Thursday, September 03, 2015
“If oil prices stay low longer enough, supply will go down naturally.” This, according to Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, is the theory driving Russia’s decision to not cut oil production. Russia intends to continue to flood the global oil market with their vast...
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Tuesday, September 01, 2015
What’s happening with oil right now is eerily similar to what happened in housing 8 years ago. If you don’t see the parallels, consider in 2005 construction in suburban Phoenix, Las Vegas and Tampa was booming. Everything from strip plazas to entire neighborhoods were going up in a...
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Monday, August 31, 2015
Following nearly a decade of collective record profits, US oil companies have been forced to decommission about 40% of the rigs fully functioning no more than two years ago. Having dropped 50% since June of 2014, the price of a barrel of oil is at levels not seen...
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Tuesday, August 25, 2015
As you may know, the oil industry is a global one. When we’re paying rock bottom prices at the pump, not only are oil drillers in the US impacted by the pinch, so too are drillers in every country from Venezuela to Saudi Arabia to Russia. Also, as...
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Thursday, August 20, 2015
There’s more bad news for the struggling oil industry, but good news for drivers and consumer confidence. Oil this week was down 4% putting crude at 6 ½ year low. Traders are calling for October futures of $41.27 per barrel with inventory reports of a sky-high to 2.6...
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Tuesday, August 04, 2015
The Texas oil industry turned out unprecedented volumes since 2010 of billions of dollars. This has buoyed thousands of jobs ever since… until the market began to tumble. And as the price of oil wanes and the market shrinks, it’s leaving the majority of workers wondering what’s next...
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Sunday, August 02, 2015
Having dipped below $50 a barrel for the first time in 6 months to a meek $49.85, crude oil prices have dipped well into bear market territory. But this comes as little surprise given the $20+ skid witnessed throughout July, due to a number of combined factors. As...
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Tuesday, June 23, 2015
In an economy whereby all facets are interconnected- or a network economy- inefficiency is dragging down performance markers, particularly oil prices. This means in several sectors of the economy, it takes more resources to produce a given output. And with this inefficiency come a drop in prices of...
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Monday, June 01, 2015
U.S. crude was up from $49.21 a barrel in April to $61.01 due in great part to a weaker dollar. In conjunction with the weaker dollar, the Saudis disclosed they have an oil surplus. This is a strong indication the higher prices are driven mostly from speculators. A...
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Monday, April 27, 2015
In 2013, vehicles in the US achieved an all-time record for fuel economy at 24.1 miles per gallon, which is five miles per gallon more than a decade ago. This increase is set to continue in the decade to come and is projected to save nearly 12 billion...
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