Industry News

Oil Will Hit $70 Peak This Year: Raymond James Analyst

Longtime Raymond James energy analyst Pavel Molchanov talks to ThinkAdvisor about his top oil stock picks and whether President Trump can...

Oil jumps to near eight-week high after big draw in U.S. crude stocks

NEW YORK (Reuters) – Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures at over $50 a...

An oil boom is coming sooner than you think

Despite the support of OPEC, crude prices remain in the doldrums again this year. While many initially expected that oil would stay...

The U.S. Natural Gas Market – A Quiet Revolution?

BHI recently reported that the U.S. natural gas rig count had increased to 145 rigs, up a total of 24 rigs...

Citi: Oil Prices Have Bottomed And Are Now Set To Soar

One day after Goldman issued a confused, rambling note in which the bank cuts its 3-month WTI price target by $7.50...

Oil Producers in Consensus to Extend Cuts, OPEC Members Say

“We should all remember that as Saudi Arabia draws closer to the later part of 2018, the announced time of...

Drillers Can’t Replace Lost Output as $100 Oil Inheritance Spent

by Rakteem Katakey (Bloomberg) For oil companies, the legacy of $100 crude is starting to run dry. A wave of projects approved...

Renewable Energy, Growing But Still NOT ready for Prime Time

Although renewables are indeed important for the future of energy, the renewable energy use vs fossil fuels shows it has a long...

Oil is a buy for Citigroup as Goldman says market getting tight

By GRANT SMITH, ALEX LONGLEY AND JONATHAN FERRO LONDON (Bloomberg) — Oil’s slump to a five-month low is driven purely by...

IEA: Global oil supply to lag demand after 2020 unless new investments approved soon

PARIS — Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil...

Citigroup sees $60 oil as OPEC combats roaring U.S. shale

SINGAPORE (Bloomberg) — Citigroup Inc joined Goldman Sachs Group in backing commodities, saying it’s the season to have faith in raw...

Oil set for longest gain since 2012 as Saudis seen extending cut

LONDON (Bloomberg) — Oil advanced for an eighth day in London, the longest gain since 2012, on confidence Saudi Arabia will...

Goldman Sachs still confident in crude

SINGAPORE (Bloomberg) — Goldman Sachs Group Inc. says keeping the faith in commodities is paying off. Four weeks after the bank...

IEA warns of potential shortage of global oil supplies in 3 years

The recent drop in oil industry investment brought on by weak prices threatens to significantly slow supply growth in the long...

Contrarian fund managers expect oil prices to double to $100 by 2018

“Missing barrels” has always been a challenge regarding the IEA analysis. This article provides an intriguing explanation. “Prior to the uptick...

WoodMac: 2017 will be year of ‘opportunity’ for oil firms

OPEC’s production deal and recent crude price strength should make 2017 a more profitable year for upstreams, according to a report...

Trader who called price slump sees OPEC deal boosting crude to $70

LONDON (Bloomberg) — Hedge fund manager Pierre Andurand expects the combined output cut agreed to by OPEC and Russia will boost...

Permian – hottest O&G zip codes, or dangerous bubble?

The wheels on the bus go round and round. Takeaways: 1. With $1B of dry powder on the sidelines for about...

Goldman says OPEC deal probable, raises WTI price forecast

By BRIAN WINGFIELD on 11/21/2016 NEW YORK (Bloomberg) — Goldman Sachs Group raised its oil-price forecast for early next year, saying...

OIL: I Think We’ve Hit Bottom – Dallas Fed’s Director of Research

Oil Price Shocks: Mine Yucel Addresses Denver Energy Group “It’s probably going to be a rough patch for the industry and...

World Bank boosts 2017 crude oil forecast to $55 per barrel

With an 18% return @ $35 oil, our funds look very promising @ $55 oil… The World Bank raised its crude...

The King Sets His Own Ransom

Written by: Jeff Johnson Big Oil, Banks & Wall Street are not always as they appear….. Saudi Aramco first announced the...

43% Of PE Firms Planning Global Oil And Gas Acquisitions In 2017

“Private equity is poised to drive oil deals valued at $100 million plus. Whoever is there to take the scraps off...

Saudi minister says oil at $60 by year-end not ‘unthinkable’

The oil-price could recover to $60/bbl by the end of 2016, said Saudi Arabia’s Energy Minister, just weeks after agreeing to...

