Just as orders for new ships began to plumb in 2008, world oil prices soared, hovering around $100 a barrel. Oil prices are higher and investors in developing oil fields are growing. As long as the price of crude oil exceeds $50 to $60, the Marine equipment industry is seen as a "p...
Many OPEC countries need higher oil prices to balance their budgets, including $70-$80 a barrel for Saudi Arabia. What is not clearly understood is that once oil inventories reach maximum capacity, the oil markets will immediately become balanced. For once storage facilities are full to the ...
Her presentation featured a graphic that projects crude oil prices will be in the breakeven range of $50-$60 per barrel range through the end of 2017. However, “We don’t forecast prices because we could be wrong,” quipped Michael Grande, S&P Global director, during a question-and-answer...
The cure for low oil prices is low oil prices, and that cure will begin to take effect this year. I realize that we dropped into the $30′s in 2008, but keep two things in mind. Just over a year later we were back above $100/bbl, and at that time the marginal barrel was not...
“There are opportunities in California—the newer technology in the rigs has reduced costs,” Eson said. “We can live with oil being $50 to $60 a barrel because we can still make a profit.” Despite the perception that working in California is more challenging, oil companies can thrive ...
Drivers may see some relief with the price of crude oil falling below $100 a barrel on Tuesday, down from $123 after Russia invaded Ukraine. Prices at the pump fell by two pennies to $4.31 a gallon on Tuesday, according to AAA.
As mentioned in the introduction, there is a 430,000 barrel a day crude oil pipeline that brings crude oil up from the Gulf Coast to Cushing, called the Seaway Pipeline. If it were reversed, it theoretically might solve the problem, assuming that each refinery could still get the type of...
over $80 per barrel – needs to arrive before 1002 looks attractive. Leasing and drilling in an area with extreme weather, little detailed data on the subsurface geology, no discoveries or production, and no existing infrastructure is considered high risk, all the more so in an uncertain price...
of Saudi Arabia has announced a total of $125 billion worth (27 percent of the country’s GDP) on social programs for the public. For King Abdullah, this is the cost of keeping peace but has driven up the breakeven price for Saudi oil production to $88 per barrel, according to the ...
CAPTION: Crude Oil Prices (USD/bbl.) in 2016. Source: MoneyAM The World Bank has forecasted a rise in commodities values in 2017, with oil prices forecast to rise to $55 per barrel next year from $43 per barrel in 2016 as markets readjust after an era of abundant supply that outpaced...