Prices
![Prices](/cache/2015/09/USA-59.fbb26b7d.jpg)
2015, September, 11, 18:50:00
U.S. CHALLENGING TIMES
With U.S. crude oil prices 47% lower in first-half 2015 compared to first-half 2014, U.S. onshore companies experienced a significant reduction in cash flow from operations. Most companies responded by reducing capital expenditures.
![Prices](/cache/2015/09/RUSSIA-29.cad296fe.jpg)
2015, September, 11, 18:45:00
NO CUT OIL
“Russia and OPEC have talked about cooperation in cutting production many times in the past, but the results of that were always dismal and disappointing,” said Nordine Ait-Laoussine, president of Geneva-based consultant Nalcosa and former energy minister of Algeria. “Russia has assumed that when oil prices go down, OPEC countries are in a weaker position and are more likely to be the first to cut its production, and they always did.”
![Prices](/cache/2015/09/SAUDI-13.ae1de42e.jpg)
2015, September, 11, 18:40:00
SAUDI NO NEED
Top oil exporter Saudi Arabia sees no need to hold a summit of producing countries' heads of state if such discussions would fail to produce concrete action toward defending oil prices, sources familiar with the matter said on Thursday.
![Prices](/cache/2015/09/GAS-20.dbe2419e.jpg)
2015, September, 11, 18:35:00
RUSSIAN GAS TEMPTS
LNG imports by 10 nations in the region that receive the tanker-delivered fuel dropped 3.4% from a year earlier in August, after reaching a two-year high in March, according to data from Genscape. Russian pipeline supplies soared about 20% from a year earlier in August, remaining at the highest level this year, tracking declining crude prices, according to data from Gazprom, the world’s biggest gas producer.
![Prices](/cache/2015/09/OIL-61.d8fb144b.jpg)
2015, September, 10, 19:00:00
OIL PRICES: $54 IN 2015, $59 IN 2016
Brent crude oil prices will average $54/b in 2015 and $59/b in 2016. Forecast West Texas Intermediate (WTI) crude oil prices in 2015 and 2016 average $5/b lower than the Brent price. The current values of futures and options contracts for December 2015 delivery suggest the market expects WTI prices to range from $32/b to $73/b (at the 95% confidence interval) in December 2015.
![Prices](/cache/2015/09/OIL-62.16749d30.jpg)
2015, September, 10, 18:55:00
RUSSIAN UPGRADE: $50
Russia is overhauling its approach to crafting the budget next year to safeguard reserves, highlighting the challenges it faces in steering the recession-hit economy through a downturn in oil prices.
![Prices](/cache/2015/09/SAUDI-10.a3afc79d.jpg)
2015, September, 10, 18:50:00
SAUDI MAY REDUCE
In the first half of 2015, Saudi Arabia exported on average 4.4 million barrels per day (b/d) of crude oil to seven major trading partners in Asia, making up more than half of Saudi Arabia's total crude oil exports over that period. Even as global crude oil prices fell in 2014 and 2015, Saudi Arabia increased production and kept its export levels high, enabling it to maintain its market share in these countries. However, long-term trends within Saudi Arabia's energy sector may reduce its global crude oil market share.
![Prices](/cache/2015/09/USA-56.ad3424e5.jpg)
2015, September, 10, 18:45:00
U.S. CUTS BUDGETS
Some of the largest U.S. shale oil producers have already begun slashing 2016 budgets, with some planning double-digit reductions starting next January, the latest sign low crude prices are forcing a radical adjustment in the industry.
![Prices](/cache/2015/09/OIL-60.99acacd2.jpg)
2015, September, 9, 19:00:00
OPEC OIL DOWN
Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.26 million barrels per day (b/d) in August, down 140,000 b/d from the July level of 31.4 million b/d as several member countries, including Saudi Arabia, trimmed output, according to a just-released Platts survey of OPEC and oil industry officials and analysts.
![Prices](/cache/2015/09/OIL-59.b14fa3c9.jpg)
2015, September, 9, 18:50:00
HIGH RISKY PRICES
Low oil prices risk causing a lack of investment in conventional oil supply in non-OPEC countries, strengthening OPEC market power and creating additional uncertainty, the IEA's director for energy markets and security, Keisuke Sadamori, said Tuesday.
![Prices](/cache/2015/09/CANADA-4.a6a4d6f0.jpg)
2015, September, 9, 18:35:00
CANADIAN OIL SANDS: THE WORST
Energy companies have been hurt by the swoon in crude prices this year, but Canadian Oil Sands is among the worst performing. The company’s stock has lost almost 40% of its value so far this year, compared with a 22% decline in the Toronto Stock Exchange energy index.
![Prices](/cache/2015/09/OIL-58.ae071d70.jpg)
2015, September, 8, 18:17:00
DISINVESTMENT $250 BLN
Due to actual investments in production the volumes are still being added to the market, but the current cuts are starting to have an affect. In the next years the ongoing programs of investment shrinking - primarily from the transnational corporations - will certainly have their effect. As for now, the implementation of their long-term investment programs that started even before the current crisis has expressed in some production growth. But in 2014, the oil majors claimed to reduce the investment in production; in 2015, additional reductions by 10-20% and more were announced by such majors as BP, Shell, Chevron, Total. Overall cutback in global upstream investment was about $140 bln, and it is expected to reach $200-250 bln by 2016 year-end. Within 2-3 years, this will inevitably influence on the production and will have a long-term negative effect.
![Prices](/cache/2015/09/USA-54.66740c95.jpg)
2015, September, 8, 18:16:00
U.S. OIL KILLING
Oil declined for a second day after another Russian official ruled out cooperation on production cuts with OPEC, adding to signs that a global oversupply will persist.
![Prices](/cache/2015/09/OIL-57.44f49378.jpg)
2015, September, 8, 18:15:00
OILFIELD SERVICES: 36% DECLINE
Amidst the gloomy days of August when Brent Crude bottomed out at $42/bbl, the acquisition of Cameron by Schlumberger ($14.8 billion) took place as one of the largest mergers in the oil patch, following the tie-up of Halliburton and Baker Hughes ($32 billion) in November 2014. This consolidation has resulted in an integrated service & equipment provider covering the full oil & gas lifecycle from reservoir to first flow.