No sign yet that anybody is pumping less oil due to lower prices
So far, oil producers in U.S. shale geologies are following the script: In the face of falling oil prices, they’re cutting back on drilling but increasing production. According to Baker Hughes (BHI), the U.S land-based rig count fell by 31 rigs to 1,578 in the week ended on October 10. But companies from Devon Energy to Continental Resources are forecasting 25% or higher increases in production for 2015
Use Goldman’s call for $74 a barrel oil as an indicator of a trading bottom
Yesterday’s Goldman forecast that U.S. crude oil benchmark West Texas Intermediate was headed to $74 a barrel for 2015 took down the price of oil and the prices of oil-related stocks. I don’t think Goldman has any better read on the uncertainties of oil sector fundamentals than any of the other commodities specialists. Where Goldman does have superior information, however, is on trading positions and the structure of the commodities market
Oil gives back yesterday’s rally–watch $80 a barrel
Yesterday’s big rally in oil is being unwound today. U.S. benchmark West Texas Intermediate climbed for December delivery climbed 2% yesterday to $82.09 a barrel. Today the contract is down 1.9% to $80.57 a barrel
Three keys to the price of oil–and the direction of U.S. energy stocks
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Should oil prices be even lower?
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Statoil drops 4% on downgrade on valuation; I’d disagree
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Too much risk and not enough reward in Italy’s ENI
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A shareholder friendly Statoil? And with top prospects for production growth too?
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Ban on U.S. crude exports moves closer to ending with Murkowski call
Pressure continues to build on the Obama administration to end a ban on U.S. crude oil exports that dates back to 1975. Yesterday Alaska Senator Lisa Murkowski, the ranking Republican on the Senate Energy and Natural Resources Committee, called for an end to restrictions on crude oil exports that date back to the Arab oil embargo
Statoil is still a stock for 2014 (and beyond) but it did just get less risky thanks to a competitor
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