Oil credit crunch could be worse than the housing crisis—commentary
Oil and gas companies borrowed heavily when oil prices were soaring above $70 a barrel. But in the past 24 months, they’ve seen their values and cash flows erode ferociously as oil prices plunge — and...
View ArticleOil Price Collapse Pushing Russia’s Economy To The Edge | OilPrice.com
The finance minister said Russia had been relying on the country’s Reserve Fund, one of its sources of sovereign wealth, to make up some of the budget shortfall. But last month that fund lost 16...
View ArticleOil price crash: Saudis told to embrace austerity as debt defaults loom –...
Kingdom faces a future of higher taxes and low fuel subsidies amid fears the world’s weakest oil producers will soon begin to buckle Saudi Arabia faces years of tough austerity as the worst oil price...
View ArticleAge of Oil Rents is Over: A political and geopolitical revolution is on its way
About twenty countries around the world are dependent on a single number: the price of oil. Some, primarily Persian Gulf states, live entirely off their oil and gas wealth. They rely on crude oil,...
View ArticleAEP: Saudi financial crisis ‘could leave oil at $25′ as contractors face...
Saudi Arabia faces a vicious liquidity squeeze as capital continues to leak out the country, with a sharp contraction of the money supply and mounting stress in the banking system. Three-month...
View ArticleSaudi Arabia has declared an end to its oil war with the US — Quartz
Two years after quietly declaring war on upstart US shale, Saudi Arabia says the need for the fighting is over. In remarks to journalists while on a US visit, Saudi Arabian energy minister Khalid...
View ArticleAmerica Is Smashing Russia and OPEC’s Grip On The Oil Market | The National...
But while their strategy of oversupply may have made some high cost operators economically unviable, including those in OPEC member states Angola, Nigeria and Venezuela, U.S. shale extractors have...
View ArticleNew drilling technology will create an explosion of oil
Now, selling prices are mostly outside the producer’s control, though adept hedging can help. Cost reduction is, therefore, the place to concentrate your attention. Back in 2015, I wrote about new...
View ArticleRex Tillerson got burned in Venezuela. Then he got revenge. – The Washington...
Rex Tillerson hadn’t been CEO of ExxonMobil very long when the late president Hugo Chavez made foreign oil companies in Venezuela an offer they couldn’t refuse. Give the government a bigger cut, or...
View ArticleAre Mexico’s Oil Reserves Almost Depleted? | OilPrice.com
Mexico’s oil and gas regulator said last week that the country’s proved hydrocarbon reserves will drop by 10.6 percent in 2017. This forecast, coupled with the lower oil production that state company...
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