A price increase from current levels hinges on action from OPEC+. Saudi Arabia has already signaled that it intends to lower exports by 500,000 bpd in December, and that further action might be forthcoming from OPEC+.
If the US shale oil industry is still not profitable – after a decade of drilling, after major efficiency improvements since 2014, and after a sharp rebound in oil prices – when will it ever be profitable?
Oil prices posted steep losses just as the bulls were back on the march. WTI briefly topped $70 per barrel in recent days and Brent was flirting with $80. But the rally was kneecapped by a variety of factors, and it could be challenging to break above those key pricing thresholds in the near future.
Unlike Canada's oil sands, characterized by vast toxic tailings ponds and environmental destruction, Petroteq has pioneered a breakthrough approach to oil sands production that minimizes the environmental impact.
The future of energy belongs to new tech, and investors hoping to score should look to these exciting new firms for some of those solutions.
A healthy appetite for crude, combined with an unexpectedly high level of compliance has stabilized markets. The threat of higher oil prices culling demand is still very low but will be looming on the horizon.
Higher production doesn’t necessarily mean higher oil prices are entirely out of the question, and in fact, the oil market is still faced with a ton of uncertainty.
Demand for lithium is soaring, and producers are frantically searching for new sources of supply. Prices have doubled in the last two years, rising as high as $16,500 per ton.
Because U.S. shale growth is already baked into the current oil market projections, the risk to oil prices is probably skewed more towards the upside due to the variety of geopolitical ticking time bombs.
The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil companies and the …