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Oil Price News Headlines

OilPrice.com Daily News Update
All the latest in Oil, Gas, Commodity news and analysis

U.S. Shale Production May Be Plateauing
by Ron Patterson
26 May 2018 at 4:00pm
I have updated my scenarios for U.S. LTO output, based on both EIA tight oil output data and average well profile data from Enno Peters? shaleprofile.com. I have also created a scenario for the Niobrara shale oil play and for ?other U.S. LTO? which excludes the Permian Basin LTO, Eagle Ford, North Dakota Bakken/Three Forks, and the Niobrara. (Click to enlarge)niobrara play The recent Niobrara wells have an estimated ultimate recovery (EUR) of 143 kb. The oil price scenario below is used for all of the scenarios.?

This Battery Breakthrough Could Change The World
by Robert Rapier
26 May 2018 at 2:00pm
Last week I happened to catch an intriguing documentary on NOVA called Search for the Super Battery. The topic is of intense interest to me, as the development of better, cheaper batteries is critical for both the future of electric vehicles (EVs) and for the future electrical grid. Battery improvements are needed to increase the range of EVs, and cheaper batteries can help drive down the costs of EVs so more consumers can afford them. For the electrical grid, increased penetration of renewables poses some challenges because?

Miners Are Looking To Ramp Up Lithium Production
by OilPrice.com
26 May 2018 at 12:00pm
A salar-size gap has opened up between bulls and bears in the lithium market. In March Morgan Stanley sent shares of lithium companies tumbling after the investment bank forecast overproduction of the battery raw material and plunging prices. Some in the industry characterized the New York bank?s assessment as little more than a hit job to help a client pick up assets cheaply. Miners pointed to the complex nature of lithium mining leading to production ramp-up problems and processing bottlenecks. The industry could also point to the fact,?

Car Giants Focus On Lithium Battery Production
by Jon LeSage
26 May 2018 at 8:00am
Years ago, the great automotive ?chicken or egg? debate centered on which technology would lead the way: the electric vehicle or the charging infrastructure. Now it?s all about the lithium battery, as automakers like Tesla, General Motors, Daimler, Toyota, Nissan, and BMW cut deals for large scale battery production. They?re also seeing huge potential in the energy storage capacity available through the lithium battery packs they?re already building on their own or through supplier alliances. There's been a wave of?

Saudis Say Aramco IPO ?Most Likely? In 2019
by Tsvetana Paraskova
25 May 2018 at 6:00pm
Saudi Aramco?s much-hyped initial public offering is ?most likely? to take place in 2019, Saudi Energy Minister Khalid Al-Falih said on Friday, likely confirming that plans for the IPO have been pushed from this year to next. ?We?re simply waiting for a market readiness for the IPO,? al-Falih said at the St. Petersburg International Economic Forum in Russia. Since the Saudis initially floated the idea to list 5 percent in their state oil giant, officials had been insisting that the IPO will take place in the?

Rally Unwinds As Russia, Saudis Aim To Increase Oil Output
by Jim Hyerczyk
25 May 2018 at 4:00pm
U.S. West Texas Intermediate crude and internationally-favored Brent crude oil are trading sharply lower on Friday, putting the market in a position to finish the week lower for the first time since the week-ending April 27. The market is being pressured by the possibility of increased production from OPEC for the first time since 2016. This news is offsetting potentially bullish supply disruptions from both Venezuela and Iran. Also worrying bullish crude oil traders was a sustained rise in gasoline inventories just ahead of the Memorial Day holiday?

Putin: Russia Could Consider Liberalizing Gas Exports
by Tsvetana Paraskova
25 May 2018 at 4:00pm
Russia will look into the possibility of opening up gas pipeline exports to companies other than the current exclusive exporter?state-controlled gas giant Gazprom?Russian President Vladimir Putin told the CEO of France?s Total, Patrick Pouyanné, at an economic forum in Russia on Friday. During the St. Petersburg International Economic Forum, Pouyanné asked Putin to allow a joint venture of Total and Russian gas producer Novatek to export gas from Russia via pipeline to Europe. On the sidelines of the forum, Total?

