More Economics & Oil Market News

MARKET WATCH: Crude oil experiences week-long ‘bumpy ride’

The crude oil market was taken on a “bumpy ride” down a rocky road for much of this week, according to a commodities research note from Barclays Research, “as soft fundamentals and escalating tensions in Eurasia sparked price volatility.”

MARKET WATCH: Crude oil futures prices rebound on Russia-Ukraine talks

Crude oil futures prices rebounded on both the New York and London markets Sept. 3, which analysts attributed largely to comments from Russian President Vladimir Putin that he expected fighting in Ukraine to end within days.

MARKET WATCH: NYMEX, Brent crude oil futures dive on ample world oil supply

Crude oil futures prices slumped on both the New York and London markets on Sept. 2, with Brent reaching its lowest level in 16 months while front-month US light, sweet crude prices dripped to their lowest since January.

Deals with CNPC seen good for Russian firms

Russia’s recent oil and gas deals with China, some of which have been questioned on the basis of pricing, are good for Russian companies overall, argues an analyst at Moody’s Investors Service.

MARKET WATCH: Crude oil prices slip on weak global demand

The ICE contract for Brent crude oil dropped modestly on Sept. 1 while the New York market was closed for the Labor Day holiday in the US.

EIA: Brent crude oil price stability continues

Spot prices of Brent crude oil averaged $107/bbl in July, marking the 13th consecutive month in which the average price has ranged $107-112/bbl.

MARKET WATCH: Crude oil futures end trading session higher in New York

Crude oil futures prices trended upwards Aug. 28, ending the day’s trading session higher, while the ICE contract for Brent retreated.

EIA: US sees lowest pre-Labor Day gasoline prices in 4 years

US retail prices for regular gasoline averaged $3.45/gal on Aug. 25, which was lowest price on a Monday preceding the Labor Day holiday in the US since 2010, according to data from the US Energy Information Administration. The average price at the pump is now 25¢/gal lower than it was at the end of June.

Fitch: Drilling downturn might prompt some consolidation

A cyclical downturn in offshore drilling might provide an opportunity for driller contractors having financial flexibility to buy their peers at favorable prices, Fitch Ratings of Chicago said in a recent research note, adding that master limited partnerships (MLPs) in particular can provide financial flexibility.

MARKET WATCH: NYMEX, Brent oil futures rise on Russia-Ukraine conflict

Crude oil prices rose slightly on the New York and London markets Aug. 27 as international oil traders watched what appears to be an escalating conflict between Russia and Ukraine.

European refiner squeeze seen in W. African crude changes

European refining is pivotal in “a second wave of structural changes” pummeling West African (WAF) crude oil prices in response to growing production of light oil in North America, notes a report from the Oxford Institute for Energy Studies, London.

WoodMac: Norway’s 10 billion bbl of undeveloped resources could net $106 billion

Norway holds 10 billion boe of discovered but undeveloped natural resources, of which 60% could be commercialized and potentially add $106 billion to the country’s revenues, Wood Mackenzie reported in its latest upstream estimates released Aug. 26 at the Offshore Northern Seas conference in Stavanger.

MARKET WATCH: NYMEX prices climb ahead of US oil supply drop

Crude oil prices rose modestly on the New York market Aug. 26 ahead of the weekly government oil inventory report while analysts correctly anticipated a drop in US oil and product supplies although the statistics showed a bigger decline than expected.

MARKET WATCH: NYMEX crude oil prices slip pending inventory report

Crude oil futures prices slipped modestly on the New York market Aug. 25, and analysts said traders expected a weekly government oil report scheduled for release Aug. 27 to show a gain in supplies at the hub at Cushing, Okla.

CERI: Market access key to Canadian bitumen output

Outcomes in two areas of critical uncertainty can mean a difference in Canadian bitumen production in 2030 of 1.7-1.8 million b/d, according to a study published by the Canadian Energy Research Institute.

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Director of Technical Services: The Gas Processors Association, an international trade association, has an opening for an engineer to assume the duties of Director of Technical Services.  GPA is based in Tulsa, Oklahoma and has been the primary advocate for the midstream energy industry since 1921.  The position requires leadership of the technical and research activities of GPA and the midstream energy industry.  Knowledge of gas treating and processing together with good communication, writing and interpersonal skills is essential.  In addition, candidates must have analytical and technical aptitude for chemistry, math and physics.  A Bachelor of Science in chemical or mechanical engineering is preferred.

NOW HIRING: Director of Technical Services

Director of Technical Services: The Gas Processors Association, an international trade association, has an opening for an engineer to assume the du...
Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering Program at the rank of associate or full professor, with an anticipated starting date of July 1, 2015. Texas A&M at Qatar is a partnership with Qatar Foundation, and it is based in a state-of-the-art, 595,000 square foot building that was completed in 2007.

Chair of the Petroleum Engineering Program

Texas A&M University at Qatar (TAMUQ) (http://www.qatar.tamu.edu/) invites applications for the position of Chair of the Petroleum Engineering ...
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Sr. Process Engineers

Novus International, Inc., a $1B+ privately held company, is a global leader in developing animal health and nutrition solutions. The Novus corpora...

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