Forecast ///

Shell shakes up oil trading world with brash buying sprees

The giant tankers anchored along the Scottish coast in the Firth of Forth weren’t going anywhere. They were just providing floating storage because there was no demand for their cargo, North Sea crude oil.

Goldman sees cheaper energy from border tax, but not in U.S.

A proposed U.S. border-adjustment tax would make fuels that provide half the world’s energy cheaper -- for everyone except Americans.

ABB wary of hailing recovery after first order growth since 2015

ABB Ltd. said the first signs of order growth in two years are not enough to call a turnaround as dwindling demand from the oil and gas industry and an increasingly uncertain political situation weigh on the outlook.

After slashing costs, Statoil ready to boost spending

Statoil ASA, Norway’s biggest oil company, is ready to increase investment again as it reaps the benefit of drastic cost reductions it pushed through after oil’s collapse -- cuts that it vowed to deepen even further.

Top oil trader sees oil rattled as Trump makes market fret

Donald Trump and global crude producers are set to take prices on a bumpy ride this year, according to the world’s biggest independent oil trader.

U.S. may export more oil in 2017 than four OPEC nations produce

U.S. crude exports are poised to surpass production in four OPEC nations in 2017 and may grow even more if President Donald Trump honors pledges to ease drilling restrictions and maximize output.

Anadarko losses larger than expected, as industry tries to recover

Anadarko Petroleum Corp. followed Exxon Mobil Corp. and Chevron Corp. in missing Wall Street earnings expectations for 2016’s final quarter, in another sign that the oil industry’s financial pain isn’t over.

Subsea sector set to increase exports in 2017, Subsea UK survey says

British subsea companies are expecting to increase overseas activity in the next 12 months, according to a survey conducted by industry body, Subsea UK.

Federal Reserve economists expect an increase in Texas drilling this year

Chairman Christi Craddick met with leadership at the Federal Reserve Bank of Dallas (Dallas Fed) this week to discuss this year's outlook for the state's oil and gas industry. According to economists with the Dallas Fed, Texas oil and gas drilling activity will increase throughout this year.

‘Nasty year’ leaves oil investors wary as profits fall short

Crude prices may have stabilized, but it’s still not a great time to be Big Oil. Investors eliminated about $53 billion in market value for producers over three days as the twin titans of U.S. oil posted their worst annual financial outcomes in decades.

DNV GL: Diversification, consolidation and ongoing efficiency measures will be hallmarks of 2017

New research by DNV GL, the technical advisor to the oil and gas industry, shows oil and gas companies seeking to rebalance business portfolios and reorganizing for a new era.

Resignation threatens to bring U.S. pipeline rulings to halt

A U.S. energy regulator filed his letter of resignation on Thursday. And with that letter, he may have just brought federal decisions on multi-billion-dollar natural gas pipelines to a halt.

Trump’s 20% import tax good news for Canadian oil patch

U.S. President Donald Trump’s controversial 20% tax on imports from Mexico to pay for a border wall would come as a second gift in less than a week for Canada’s oil patch.

Too much ain’t enough as investors bet on oil market rebound

Hedge funds are showing they have some faith in OPEC.

Brent oil falls as investors await signs of production curbs

Brent oil declined as investors looked for signs of compliance by OPEC and other producers with an output-reduction accord.

LNG use surging while idled spending may trigger next spike

Liquefied natural gas prices falling to the lowest in a decade last year spurred fresh demand while suppressing investment in new production, potentially leading to shortages and price spikes next decade, according to a new Bloomberg New Energy Finance (BNEF) report.

Oil discoveries seen recovering after crashing to 65-year low, Wood Mac says

The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good news: It can probably only get better from here.

North American E&P companies wager big, hedging 24% of 2017 production

North American E&P companies have more than tripled hedging protection for their 2017 production since April 2016, with 24% of total 2017 production now hedged, according to new analysis from IHS Markit.

Gulf energy companies reduce borrowing 26% as oil prices surge

Energy companies in the Middle East reduced their borrowing by 26% in 2016 as an increase in oil prices late in the year provided revenue needed for exploration and production.

Investors betting on oil price drop flee as production cuts near

Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market.