Industry Trends ///

Heavy Canadian crude falls to record low

Heavy Western Canadian Select crude fell to a record low as several oil producers shut in production and some demand the Alberta government intervene to mandate across-the-board cuts.

Oil and gas diverge as inventories move in different directions

Crude oil and natural gas prices are moving in opposite directions, with traders in both markets spooked by inventories.

Cheniere bets $15 billion on world gas demand despite tariff

A Cheniere LNG manager climbs metal steps under a blazing sun until he’s standing atop a 180-ft-high tank in Corpus Christi, Texas. It’s big enough, he proudly points out, to hold a jumbo jet placed diagonally.

Repsol to re-use existing North Sea platform

Oil companies have pushed through draconian cost cuts during the recent industry slump, but they’re not done yet.

Natural gas soars 20% in U.S. on concerns about winter supplies

Natural gas soared the most in nine years as forecasts for lingering U.S. cold spurred concern that supplies may not be adequate to meet demand over the winter.

Crude crash will test majors’ devotion to spending discipline

For more than a year, the world’s biggest oil companies have been saying that by keeping a tight rein on spending today, they’ll be fortified against the next crude-price collapse. What they didn’t expect was for that caution to pay off so soon.

OPEC sees demand for its crude declining as rivals surge

OPEC sees demand for its own crude falling even faster than expected in 2019 as a slowing global economy crimps demand and rival supplies surge.

In OPEC heartland, billions spent to boost oil output

OPEC members are considering cutting production, but in the group’s Middle East heartland producers are spending billions to add output capacity for the long term.

Shale cash gusher sees EOG join $1 billion-a-quarter club

The well-heeled, buttoned-down world of international oil now has competition from cowboy boots and jeans.

EIA: New Gulf of Mexico projects expected to reverse gas production declines

Natural gas production in the U.S. Federal Gulf of Mexico (GOM) has been declining for almost two decades. EIA expects nine new natural gas production projects to start in 2018 and another seven to start in 2019.

Longest oil slump in four years signals growing worldwide surplus

Oil notched its longest losing streak in four years as expanding U.S. stockpiles overshadowed supply concerns from the Persian Gulf to Latin America.

Russian oil may gain a lot by giving a little on OPEC U-turn

Russia’s oil industry is feeling the pressure of a possible return of production caps. In fact, by sacrificing a fraction of output, the companies could see their stocks rise.

Iran sanctions may not cause oil shortage, Nigeria minister says

U.S. sanctions on Iran won’t necessarily translate into a global shortage of oil, according to Nigerian Petroleum Minister Emmanuel Ibe Kachikwu.

Trump says "fragile" oil market behind decision on Iran waivers

President Donald Trump said the “fragile” global oil market was a key reason his administration decided to extend waivers this week to eight countries allowing them to continue importing Iranian oil in violation of new U.S. sanctions.

Colorado oil producers rise as voters reject drilling limits

Colorado oil producers rise as voters reject drilling limits

End is near for "frac holiday" as Permian readies for 2019 boom

The oil fields of West Texas don’t sit still for long.

Spirit of Colorado applauds defeat of Proposition 112

Spirit of Colorado, an independent expenditure committee tasked with defending Colorado’s economic well-being, tonight delighted in the defeat of Proposition 112, the job-killing “setbacks” measure, which would have ended oil and gas development in Colorado.

Election Day Special: Lion’s share of U.S. oil output comes from Trump states

Today, Nov. 6, voters across the United States have gone to the polls to elect a wide assortment of federal, state and local officials. Given the potential for shifts in balances-of-power, much is at stake on a variety of issues and policies, including those affecting oil and gas.

Exxon chief says size doesn't matter in potential M&A deals

The world’s biggest public energy company doesn’t worry about size when it comes to potential deal-making.

Crude could touch $100/bbl if supply crunch worsens

Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup.