Author: OilPrice

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Big Oil Using Artificial Intelligence

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders […]

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American Shale Is Immune To Any Oil Price Crash In 2017?

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 […]

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Big Oil Bets Big On Electric Vehicles

Speaking this week at the Bloomberg New Energy Finance conference in New York, Total SA’s chief energy economist, Joel Couse, forecasted that Electric Vehicles will make up 15 to 30 percent of global new vehicle sales by 2030. Oil demand […]

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Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

  In recent years, U.S. shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand […]

When Will Russia Run Out Of Oil?

When Will Russia Run Out Of Oil?

On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. In 2016, only 3.7 billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 percent of […]

There Is No Such Thing As Peak Oil Demand

There Is No Such Thing As Peak Oil Demand

Notwithstanding that oil demand has increased for over 150 years, it will eventually stop increasing. If oil demand were to reach an actual peak, then the top might be easier to predict. As it stands, the forecast models of demand […]

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Is A Second OPEC Cut On The Cards?

OPEC’s coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. But resurging U.S. […]