Remove Gas Remove Nigeria Remove Oil Prices
article thumbnail

Opinion: The Saudi Oil Price War Is Backfiring

Green Car Congress

Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. Is Saudi Arabia losing the oil price war? “It

article thumbnail

Opinion: The Current Oil Price Rally Is Reaching Its Limits

Green Car Congress

Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. That has sparked a renewed sense of optimism among oil traders.

article thumbnail

Increase in US rig count will not cap oil prices

Green Car Congress

The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.

article thumbnail

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

The EIA even predicts that OPEC’s net oil exports (excluding Iran) could fall to as low as $380 billion in 2015. With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Nigeria’s dilemma.

article thumbnail

RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

Green Car Congress

A fourth volume examining energy security in Nigeria and other nations in the Gulf of Guinea is scheduled for later publication. Notable examples of nations where security shortfalls are significantly impeding investment and production are Nigeria; Iraq; Sudan; and, most recently, Libya. Additionally, U.S.

Oil-Sands 225
article thumbnail

IHS Markit identifies 5 billion barrels of oil equivalent in short-cycle opportunities outside North America

Green Car Congress

New energy research from business information provider IHS Markit has identified more than five billion barrels of oil equivalent (BOE) in numerous smaller, previously bypassed, or underperforming reservoirs outside North America that offer oil and gas operators a shorter-cycle path to production than new, frontier projects in undeveloped areas.

article thumbnail

Saudis Expand Price War Downstream

Green Car Congress

The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. As if being the world’s biggest exporter of oil was not enough, the desert kingdom is now looking to conquer the refining sector as it has quickly become the fourth largest refiner in the world.