The definition of “unsustainable,” according to the Oxford Dictionary, is a situation which cannot be maintained at its current rate or level. Unsustainable is also the best way to characterize the oil price when it is near $US 30/B—a situation […]
This commentary was originally published in the Petroleum Economist’s Outlook 2016. This version has been modified from the original publication, in order to account for the most recent information. Gazing into the horizon to predict the future is always hazardous; […]
US benchmark West Texas Intermediate (WTI) crude oil hit a new low on Monday morning, trading under $US 35/B. Meanwhile, Brent crude oil was trading just above $US 36/B in international markets. More than a year into this downturn, these […]
North American natural gas markets are having a record breaking year. While some of the new (and potentially new) records are bullish, there are also several bears. Let’s look at a list of this year’s new records, so that we […]
Many people ask me, “Why doesn’t Saudi Arabia cut production to help boost prices?” I almost always pause, knowing there isn’t a quick black-and-white answer. So hedging my knowledge, I reply, “While anything is possible, the likelihood of a cut […]
Canadians have spoken for change. After nearly ten years of Conservative rule under Alberta’s Stephen Harper, Canadians voted in a majority rule Liberal government last night, headed by Justin Trudeau.
Bleak metrics to describe the oil price downturn are easy to come by. For instance: the oil price is down almost fifty percent from last year, and drilling rates in Western Canada are about half of last year’s levels.
Although there is wide disagreement on the future price of oil, there are some facts that almost everyone can agree on. First, that oil is an essential commodity (validated by the 94 million barrels of oil consumed in the world […]