Monday, January 13, 2025
Iran, OPEC

Oil Prices Fall from Three-Month High As Iran Oil Production Ramps Up

Iran will not freeze production below 4 MMBOP – Iranian Oil Minister Crude oil prices took a steep fall this morning as hopes that OPEC might curb production in order to reach a $50 per barrel price floor were diminished by news that Iran plans to continue increasing production. U.S. benchmark WTI fell as low as $36.73 today, while international

Cushing oil storage tanks -oilandgas360

Cushing Full by June, Then What?

With so much oil being produced in the U.S. and nowhere to store it, why are we still importing? Crude oil stocks continued to build last week to levels well above the five-year average as global oversupply persists. Production in both OPEC and non-OPEC countries is beginning to decline, according to information from the IEA, but demand still has not

EnerCom's The Oil & Services Conference San Francisco 2015

The Oil & Services Conference™ Presenters Talk 2016 Strategy and Beyond

$80 Oil + $4 NatGas + 1,300 Rigs Working After the news of the past few weeks, it felt like we were getting really close to the day when investors and oil industry spouses might be ready to throw in the towel. Then EnerCom’s 14th west coast investor conference unearthed something in the shadow of the Transamerica Building. By blending together a batch of

Rosneft May Top Gazprom as Kremlin’s Crown Jewel of Energy

From Bloomberg: The two energy companies at the heart of Russia’s economy are on the verge of a historic reversal that could subtly shift the balance of power in the corridors of the Kremlin. Gazprom PJSC, the world’s largest natural gas producer, is worth just $2.6 billion more than Rosneft OJSC, Russia’s biggest oil company. That premium, down from more

ValueAct’s Ubben: Here’s why oil could hit $100

From CNBC: Oil prices could approach $100 per barrel in the coming years as firms struggle to maintain current production levels, a top hedge fund manager argued on Monday. ValueAct Capital Management’s founder and CEO Jeffrey Ubben said, as many companies cut labor forces, keeping up drilling activity will become “very difficult.” The slowdown in production could drive crude to