Although the futures strip doesn’t reflect it, many anticipate a much tighter oil market in the fourth quarter. Jeff Currie of Goldman Sachs has predicted that prices will reach $110 by the third quar...
Tag: oil price
No Reason For Big Adjustments Amid Strong Demand, Price Environment
Indian Prime Minister Narendra Modi, center, greets the delegates at the ‘India Energy Week 2023’ in … [+] Bengaluru, India, Monday, Feb. 6, 2023. Over 500 energy industry heavyweigh...
Are Triple Digit Oil Prices In Your Future?
Jeff Currie at Goldman Sachs made headlines recently predicting higher commodity prices for 2023, including “’Does anyone remember what happened to oil prices from January of ‘07 to July of ‘08?’ Curr...
It’s Not Always About You
The recent decision by OPEC+ to cut production quotas by 2 million barrels per day was definitely attention grabbing, and not in a good way. Coming just a month before the U.S. midterm elections and d...
California’s Gasoline Price Blowout Is A Problem Of Its Own Making
SACRAMENTO, CALIFORNIA – SEPTEMBER 18: California Gov. Gavin Newsom speaks during a news conference … [+] at the California justice department on September 18, 2019 in Sacramento, Californ...
Spread Of Unrest To Iran’s Oil Industry A Milestone
TEHRAN, IRAN – JUNE 03: Iranian President Ebrahim Raisi delivers a speech on the eve of the 33rd … [+] anniversary of Ayatollah Khomeini’s death at his grave outside Tehran, on June ...
The European Energy Crisis Is Transient And The Response Should Be Also
LUBMIN, GERMANY – FEBRUARY 02: The receiving station of the Nord Stream 2 gas pipeline stands on … [+] February 02, 2022 near Lubmin, Germany. (Photo by Sean Gallup/Getty Images) Getty Ima...
Biden To Oil Industry: “I Don’t Understand Economics”
American comic, film actor and activist, Irwin Corey, performs on stage at Lulu White’s jazz club, … [+] Boston, USA, 29th August 1978. (Photo by Barbara Alper/Getty Images) Getty Images I...
Enverus Lowers Oil Price Forecast, Rig Count Drops Amid Record Industry Profits
A new report from energy analytics and intelligence firm Enverus projects oil prices to continue to … [+] decline through the end of 2022. getty In the latest signal of a faltering oil market, e...
OPEC+ Quotas And Seinfeld Car Rentals
JEDDAH, SAUDI ARABIA – JULY 15 US President Joe Biden (L) being welcomed by Saudi Arabian Crown … [+] Prince Mohammed bin Salman (R) at Alsalam Royal Palace in Jeddah, Saudi Arabia on July...
Biden Under Pressure To Restrict Oil Exports For All The Wrong Reasons
WASHINGTON, DC – JULY 16: President Joe Biden takes reporters questions on the south lawn of the … [+] White House on July 16, 2022 in Washington, DC. President Biden just returned from vi...
Can The Saudis Give Biden Long-Term Oil Price Stability?
Saudi Minister of Energy Prince Abdulaziz bin Salman al-Saud (Photo by KARIM SAHIB / AFP) (Photo by … [+] KARIM SAHIB/AFP via Getty Images) AFP via Getty Images President Joe Biden is going to S...
A Strong Oil Industry Is Not Sustainable In Biden’s Confusing Policy Environment
WASHINGTON, DC June 30, 2021: President Joe Biden shakes hands with White House Chief of Staff Ron … [+] Klain before delivering remarks during a meeting discussing the devastating intersection ...
Dan Yergin Talks Oil, Gas, Putin, And Living His Book, ‘The New Map’
Dan Yergin, vice chairman of S&P Global, during a Bloomberg Television interview on day three of the … [+] World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, May 25, 2022. Photo...
How Long Will The Era Of $5.00 Gasoline Last?
Gasoline $5.00 Sign getty A radio host asked me this week how long I thought the era of $5.00 gas at the pump would last. I replied that it would likely last as long as it takes for the price to rise ...
Though Ethanol Might Appear ‘Cheaper’ Than Gasoline, Let’s Do The Math On Energy Content
Forty percent of America’s corn crop ends up in our gas tanks. getty Tempted by lower priced ethanol? Keep in mind that the corn-based moonshine contains 30% less energy by volume than gasoline....
OPEC+ Shouldn’t Kick Russia Out Of The Group
Vienna, AUSTRIA: The headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in … [+] Vienna. AFP PHOTO/JAKUB SUKUP (Photo credit should read JAKUB SUKUP/AFP via Getty Image...
Why Gasoline Prices Are Only Going Higher From Here
FILE – The gasoline price board is shown at a gas station in Menlo Park, Calif., March 21, 2022. A … [+] majority of Americans say they don’t blame President Joe Biden for high gasol...
Up, Up And Away – Energy Prices Continue To Soar
Detail of a hand holding a fuel pump at a station getty The Henry Hub index price for U.S. natural gas dipped below $6.50 per Mmbtu on Monday, leading to some optimism for a little price relief for ma...
Biden’s Wasteful SPR Release
Gasoline price increases typically lead to decreased approval ratings for incumbents no matter the … [+] political party. getty President Biden’s release of 180 million barrels, one million per ...
Democrats File New Tax On Alleged ‘Windfall Profits’ By Big Oil
WASHINGTON, DC – APRIL 28: Sen. Sheldon Whitehouse, D-R.I., attends the Senate Judiciary Committee … [+] confirmation hearing in Dirksen Senate Office Building in Washington, D.C., on Wedn...
Elon Musk IDs The Global Energy Problem, But Who Has The Solution?
Tesla CEO Elon Musk gestures as he arrives to visit the construction site of the future US electric … [+] car giant Tesla, on September 03, 2020 in Gruenheide near Berlin. (Photo by Odd ANDERSEN...
Energy Dominates The Geopolitical Equation In Russia/Ukraine Dispute
BERLIN, GERMANY – FEBRUARY 07: German Social Democratic party SPD candidate for chancellor Olaf … [+] Scholz looks on during a two-day party meeting on February 07, 2021 in Berlin, Germany...
Oil Is Fashionable Again In The Banking World
FILE – Executive Director of the International Energy Agency Fatih Birol speaks Wednesday, Nov. 13, … [+] 2019 in Paris. The head of the International Energy Agency has blamed Russia for m...
U.S. Oil Price Tops $90 For First Time Since 2014
Crude Oil, Fossil Fuel, Price, Growth, Graph getty We’ve had two major boom/bust cycles since then, but 2014 was the last time the price for a barrel of West Texas Intermediate topped the $90 mark. Th...