US Shale to OPEC: We Don’t Care!

Yahoo U.S. oil production could increase next year to levels not seen since the 1970s, despite OPEC’s efforts to muscle out American shale producers. While U.S. oil production is predicted to rise by another million barrels a day during 2015 from the current 9 million barrels a day, forecasts are coming down on expectations that […]

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OPEC Decision Means ‘Pain Train’ For U.S. Oil Industry

 USA Today By Kevin McCoy OPEC’s decision to maintain oil-production levels could threaten financing for some U.S. oil industry expansion and trigger market consolidation in an only-the-strong-survive scenario, economists and analysts said Friday. The Organization of the Petroleum Exporting Countries’ Thanksgiving Day announcement that it would not cut production in response to weaker prices is […]

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OPEC Needs to ‘Wake Up’ to Shale Revolution

CNBC By Holly Ellyat The Organization of Petroleum-Exporting Countries (OPEC) is facing a “shale-tinged” reality and needs a “wake-up call,” energy analysts have warned. Analysts in Citi’s commodities research team warn that the shale gas and oil revolution in the U.S. has been ignored for too long by OPEC, the powerful group of 12 global […]

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Oil Near 4-Year Low as OPEC Seen Resisting Cutting Output

Fuel Fix West Texas Intermediate crude dropped for a third day as U.S. oil inventories gained unexpectedly. Brent rose in London. Futures fell as much as 1 percent in New York. Ecuador and Venezuela will ask members of the Organization of Petroleum Exporting Countries to reduce excess output, an Ecuador official said. U.S. crude inventories […]

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Saudi Oil Production Increase Won’t Affect Utica Development

Crain’s Cleveland Business By Andrew Thomas Much has been made in the press lately about Saudi Arabia increasing its oil production in response to the recent oil price slide. International oil prices have held steady at over $100/barrel for years, notwithstanding a deep and lengthy worldwide recession. But oil prices finally started to drop this […]

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Saudis continue to squeeze OPEC profits

By The Associated Press VIENNA — Saudi Arabia showed little concern for fellow OPEC members by unilaterally cutting its oil prices to the United States this week, a move that casts doubts on the cartel’s credibility and its ability to find a common plan to stabilize the slumping energy market. And while OPEC struggles to […]

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U.S. production disrupts global flows of crude oil

By Bloomberg News Things are slowing down at the nation’s largest oil-import hub. The Louisiana Offshore Oil Port, which six years ago imported more than 1 million barrels a day from countries including Saudi Arabia, Nigeria and Iraq, is receiving just half of that from overseas. The trend is reflected at harbors from Mississippi to […]

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Dollar Climbs to 7-Year High as Energy Stocks, Oil Tumble

Bloomberg By Nick Gentle and Stephen Kirkland The dollar rose to an almost seven-year high versus the yen as growth in manufacturing underscored the strength of the American economy. Most U.S. stocks fell as oil slid to its lowest level in more than two years. The Bloomberg Dollar Spot Index was up 0.7 percent by 5 […]

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Could shale help US beat Saudi Arabia as top oil producer?

Katy Barnato The fracking revolution could open the way for the U.S. to overtake Saudi Arabia as the world’s number one oil producer, energy research provider Platts said in a report on Tuesday. “Another clear theme this year remains the dramatic upheaval, and for most, growth, that the American shale-led boom continues to thrust on […]

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The Oil Price Swoon Won’t Stop The Shale Boom

STILL PROFITABLE AT LOWER PRICES, FRACKING IS RIPE FOR TECHNOLOGY GAINS THAT WOULD HELP IT WEATHER FURTHER DECLINES. The Wall Street Journal By Mark P. Mills With oil prices sliding, energy investors are worried, while Saudi Arabia and Russia no doubt hope, that low prices will cap America’s boom in shale-oil production. Green-energy types sit […]

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