Is The OPEC Deal Finally Done?
by Editorial Dept
25 May 2018 at 4:00pm
Friday May 25, 2018 In the latest edition of the Numbers Report, we?ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we?ll dig into some data and provide a bit of explanation on what drives the numbers. Let?s take a look. (Click to enlarge) (Click to enlarge) Key Takeaways - U.S. oil production rose to another record at 10.725 million barrels per day, but the weekly increase was only a marginal 2,000 bpd. In fact, the past two weeks showed only tepid production increases,?

The Best Shale Investment This Summer
by Dan Dicker
25 May 2018 at 4:00pm
Three very different news stories dominated the week in energy ? let?s look at those and then some oil ideas that might come from them. The President made an 180-degree turn away from Chinese sanctions despite promising it to the delight of steel and aluminum workers during the campaign ? and recently in tweets. Now all of this is apparently on hold, and comes along with a promise of help for the already sanctioned ZTE Chinese phone company. The return promises from China are a freer road into China for American goods ??

Global Energy Advisory 25th May 2018
by Editorial Dept
25 May 2018 at 4:00pm
OPEC has signaled it may decide to ease the oil production cuts it agreed to implement in late 2016 on the back of Venezuela?s catastrophic production decline and the pending U.S. sanctions against Iran, which combined to push Brent past the $80 mark for the first time in four years last week. President Trump was the first to voice concern about too-high prices and, not long after, India?s oil minister followed with a complaint about unreasonably high prices. In response, Saudi Arabia said there was no fundamental reason for Brent to?

Have Oil Prices Peaked
by Nick Cunningham
25 May 2018 at 4:00pm
Brent recently hit $80 per barrel, which ushered in a flood of predictions for when we might hit $100 per barrel. But Saudi Arabia and Russia just crushed those dreams, with reports suggesting that the two top oil producers could move to allow higher levels of output at the upcoming meeting in Vienna on June 22. Assuming they do indeed lift output levels, does that mean that the rally is over? Are we in for a sharper price correction? It?s possible. But it?s also possible the market is overreacting. Let me explain. On the one hand,?

Iran Demands Oil, Bank Guarantees From The EU By End-May
by Tsvetana Paraskova
25 May 2018 at 3:00pm
As the European Union (EU) is trying to salvage the Iran nuclear deal after the U.S. walked out of it, Tehran now wants Europe to submit a package of oil and bank guarantees to Tehran by the end of the month, according to a senior Iranian official. Top diplomats from China, Russia, France, Germany, and the UK are meeting with Iranian counterparts in Vienna today to discuss the fate of the nuclear deal. ?The meeting will offer an opportunity to review the implications of the withdrawal of the United States from the JCPOA and discuss the way?

ISIS Attack On Kirkuk Lines Leaves Iraqi Cities Without Power
by Tsvetana Paraskova
25 May 2018 at 1:00pm
ISIS targeted on Thursday night two main electricity power lines in the Kirkuk area, leaving two cities without power, Iraq?s Ministry of Electricity said on Friday. The Islamic State militants attacked the power lines in the village of Birima in Kirkuk, completely cutting off electricity for the cities of Hawija and Tikrit, Kurdistan 24 news outlet reported, quoting the statement by the Iraqi ministry. An engineering team has started ?maintenance work to restore service lines despite the presence of military operations in the area,??

OPEC Sends Oil Prices Crashing
by Tom Kool
25 May 2018 at 12:00pm
Oil prices fell drastically on Friday on the back of news that Russia and Saudi Arabia are considering an increase in their oil production, bringing an end to the production cut deal in its current form.Friday, May 25, 2018 (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge)Oil prices plunged in early trading on Friday on news that OPEC and its partners, including Russia, are considering a loosening of their production limits (more below). Both WTI and Brent fell by?

Total Joins $25 Billion Russian Arctic LNG Project
by Irina Slav
25 May 2018 at 11:00am
French Total will buy a 10-percent stake in Russian Novatek?s LNG-2 project in the Arctic, Novatek?s chief, Leonid Mikhelson, said, as quoted by Reuters. France?s President Emmanuel Macron is visiting Russia for the St. Petersburg economic forum this week and the Total deal was signed during his visit. Total already holds a 20-percent stake in Novatek and is one of the partners developing the company?s first LNG project in Yamal, along with Chinese CNPC and Silk Road Fund. This second deal for Arctic LNG-2 could be finalized?

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