It’s pretty much common knowledge that Socialism has destroyed the economy of Venezuela despite its abundance of oil. But we don’t hear much about its neighbor Guyana. One might guess that if Venezuela has oil Guyana might be similarly blessed. And it might finally be beginning its own oil boom. Today’s article by Viktor Katona for Oilprice.com looks at Guyana’s coming oil boom.Â
Is Guyana Prepared For An Oil Boom? Read More »
Although the U.S. oil situation is on the upswing there are a variety of factors affecting a number of other countries like Iran, Iraq, Saudi Arabia, Venezuela, and Russia, that could lead to instability in the world oil market. In today’s article by Nick Cunningham of Oilprice.com we will look at a few of the possibilities
Oil Market Fears: War, Default And Nuclear Weapons Read More »
The world’s most important industry has been carrying on without any significant changes in its day to day routine for far too long.  But now, the new tech on the block has its sights set on the multi-trillion-dollar oil and gas sector. It’s official: Blockchain technology has infiltrated Big Oil. The hype behind blockchain has reached a full-blown frenzy. And for good reason.
Why The Next Oil Boom Will Be Fueled By Blockchain Read More »
Oil production has risen by 5 million barrels per day (bpd) since 2010, an increase of nearly 100 percent. New technology, particularly techniques in shale oil drilling, has opened up vast new opportunities for oil and gas companies.
The proof is in the numbers. In 2017, the United States averaged 9.3 million bpd. This year, the EIA predicts that U.S. oil and gas production will reach record levels, averaging 10.3 million barrels bpd to surpass the record reached in 1970 (9.6 million bpd).
Clean Oil That Only Costs $20 per Barrel? Read More »
The steady decline of the U.S. dollar has helped drive up crude prices for weeks, but that came to an abrupt halt last week. A rebound for the greenback led to a steep decline in oil prices on Friday.
Oil Prices Ravaged By Financial Turmoil Read More »
As we all know, gas and oil prices are a major component of inflation so a spike in oil prices could have a serious effect on prices overall. From 2012-2015 oil prices peaked several times around $100 per barrel but then in 2016 they fell dramatically to around $30. In 2017 they recovered slightly to hover around their long term average price of $43. Today Irina Slav of Oilprice.com looks at the possibility of oil prices returning to the $100 level.Â
Could Oil Go to $100 a Barrel by 2019? Read More »
The Permian Basin is the largest petroleum-producing basin in the United States and has produced a cumulative 28.9 billion barrels of oil and 75 trillion cubic feet of natural gas. Currently, nearly 2 million barrels of oil a day are being pumped from the basin. It has been estimated that 43 billion barrels of oil and 18 trillion cu. ft. of gas remain; however, some experts claim the content is much bigger than expected, half a trillion barrels or even 2 trillion barrels. Eighty percent of estimated reserves are located at less than 10,000-foot (3,000 m) depth. Advances in hydrocarbon recovery such as horizontal drilling and hydraulic fracturing aka. “fracking” have expanded production into unconventional, tight oil shales… But is it possible that the current Bonanza in Oil production could come to a rapid end?
Is Peak Permian Only 3 Years Away? Read More »
An unexpected disruption in Oil supply could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. Geopolitical tension has been largely irrelevant since the collapse of oil prices in 2014, but …
The 5 Countries That Could Push Oil Prices Up Read More »
While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field.
The “Amazon Effect” Is Coming To Oil Markets Read More »
In the following article Andreas de Vries and Dr. Salman Ghouri of Oilprice.com discuss the possibility of oil price spikes crippling the oil industry. At first blush that seems highly unlikely. Â After all the oil industry is critical to powering the world and although there have been bumps along the road over the last 100 years the oil industry has always weathered the storm. But let’s look at what they have to say.
Could the Next Oil Price Spike Cripple The Industry? Read More »
