Energy Bangla

In last week’s article I posted a chart from the International Energy Agency’srecent Oil Market Report that shows global demand for refined products catching up to supply by the 3rd quarter of this year. My opinion is that all of the analysts who are now blaming the sharp drop in oil prices on a “glut” of supply could change their tune quickly as consumers adjust to lower fuel costs. Just... »

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With all the conspiracy theories surrounding OPEC’s November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. When discussing harsh truths in energy, no sector is in greater need of a reality check than renewable energy. In a third exclusive interview with James... »

Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline prices doubling within 18 months. For a commodity as critical to our standard of living as oil is, it only takes... »

As we ring in the New Year, let’s take stock of where we are at with the oil markets. 2014 proved to be a momentous one for the oil markets, having seen prices cut in half in just six months. The big question is what oil prices will do in 2015. Oil prices are unsustainably low right now – many high-cost oil producers and oil-producing regions are currently operating in... »

Global oil prices are tanking, but OPEC is holding firm on not slashing production to buoy prices Saudi Arabia will not cut oil production to boost depressed prices, a reversal in the kingdom’s usual policy of moderating supply to control prices and sending a strong message about the Organization of the Petroleum Exporting Countries’ (OPEC) strategy for dealing with a slumped oil market. Saudi Minister of Petroleum and Mineral Resources... »

The sharp drop in the price of crude oil since late June has been grabbing headlines worldwide – and producing a lot of contradictory explanations. Some attribute the fall largely to declining global growth expectations. Others focus on the expansion of America’s oil and gas production. Still others suspect a tacit agreement between Saudi Arabia and the United States aimed at, among other things, weakening political rivals like Russia and... »

Finance Minister AMA Muhith on 20th december said there was no possibility of slashing the prices of fuel oil in Bangladesh despite their steep fall in the international market. The oil price is never set in Bangladesh in keeping with the international market, he told journalists after inaugurating the newly repaired Presbyterian Church at Nayasarak in the capital. We always sell oil at a cheaper price. But it sees a... »

The shale revolution’s sweet spot is oilfield services, the lower-risk backbone of the American oil and gas boom that pays off regardless of a play’s economics.Behind the stardom of the explorers and producers who have put themselves on the revolutionary shale map and absorb most of the risk—are the service providers who make up a highly lucrative market segment.The US land-based rig count rose 3% over the last quarter, reaching... »

The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s latest forecast. And that’s just one of several sour estimates. OPEC’s monthly report said demand for the cartel’s oil will fall to 28.9 million barrels per day next year, 280,000 barrels lower than its previous forecast and the lowest in... »