Wednesday 27 July 2016
 
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Shale

Oil falls on glut concerns despite shale cuts

Oil prices eased in early Asian trade on Tuesday as concerns over a crude and fuel oil glut outweighed an expected cut in US shale production and a likely further draw in US crude stocks. Crude prices fell more than 1 per cent in

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Oil falls further under $50 on Asia demand concern

Oil fell on Monday over signs that US shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs.   Brent crude was trading

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Rising oil prices throw lifeline to shale producers

Brent prices for 2017 ended trading above $50 per barrel on Wednesday for the first time since mid-December following the largest and most sustained rally in prices since the oil slump started. The average for the 12 futures contr

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US shale's message for Opec: above $40, we are coming back

For leading US shale oil producers, $40 is the new $70.   Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less in decid

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Shale fightback 'will lift US output to record high by 2021'

Oil production in the US will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency (IEA) said.

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Oil rises on IEA's US shale outlook and rig data

Oil rose after the world's oil consumer body said it expected US shale production to fall this year and next, potentially easing a glut that has driven prices to their lowest in more than a decade.   A bounce

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Global oil market will rebalance in 2017: IEA

The global oil market will begin rebalancing in 2017 when US output declines further under pressure from low oil prices before resuming growth again later in the decade to reach an all-time high by 2021, the International Energy Agency (IEA) sai

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As US shale sinks, pipeline fight sends woes downstream

Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit US oil and gas producers this year will imperil the $500 billion pipeline sector as well. In the two court fi

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Is Saudi Arabia winning the war against shale?

Saudi officials insist the kingdom's oil production strategy is not aimed at putting US shale producers out of business, a message that has been repeated to visiting US policymakers.   The United States remai

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Oil slump sparks second wave of budget cuts

Less than two months into the year, the top US shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their cash flow. With oil prices firmly wedged in the

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