Prices
![Prices](/cache/2015/12/CANADA-9.fad2c4f6.jpg)
2015, December, 11, 08:20:08
CANADA CUTS 40,000 JOBS
Canada’s oil and gas companies have eliminated at least 40,000 jobs this year, the industry’s lobby group estimates, while companies have curtailed spending. Canadian Natural Resources Ltd., the nation’s largest heavy oil producer, will rely on cash flow to cover its capital spending next year after eliminating C$3.2 billion ($2.4 billion) from its 2015 budget. Blackpearl Resources Inc., a small operator, will spend only C$15 million next year, a fraction of the C$235 million the company spent in 2014.
![Prices](/cache/2015/12/LNG-33.552931ec.jpg)
2015, December, 10, 19:40:00
LNG PRICES DOWN
LNG to northeast Asia, home to the world’s biggest consumers, plunged 27% this year, outpacing Brent’s 23% slump as of Wednesday. While analyst estimates show that crude will recover in 2016, prices for the super-chilled fuel will probably extend declines by as much as 23%.
![Prices](/cache/2015/12/PETROBRAS-4.6981d425.jpg)
2015, December, 10, 19:25:00
PETROBRAS SALE $1.5 BLN
Petroleo Brasileiro SA, as Petrobras is formally known, is targeting $15.1 billion in disposals by the end of next year but has struggled to sell assets in less attractive prospects off Brazil and in the Gulf of Mexico.
![Prices](/cache/2015/12/CHEVRON-5.fcd2ce8c.jpg)
2015, December, 10, 19:20:00
CHEVRON WILL REDUCE $26.6 BLN
Chevron, the second-largest energy company in the U.S. by revenue, and other major oil companies have been cutting costs and capital spending plans in response to an extended downturn in prices for crude.
![Prices](/cache/2015/12/OIL-135.66246a91.jpg)
2015, December, 9, 20:00:00
2016 OIL PRICES: $56
EIA forecasts that Brent crude oil prices will average $53/b in 2015 and $56/b in 2016.
Forecast West Texas Intermediate (WTI) crude oil prices average $4/b lower than the Brent price in 2015 and $5/b lower in 2016.
![Prices](/cache/2015/12/SAUDI-26.469c7706.jpg)
2015, December, 9, 19:50:00
IRAN & SAUDI COMPETITION
Differing views about who should bear the brunt of oil production cuts to lift prices forced Opec to default to its existing policy to keep on pumping last week. This has laid bare the gaping divide between Saudi Arabia and its arch rival Iran.
![Prices](/cache/2015/12/OIL-132.64aa35ae.jpg)
2015, December, 8, 20:00:00
SAUDI TWIST ARMS
Many poorer OPEC members have said the group's largest producer was effectively twisting their arms, prompting the Saudi oil minister, Ali al Naimi, to say he would listen to everyone this time.
![Prices](/cache/2015/12/OIL-131.8c092993.jpg)
2015, December, 8, 19:55:00
OPEC: BEGINNING TO REALIZE
Although the collapse in oil prices has hit the budgets of Opec’s members hard, the group’s ability to act collectively has rarely looked weaker. Brent crude touched a six-year low of $41.30 a barrel on Monday.
![Prices](/cache/2015/12/OIL-130.c1a72f95.jpg)
2015, December, 8, 19:50:00
OIL & GAS SALES
The selloff marks a sharp shift in Wall Street sentiment from earlier in the year, when investors piled into energy-company debt and firms sold new bonds as the price of oil appeared to stage a comeback.
![Prices](/cache/2015/12/OIL-134.22483402.jpg)
2015, December, 8, 19:45:00
OIL MARKET OVERSUPPLIED
"The market is oversupplied and production capacity will continue to grow because a lot of projects were sanctioned in 2013 and 2014," Pouyanne told reporters on the sidelines of the International Petroleum Technology Conference in Doha.
![Prices](/cache/2015/12/USA-116.5c388ed2.jpg)
2015, December, 8, 19:40:00
U.S. JOBS UPDOWN
The falling oil and gasoline prices that for months have coincided with strong U.S. hiring have helped most Americans. But they’ve come at a painful cost for workers in the energy and mining sector: 122,300 lost jobs in the past year.
Overall, U.S. employers added a robust 211,000 jobs and the unemployment rate held steady at a low 5 percent.
![Prices](/cache/2015/12/USA-117.1e871639.jpg)
2015, December, 8, 19:35:00
U.S. OIL WILL DOWN 116,000 B/D
Crude oil production in January from seven major US shale plays is expected to drop 116,000 b/d to 4.86 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR). The agency last month projected a 118,000-b/d decline for December. The DPR focuses on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica, which altogether accounted for 95% of US oil production increases and all US natural gas production increases during 2011-13.
![Prices](/cache/2015/12/USA-125.e88d4108.jpg)
2015, December, 8, 19:30:00
U.S. RIGS: THE LOWEST
The US drilling rig count dropped 7 units to 737 during the week ended Dec. 4, marking its lowest point since Oct. 15, 1999.
![Prices](/cache/2015/12/VARCO-7.62146fbd.jpg)
2015, December, 8, 19:25:00
NOV VARCO CUTS 900 JOBS
U.S. oilfield equipment maker National Oilwell Varco Inc will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders, the company said on Monday.
![Prices](/cache/2015/12/OIL-128.7b2ddd3f.gif)
2015, December, 8, 19:20:00
OIL PRICES DOWN
The January contract for light, sweet crude settled below $40/bbl on the New York market Dec. 4 after members of the Organization of Petroleum Exporting Countries acknowledged they would accommodate current production, which is more than 1 million b/d over the quota.