Few, if any, shale oil producers are profitable in the current price environment. But unlike previous oil price collapses, oil companies have access to new lines of credit which are helping to keep production high.
The oil markets will be keeping a close eye on interest rates, as any rate hike could push prices even lower.
In our latest update to the State of the Electric Vehicle Sales Infographic, we look at various facets of the U.S. market: Monthly sales, cumulative sales, market share broken down by model, the status of infrastructure, and fuel prices compared to gasoline vehicles.
There’s been a twist in the narrative of falling US oil production. US crude output continues to defy expectations, with the latest government data showing that output actually rebounded in July.
Low oil prices have accelerated the decline of North Sea crude oil production. As companies decommission their fields, those that remain are shouldered with increasing costs and pressure to exit.
After years of regulatory battles, environmental advocacy protests, and more than $7 billion of investment, Royal Dutch Shell is abandoning its costly efforts to extract oil from Alaska’s Arctic waters. But is Arctic oil truly sidelined for good?
After a number of years of relative price stability, the oil market is again dealing with wilder fluctuations on a more regular basis, as technical traders such as the quants play a key role.
U.S. oil production has received a lot of attention lately for stalling out and beginning to decline, but the U.S. shale gas revolution also appears to have also slowed down, at least for now.
If Saudi Arabia follows the UAE's example and scraps fuel subsidies, there will be major impacts on both national economies and global oil demand.
Underinvestment in the oil sector is increasingly looking like a major risk. With the lack of investment in today’s low-priced environment, the industry will likely see a very tight oil market down the road.
U.S. gasoline demand is at near-record highs. With VMT and sales of light duty trucks at their highest points in history and rising at record rates, we could soon be burning more gasoline than ever.
The two OPEC Latin American countries, Venezuela and Ecuador, have always held unique positions in the global oil market because of their geographical advantage of being close to the U.S. But both have seen their importance fade dramatically against the backdrop of rising North American production and the drastic fall in oil prices.
WTI's discount to Brent has held steady as of late around $4-$5 per barrel, and remains around that level far out on both futures curves. But shifting dynamics in the U.S. market, mostly declining output and strong demand growth, are likely to lift WTI back to a premium over European marker Brent.
With U.S. demand surging and exports on the rise, this summer has been a good time to be a refiner.
The Kurds of Iraq can’t be faulted for dreaming of independence. But given the circumstances, they also can’t be faulted for waiting a while longer to declare it.
Despite remarkably high output, less and less of OPEC’s oil is heading to the U.S. For the first half of 2015, U.S. buyers pulled in just 2.6 mbd from OPEC—roughly a third of total U.S. crude oil imports, versus about 55 percent seen at times last decade.
The massive drop in crude oil and gasoline prices has been a huge boon for the American consumer, but it has come at a cost—U.S. motorists have been driving more, furthering a rebound in demand and boosting the country’s reliance on imports of both crude and refined products while also mitigating recent gains in fuel efficiency.
If drivers adhere to the speed limit, they would improve safety, save money on gasoline, and—of course—be that much less likely to get a speeding ticket.
For the first time in a decade, there is genuine buzz about Iran’s prospects and its plans for the future. Matthew M. Reed discusses the many obstacles facing plans to rejuvenating the country's oil industry.
Shale drillers, with diminishing access to inexpensive debt and the cushion of price hedges, face a murky outlook as oil prices seem unlikely to rebound.
Driving is more energy-intense than flying, a University of Michigan study concluded last month, revealing surprising trends about energy consumption in the United States.
Saudi Arabia is now producing oil at the highest level in nearly thirty years. Can it still provide cover in the event of a disruption?
Swings in gasoline prices appear to have an exaggerated impact on consumer behavior: car buyers always seem eager to believe that low gasoline prices are here to stay.
Thanks to ISIS attacks, Libya’s already beleaguered oil industry has seen physical damage to rigs, pipelines, and storage facilities.