This week the EIA released the first look at its new method for reporting United States crude oil production.
It revealed two things.
First, the EIA’s prior method had been significantly overstating U.S. oil production so far in 2015.
Second, U.S. production appears to have started declining back in April. This is...
Imagine if you will a street on which there are three identical houses.
I’m not talking about similar houses.
Not houses that look kind of the same.
I’m talking about identical houses.
Built the same year, in the same condition, with the same design and square footage. Even the colors are the same.
If...
American oil production is set for a fast pullback, says Chris Theal, founder and CEO of Canadian energy fund Kootenay Capital.
And that has two important implications
America is now the swing producer in the global oil market.
If the bottom in oil prices wasn’t set Nov. 5, it’s very, very close.
“We...
You can read a lot on the breakeven price for oil right now. I think a lot of what you read now is missing the point--because I think the breakeven price for oil isn't all about economics. There's a human element to this (and every) trade.
I think the breakeven...
For the first time since 1949, the United States is poised to become a net exporter of petroleum products, according to the Petroleum Supply Monthly report for November put out by the U.S. Energy Information Administration.
Through the first nine months of 2011, the U.S. exported 753.4 million barrels of...
Low prices, high discounts and high condensate prices are conspiring to make this The Week From Hell for Canadian heavy oil producers. Heavy oil prices are now at the bottom of the barrel.
And not to sound like a traitor, but there is a very simple way for investors to...
Since oil really started crashing, the media can only talk negatively about oil.
These are the same talking heads who had no clue about the impending 50% plunge in prices. Why do we listen to them—instead of paying attention to facts?
Here is one fact….US gasoline and oil demand is surging.
That...
Is this downturn in oil prices going to be different for investors? I think it might. In fact, I think North American energy companies have a good chance of withstanding this downfall in prices than any other downturn of the last 40 years.
You wouldn’t know it by looking at...