US Oil Exploration: Arctic National Wildlife Refuge at Risk

•  Published by Pete Nisbet on   June 4, 2017  

US oil exploration is set to drill in the Arctic National Wildlife Refuge in Alaska. This is being done to make full use of the oil believed to be hidden beneath the Arctic, particularly that past of it owned by the US – Alaska. This could generate a great deal of oil to add to the world’s marke [...]

American Oil Production Threatening Oil Prices Worldwide

•  Published by Pete Nisbet on   June 3, 2017  

American oil production has increased by 9% over the past eight months. This puts another 9.3 million barrels onto the market over that period. While OPEC makes attempts to keep oil prices up by restricting supply, the US profits from that by increasing production when prices are high. Many OPEC cou [...]

US Shale Oil Production Destabilizing Crude Oil Prices

•  Published by Pete Nisbet on   June 2, 2017  

US shale oil production seems to be destabilizing crude oil prices. Oil prices will not stabilize as long as the US continues to fill the supply shortfall with shale oil. Igor Sechin, CEO of Russian oil company Rosneft Oil Co, stated this at the St. Petersburg International Economic Forum this week. [...]

Oil Prices Decrease as US Increases Crude Oil and Shale Oil Production

•  Published by Pete Nisbet on   May 29, 2017  

Oil prices decrease Monday as US increases production.  Brent crude futures were trading down 15 cents Monday morning reaching $51.98 per barrel at 1115 GMT.  US West Texas Intermediate (WTI) dropped 17 cents to $49.63 per barrel.   Trading was fairly low due to Monday being a bank holi [...]

US Shale Oil Industry Becoming a Threat to OPEC

•  Published by Pete Nisbet on   May 26, 2017  

The US shale oil industry has developed significantly over the past five years. At one time, OPEC did not regard American shale oil as a significant competitor. That has now changed! The big question now is whether US shale oil and OPEC can co-exist, or whether there will be a big showdown somewhere [...]