U.S. Continues To Be Leading Importer of Oil

Congress voted to lift the 40-year ban on U.S. oil exports in December 2015, while attempting to propel America into a leading oil exporter. Yet, nearly four months later, oil imports reached a three year high according to Bloomberg Business Week. As of March 25, the U.S. imported 7.9 million barrels of oil a day. […]

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Why oil decline could get ugly again

CNBC By Patti Domm Still drilling at four-decade highs, the U.S. oil industry could help drive another price collapse in crude this spring. OPEC Secretary General Abdalla Salem el-Badri told a conference this past weekend that the cartel’s policy has hurt the U.S. shale oil industry and triggered a global reduction in capital spending that […]

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Survival of Fittest as Oil Tumbles Below $65

The National West Texas Intermediate tumbled below US$65 a barrel to the lowest level since July 2009 amid speculation prices have further to drop before Opec’s decision to maintain output slows US shale supply. Benchmark futures in New York and London slumped more than 3 per cent after capping their biggest monthly loss in about […]

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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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Most Economic Basins at Today’s Oil/Gas Prices

Oil and Gas 360 In October, OAG360 examined the internal rate of return (IRR) in two of America’s key shale basins – the Eagle Ford (EF) and Bakken. EnerCom’s analysis showed the Eagle Ford is more economic than its rival basin by a handful of percentage points, no matter the price. Oil prices for West […]

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U.S. Shale-Oil Surge to Continue Amid Price Slump: IEA

Bloomberg By Lananh Nguyen The U.S. shale boom does not appear to be slowing in response to the oil-price slump, with the country’s output of petroleum liquids rising above 12 million barrels a day for the first time, according to the International Energy Agency. U.S. production of crude oil, condensate and natural gas liquids climbed […]

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WTI Price No Deterrent in U.S. Shale Basins

UPI By Daniel J. Graeber NEW YORK, Nov. 11 (UPI) – The benchmark for U.S. crude oil prices was treading water in early Tuesday trading, one day after a report showed few signs of a slowdown in the shale boom. West Texas Intermediate for December delivery was still struggling to break the $80 per barrel […]

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Oil Price Slump a Mixed Bag for World Economy

ECNS Global crude prices have taken a bearish turn over recent months, and given current market conditions the odds of a near-term rebound seem slim. Brent crude for December delivery lost 0.16 percent to close at $85.96 per barrel Friday, leaving the benchmark contract with a 9.32 percent loss, the biggest since May 2012 and […]

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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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