IEA warns oil-price “rout” will deepen, pressure increase on OPEC, Russia.

November 14, 2014 Oil 

Bloomberg: “Oil prices could slide from a four-year low in the coming months as the market enters a period of weaker demand, increasing pressure on OPEC to reduce production, the International Energy Agency said.”
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“Shale drillers idle rigs from Texas to Utah amid oil rout.”

November 8, 2014 Gas, Oil 

Bloomberg: “The shale-oil drilling boom in the U.S. is showing early signs of cracking. Rigs targeting oil sank by 14 to 1,568 this week, the lowest since Aug. 22, Baker Hughes Inc. (BHI) said yesterday. The Eagle Ford shale formation in south Texaslost the most, dropping nine to 197. The nation’s oil rig count is down from a peak of 1,609 on Oct. 10.”
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Opec weakness at low oil price means US shale drillers “might win”.

November 6, 2014 Gas, Oil 

Bloomberg: “Here’s why the U.S. shale upstarts just might win a confrontation with Saudi Arabia as oil sinks: While the Arab nation is as flush with cash as ever, the finances of some fellow OPEC members are deteriorating quickly.”
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90% of undeveloped tar sands barrels at risk from eroding oil price.

November 4, 2014 Oil 

Carbon Tracker press release: “Investors in Canadian oil sands are at a heightened risk of companies wasting $271 billion of capital on projects in the next decade that need high oil prices of more than $95 a barrel to give a decent return, the Carbon Tracker Initiative (CTI) revealed today.”
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Norway’s Arctic oil ambitions threatened by oil price-slump.

October 23, 2014 Gas, Oil 

Bloomberg: “Norway’s push to exploit Arctic waters for oil, already denounced by environmentalists, is now under threat from the slump in crude prices.”
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$80 oil muffles forecasts for U.S. shale boom.

October 21, 2014 Gas, Oil 

Bloomberg: The bear market in oil has analysts reassessing the U.S. shale boom after five years of historic growth. The U.S. benchmark price dropped to $79.78 a barrel on Oct. 16, the lowest since June 2012.”
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Low oil prices: recession in Russia, revolt in Venezuela?

October 16, 2014 Finance, Oil 

Guardian: “The sudden slump in oil prices, which have fallen 15% in the past three months, has sent tremors through the capitals of the world’s great oil powers, many of whom could face testing budget crunches if the tendency persists.”
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“Has Saudi Arabia lost control of the oil market?”

October 16, 2014 Oil 

Nick Butler on the FT: “Conspiracy theories abound around the oil price fall. A 25 per cent drop in less than three months is certainly exceptional and the assumption is that in a politically driven market a political decision by someone, somewhere must have forced prices down.”
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Slowdown and Ebola fears push down stock markets and price of oil.

October 16, 2014 Finance, Oil 

Guardian: “Fears of a worldwide economic slowdown and anxiety about the spread of Ebola reverberated around stock markets Wednesday, driving shares around the world sharply down and pushing the price of oil to a four-year low.”
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Opec tests US shale oil production with low prices.

October 15, 2014 Oil 

Bloomberg: “OPEC is resisting pressure to cut oil production while demand slumps as it tests how low prices must go to make U.S. shale oil unprofitable. As producers become more efficient, that floor is sinking.”
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IEA cuts oil demand forecast.

October 14, 2014 Oil 

FT: “The price of oil tumbled nearly three dollars a barrel on Tuesday after the west’s energy watchdog cut its forecast for oil demand growth in a sign of the darkening outlook for the global economy.”
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Reuters: “Privately, Saudis tell oil market- get used to lower prices.”

October 13, 2014 Oil 

Reuters (exclusive): “Suadi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.”
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“Here’s why shale oil stocks are tanking.”

October 10, 2014 Finance, Gas, Oil 

Bob Pisani on CNBC: Why are shale plays getting hit so hard? The short answer is, because oil is dropping. West Texas Intermediate has gone from $105 to $85 in three months. But a large part of the problem has to do with the way shale drilling is financed.”
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Oil sinks to $88, share prices plunge.

October 10, 2014 Finance, Oil 

FT: “Fears about weakening global growth drove oil prices to a four-year low on Friday, at the end of a turbulent week for financial markets that also saw world share prices drop to their lowest in seven months.”
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Drilling rig numbers hit in a new record in the US as oil search spreads.

October 8, 2014 Nuclear, Oil 

Bloomberg: “Rigs targeting oil in the U.S. surged to a record as drillers ventured outside the nation’s biggest basins to search for crude in developing plays such as the South-Central Oklahoma Oil Province, known as SCOOP.”
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“Shale boom tested as sub-$90 oil threatens U.S. drillers.”

October 8, 2014 Finance, Gas, Oil 

Bloomberg: “The U.S. shale boom is producing record amounts of new oil as demand weakens, pushing prices down toward levels that threaten to reduce future drilling.”
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Brent oil retreats to 28-month low.

October 2, 2014 Oil 

FT: “Brent crude hit a 28-month low on Thursday while benchmark US oil dropped below the $90 a barrel mark for the first time since April 2013, pointing to significant stocks on both sides of the Atlantic.”
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“At least three oil and gas majors have ordered full strategic reviews.”

September 8, 2014 Finance, Gas, Oil 

Nick Butler in the FT:  ”Energy executives returning from their summer holidays face some hard choices. I know of at least three major oil and gas companies that have ordered full scale strategic reviews.”
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Kashagan delays mar outlook for Eni, Total and Shell.

July 20, 2014 Oil 

FT: “Three of Europe’s largest oil companies could take a $1.5bn hit to earnings as a result of delays to Kashagan, the $50bn oil project in the Caspian Sea that has been bedevilled by hold-ups and cost over-runs.”
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“Supply setbacks will push oil price higher.”

July 17, 2014 Oil 

FT: “A possible resumption of oil exports from Libya, as yet unhindered production in Iraq, and hopes of a nuclear deal with Iran, have caught the oil market on the hop.”
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