U.S. Supermajors Could Form A New Oil Cartel

rig 2

 

The ambitious shale growth plans of the U.S. supermajors could in the future allow them to control so much of U.S. shale oil production that they could also control the price of the U.S. light tight oil going to foreign markets in an ‘OPEC of their own kind,’ Investing.com quoted John Kilduff, founding partner at Again Capital, as saying. Continue reading

U.S. oil output to surpass Saudi and Russia combined by 2025

Anadarko Petroleum Corp. photo

 

Driven by a continued shale boom, the United States is on track to produce more crude oil and liquids than Russia and Saudi Arabia combined by 2025, an energy consultancy said. Continue reading

U.S. Shale Is Immune To An Oil Price Crash In 2017

A brilliant move by U.S. shale oil producers has given them a great hedge. How long it can hold is anyone’s guess as OPEC is sure to try and counter it. The good news is that the U.S. remains one step ahead.

 

Eagle Ford

 

Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.

Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. output.

Shale production has been gaining ‘significant momentum’, and there is a limited downside risk in the short run, Norway-based consultancy Rystad Energy said in a report last week. Continue reading

U.S. now has larger oil reserves than Saudi Arabia, Russia

The United States has for the first time surpassed Saudi Arabia and Russia in oil reserves.

A study by Rystad Energy estimates that recoverable oil in the U.S. from existing fields, discoveries and yet undiscovered areas amounts to 264 billion barrels. Saudi Arabia has 212 billion and Russia 256 billion in reserves. Continue reading