by 2040, 54 percent of all new car sales will be for EVs. Millions of new EVs will take a big bite out of oil demand and displace 8 million barrels of transport fuel (gasoline and diesel) every day.