Tag: Cash

Summer Heat

The summer heat has brought plenty of excitement to the oil and gas industry. Feuding investment companies argue if oil demand will ever reach pre-pandemic levels, natural gas prices fall to 25 year lows, and one shale pioneer had to take a break from the heat and file for bankruptcy protection all while employment rates began to skyrocket.

You’re Hot Then You’re Cold…

Just last week we reported that JP Morgan was predicting $100 Oil “in the observable future” and “could see the price of oil hit $190 a barrel by 2025”. Well, those predictions have been revised in the past week and now they predict “oil may never hit $100 again” as a result of the price war, the ongoing pandemic, decimated demand, and U.S. Shale resilience. Talk about being indecisive! In other more exciting news, two leading oil price reporting agencies launched a new U.S. crude benchmark to rival WTI, how cool!

Unprecedented Fall of U.S. Oil

As the world continues on its long road to recovery from the global pandemic, oil demand is slowly on the rise. Unfortunately, domestic oil production is falling fast with current rates the lowest they have been since March of 2018 and predictions for July would put levels at their lowest since 2013. Has the price war and pandemic destroyed the U.S. Oil Industry?

Not Out Of The Woods

It was a rough end to a week in oil and gas that started so well. After weeks of climbing, oil prices will experience their first weekly loss in seven weeks just as the United States announced an official recession. Things are moving forward but we are not out of the woods just yet.

One Day at a Time. One Step at a Time.

Global oil prices have risen to their highest levels since March on talks of OPEC+ planning to extend production cuts during their Saturday meeting. After almost a week of wrangling, Saudi Arabia and Russia clinched a deal with Iraq over its compliance, paving the way for the agreement’s extension into July instead of tapering them. As the world attempts to return to a new normal, we must take things one day at a time, one step at a time.

Market Take Over

Early signs of growing demand for crude oil have prompted market optimism that has led to increased WTI buying, setting the stage for the benchmark’s best-ever monthly performance regardless of domestic storage hitting their highest levels in history. With oil surging, there seems to be renewed optimism in the energy industry.

Trusting the Process

This time last month WTI prices went negative for the first time in history as the May front month contract expired. Instead of plunging into negative territory again this month with the expiry of the June contract, prices remained strong and rallied into the thirties for the first time since March. Does this indicate the worst is over for the global oil industry?

Steps in the Right Direction

For the first time since January, crude oil inventories declined indicating the world has begun its journey on the road to a slow and fragile recovery. While this does not mean the global oil and gas industry is out of the weeds just yet, this week’s events show steps in the right direction.

The Road to Recovery

Global Economies are officially shrinking with the release of first quarter data, shell wells are being shut-in, global crude has nowhere to go, and according to new EIA data, the United States actually produced more energy than it consumed for the first time since the late 1950s in 2019.

All Dressed Up With Nowhere To Go

Global Economies are officially shrinking with the release of first quarter data, shell wells are being shut-in, global crude has nowhere to go, and according to new EIA data, the United States actually produced more energy than it consumed for the first time since the late 1950s in 2019.

So Much For Black Gold

The change in your pocket or between your couch cushions became more valuable than a barrel of oil on Monday as prices went negative for the first time in history. Historically low prices have prompted producers in North Dakota to shut-in their wells, regulators in Oklahoma and New Mexico to allow producers to shut-in wells without consequence, but Texas is still hesitant to take action.