First Month Of Trump: O&G Has A Lot To Smile About

President Donald Trump last week signed into law a repeal of an Obama-imposed regulation that would have required oil and gas companies to disclose their payments to foreign governments. The legislation marked the first instance in 16…

OPEC Assesses The Oil Market 3 Months After Cut

On November 30, OPEC agreed to cut its group output to 32.5 M/bpd. Those cuts were to take effect on January 1. As we discussed last week, early data suggest that most members are complying with the deal, which is set to remain in effect…

OPEC’s First Cut Is The Deepest, IEA Says

All eyes are on OPEC and other major oil producers to determine whether they are complying with production cut agreements that were to take effect on January 1. According to the IEA, they are for the most part complying- at least…

The Oil Market Is Almost Balanced Already, EIA Says

Both the US Energy Information Administration and the International Energy Agency recently released their monthly reports, which both point to a recovering oil market, uncertainty about the trajectory OPEC production cuts, and a…

Iran: The Black Swan Of 2017?

President Donald Trump said his administration was “putting Iran on notice,” following its test of a ballistic missile. The US Treasury Department placed sanctions on 13 individuals and 12 entities which cannot do business with US companies…

2017’s Oil Story: Saudi Arabia & Donald Trump

Saudi Arabia Energy Minister Khalid al-Falih told the BBC recently that the more oil and gas-friendly Trump administration may encourage the Kingdom to increase its oil investments in the US. “President Trump has policies…

Strategic Petroleum Reserve Sales Started In January

On January 25, the US Energy Department’s Office of Fossil Energy awarded contracts for the first of several sales of crude oil from the Strategic Petroleum Reserve. The move was made possible by a Continuing Resolution enacted in…

Even If OPEC Cuts, Challenges Remain

We’ve repeated the refrain “compliance is key” over-and-over again since OPEC signed its production cut deal on November 30. The accord calls for the group’s 13 members to cut output to 32.5 M/bpd starting on January 1 and is…

Debt Of 5 Oil Supermajors May Have Peaked

Recovering oil prices since the end of 2016, and steep cost cuts since the oil price crash started almost three years ago, have coalesced to lessen the need of the world’s five largest oil companies (ExxonMobil, Total, Chevron, BP and Shell) to…

Could 2017 Be A Repeat Of 2014? In One Sense, Yes.

An interesting phenomenon is unfolding in the global oil market as 2017 gets underway, and it has echoes of “déjà vu all over again.” US light tight oil (LTO) production is seen rising in 2017, and a growing number of global and national…

IEA Says “Wait And See” On Oil Prices

It’s way too soon to determine whether OPEC’s 13 members are complying with the production cut that they were supposed to have started enacting on January 1. But the coming weeks could provide more clarity on this issue, even as…

Kashagan Ramps-Up, Oil Market Beware

Up until last fall, the giant Kashagan field in the Caspian Sea was “Exhibit A” of frustration and ostensibly superfluous investment ($50 billion to be precise) in the global oil scene. But after repeated setbacks, it finally commenced…

Will The 2017 Oil Market Series Win An Emmy?

Last fall, we proposed the analogy of a television series to describe the global oil market. We noted that a series does not win an Emmy based only on the quality of one episode, but that of the series as a whole. Looking at the oil sector, until…