Remove America Remove International Remove Oil Prices Remove Price
article thumbnail

IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

Green Car Congress

Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 This resumption of production may accelerate if WTI remains above $30 per barrel—a price that allows operators to cover their operating costs and that reflects improved storage availability.

Oil 186
article thumbnail

Is A Second OPEC Cut In The Cards?

Green Car Congress

OPEC’s coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.

article thumbnail

IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

Green Car Congress

The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.

Oil 199
article thumbnail

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

OPEC (Organization of the Petroleum Exporting Countries) has been the most talked about international organization among investors, analysts and international political lobbies in the last few months. Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC.

article thumbnail

Opinion: Could WTI Trade At A Premium To Brent By Next Year?

Green Car Congress

A flood of bearish news has pushed down oil prices to their lowest levels in months, with WTI nearing $45 per barrel and Brent flirting with sub-$50 territory. With a bear market back, there is pessimism throughout the oil markets. However, the WTI/Brent spread has shrunk more dramatically since the collapse in oil prices.

article thumbnail

Junkyard Find: 1987 Chevrolet Sprint ER

The Truth About Cars

What was the most fuel-efficient (mass-produced, internal combustion-powered, highway-legal, non-gray-market, four-wheeled, et freakin' cetera) new car available in the United States during the 1980s? If you want to be picky, the 198 6 Sprint ER was the gas-mileage king of 1980s America, rated at 44 city and 53 highway miles per gallon.

Chevrolet 105
article thumbnail

IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

Green Car Congress

Current global total liquids oil demand growth is at similar levels to what was recorded during the 2003 to 2007 commodity super-cycle, referred to as the “golden age” of refining. At present, current global total liquids oil demand is approximately 100 million barrels per day, the report says. —Spencer Welch.

Oil 276