U.S. crude oil imports rise during first-half 2016, first increase since 2010

During the first half of 2016, U.S. gross crude oil imports increased by 528,000 barrels per day (b/d), or 7%, compared...

Price Downturn Results in Asset Write-Downs of more than $185 billion

SINCE THE PRICE of oil suddenly dropped in late 2014, nearly 400 public oil and gas companies have written down over...

Oil execs see 2017 as a year of recovery, Deloitte survey finds

The two-year downturn in the oil and gas industry may be coming to a close. An annual survey released by Deloitte,...

Oil extends gain after U.S. crude supply tumbles to 7-month low

Oil extended gains after government data showed U.S. crude inventories declined to the lowest level since February. Crude stockpiles decreased 6.2...

Oil is setting up for a monster rally

Bank of America Merrill Lynch is bullish on the energy sector again. In a note out Tuesday, Savita Subramanian, the head...

Oil Bankruptcies Leave Lenders With ‘Catastrophic’ Recovery Rate

U.S. oil bankruptcies haven’t been this “catastrophic” for lenders in a long time, in what may be the worst bust of...

Texas company to purchase Yates Petroleum in $2.5B deal

One of the largest oil and gas producers in the U.S. is purchasing a privately-held New Mexico company and some of its subsidiaries in a...

Market Alert: Oil majors’ debt climbs to record high

The total debt held by four of world’s largest oil companies has hit a record high. According to data collected by...

M&As are back as oil industry shifts from survival to growth

Multi-billion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July...

Haynes and Boone, LLP Oil Patch Bankruptcy Monitor

Haynes and Boone has tracked 90 North American oil and gas producers that have filed for bankruptcy since the beginning of...

2016 on pace for worst E&P year since Great Depression, but improvement seen

According to the latest mid-year forecast assembled by World Oil magazine, only 14,430 wells will be drilled in the U.S. this year, on par with...

Capitalizing on opportunities: Private equity investment in oil and gas

Our survey reveals PE funds are aiming to raise more money to invest in the industry. However, we also found a...

U.S. crude oil exports are increasing and reaching more destinations

The number of countries receiving exported U.S. crude oil has risen since the removal of restrictions on exporting U.S. crude oil...

Oil at five-week high as OPEC sources, Russia, talk of cooperation

Oil settled up nearly 2 percent on Tuesday, hitting five-week highs for a second straight day as sources at OPEC spoke...

Oil tycoon Pickens boosted energy holdings as rigs bottomed out

Oil tycoon T. Boone Pickens boosted the value of his energy holdings by more than a third in the second quarter,...

U.S. rig count up 17 this week to 481, Texas up 13

The number of rigs exploring for oil and natural gas in the U.S. increased by 17 this week to 481. A...

U.S. operators need $60 oil to stage real comeback, IEA says

While shale drilling in the U.S. is on the rise again, prices need to climb nearer to $60/bbl for U.S. producers to...

IEA: Crude Production to Fall Behind Demand

‘Our balances show essentially no oversupply during the second half of the year,’ International Energy Agency says The world’s production of...

The Real-Estate Magnate Who’s Riding the Hottest Stock in the Oil Patch

Investors have been sifting through the rubble of the oil bust in search of bargains ever since crude prices collapsed two...

Kuwait is hiking gas prices by up to 83%

Drivers in Kuwait may be in for a serious case of ‘sticker shock’ as gas prices soar next month. The price...

Crude slump sees oil majors’ debt burden double to $138 billion

HOUSTON (Bloomberg) — When commodity prices crashed in late 2014, oil executives could look at their mining counterparts with a sense...

Why oil bears shouldn’t count on U.S. shale rebound

Oil market bears argue that rebounding production in U.S. shale regions will add to the global glut of crude, slowing the...

State Of The Oil Market

US production decline is accelerating and not as resilient as initially purported. The global oil market is now undersupplied. Based on...

Forget The Glut – This Is Why Oil Prices Will Rise

The rate of oil production decline in the United States will accelerate in the 3rd quarter. It has already started. Per...

Oil prices set to peak sooner than expected on supply shortage, Barclays says

Barclays is the latest bank to raise its forecast for medium-term oil prices, saying it now expects them to peak sooner...

U.S. oil companies closer to balancing capital investment with operating cash flow

Although the crude oil price decline since 2014 has led to significant reductions in operating cash flow for U.S. oil companies,...