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Montevideo, November 17th 2017 - 21:22 UTC

Tag: oil market

  • Wednesday, October 18th 2017 - 07:16 UTC

    The “Amazon Effect” is coming to oil markets

    Cottonwood Venture Mark P. Mills believes we are on the verge of an oil industry major transformation identical to that Amazon prompted in retail.

    By Irina Slav for Oilprice.com - While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field. Much talk has revolved around how software can completely transform the energy industry, but until recently, it was just talk.

  • Wednesday, May 11th 2016 - 12:14 UTC

    Oil markets on alert: major overhaul in Saudi Arabia´s cabinet and economic policy

    Ali al-Naimi has been replaced after more than 20 years in the role by former health minister Khalid al-Falih.

    Saudi Arabia's King Salman removed the country's veteran oil minister as part of a broad government overhaul. Ali al-Naimi has been replaced after more than 20 years in the role by former health minister Khaled al-Falih.

  • Saturday, December 5th 2015 - 06:50 UTC

    Oil futures fall sharply after OPEC agrees to keep 'current actual production'

    OPEC President Emmanuel Ibe Kachikwu said that there had been agreement to maintain a ceiling that reflects “current actual production”

    Oil futures fell sharply Friday, with the U.S. benchmark settling below $40 a barrel after the Organization of the Petroleum Exporting Countries agreed to keep pumping crude at current production levels despite a global glut.

  • Thursday, March 5th 2015 - 13:05 UTC

    Here's what will send oil prices back up again

    Advances in wind and solar power have been significant, but according to EIA, renewables currently account for 11% of the world's energy consumption.

    Oil's rapid decline since August of last year has been dramatic. To listen to some commentators you would also think it is unprecedented and irreversible. Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oil prices will recover, but when they will.

  • Friday, February 6th 2015 - 02:11 UTC

    Rise of the vulture investing class

    During the last oil crash in the 1980’s, around 700 US banks failed after oil prices crashed.

    The oil markets are showing some life, having rallied 11% over a two-day period. But if a bigger rebound is not around the corner, it won’t just be oil companies that will be feeling the pain: their lenders will also face some steep losses if drillers can’t come up with the cash to cover debt payments.

  • Thursday, January 22nd 2015 - 11:36 UTC

    Oil price collapse hurting some more than others

    With weak demand, drillers can negotiate down rig prices. This leads to lower costs, helping drillers stay in the game.

    U.S. oil and gas rig counts dropped to their lowest level in over four years, falling by an additional 74 units for the week ending on January 16. The lower count provides fresh evidence that low oil prices are forcing drillers to pare back operations and slash spending.

  • Tuesday, January 13th 2015 - 08:56 UTC

    The real cause of low oil prices: Interview with Arthur Berman

    Oil prices need to be around $90 to attract investment capital. So, are companies OK at current oil prices? Hell no! They are dying at these prices

    With all the conspiracy theories surrounding OPEC's November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. When discussing harsh truths in energy, no sector is in greater need of a reality check than renewable energy.

  • Thursday, October 23rd 2014 - 21:26 UTC

    Slumping oil prices are putting pressure on U.S. shale operations

    U.S. drilling companies could begin to seriously start removing rigs from operation if prices drop to around 75 dollars per barrel.

    The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. 17, compared to the prior week. There are now 1,590 active oil rigs, the lowest level in six weeks.

  • Wednesday, February 5th 2014 - 22:59 UTC

    US, the world's largest producer of oil approves licenses to export crude to Europe

    According to Reuters BIS authorized licenses to the UK and Italy and another for Germany is in the pipeline

    The United States government has approved at least four licenses to export crude oil to Europe, for the first time in years, showing how companies are breaking through the limits of the export ban established in the 1970s, according to Reuters which learned about the fact from a Freedom of Information Act request.

  • Friday, September 30th 2011 - 23:26 UTC

    Oil prices end September 10% down on poor oil demand in Atlantic basin

    Libya’s return to the market also added to the bearish spin

    Oil prices fell on renewed economic concerns, putting Brent on track for about a 10% drop this month and its biggest quarterly decline in five quarters.

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