Prices
![Prices](/cache/2015/04/USA-155.5fb2e5f0.jpg)
2015, April, 7, 20:50:00
U.S. CUTTING JOBS
With crude oil prices dropping near $40 a barrel in March, area industry leaders are reacting to the deflated market prices by cutting jobs and ramping down production.
![Prices](/cache/2015/04/USA-157.7a95f6c1.jpg)
2015, April, 7, 20:45:00
U.S. SHALE REVOLUTION DOWN
OPEC members (predominately Saudi Arabia) have traditionally been the only countries with the ability to ramp-up production through spare oil supply capacity. Nowadays, however, following the shale revolution, the US onshore market is widely being touted as the industry’s new ‘swing’ producer.
![Prices](/cache/2015/04/USA-156.1534ad57.jpg)
2015, April, 7, 20:40:00
U.S.: 100 RIGS WILL FALL
U.S. companies remain nervous about oil prices. Spending has been cut as prices fail to rebound significantly, and further price drops could quickly lead to more shrinkage in the rig count.
![Prices](/cache/2015/04/GAS-62.5e92d826.jpg)
2015, April, 4, 14:00:00
RUSSIA & EUROPE GAS
Currently the project is moving forward, as Moscow and Ankara have signed the MoU, approved the new pipeline route and agreed upon the 10.25% gas discount for Turkey. On the EU side there are many questions, including the one on infrastructure that would have to be in place to transport gas from the Turkish-Greek border, envisaged as the new pipeline’s gas delivery point.
![Prices](/cache/2015/04/GAS-61.4e9eb2d3.png)
2015, April, 4, 13:55:00
RUSSIAN GAS COULD RISE
Russian gas imports into Western Europe could rise to a record this summer as utilities increase purchases from Russia, taking advantage of lower prices for oil-indexed gas contracts, analysts said.
![Prices](/cache/2015/04/GAS-65.79047e1d.jpg)
2015, April, 4, 13:50:00
EU GAS PRICES
European gas prices started the summer season at a five-year low, signaling easing concern about disruptions to Russian supply and below-average reserves.
![Prices](/cache/2015/04/OIL-211.e87278ef.jpg)
2015, April, 4, 13:45:00
U.S. OIL PRICES
Monthly average crude oil prices continued to fall in January. The average domestic crude oil first purchase price declined $11.76 (21.4 percent), to $43.10 per barrel.
The average free-on-board (f.o.b.) cost of imported crude oil dropped $9.77 (19.5 percent), to $40.29 per barrel. The average landed cost of foreign crude oil fell $11.26 (20.5 percent), to $43.75 per barrel.
![Prices](/cache/2015/04/gas-63.8178309f.jpg)
2015, April, 4, 13:40:00
U.S. GAS PRICES
Preliminary dry gas production for January 2015 was 2,287 billion cubic feet (Bcf), or 73.8 Bcf/day, down from last month's record high of 74.8 Bcf/day. January's production was a 6 Bcf/day increase from 67.8 Bcf/day in January 2014, an 8.8% rise from year to year.
![Prices](/cache/2015/04/INDIA-13.8952a65d.jpg)
2015, April, 4, 13:35:00
INDIA GAS PRICES
India cut the price of locally-produced natural gas by 8% for six months beginning Wednesday as global energy costs slump.
![Prices](/cache/2015/04/OIL-210.038ac689.png)
2015, April, 4, 13:20:00
HEDGING HELPS
The decline in crude oil prices since last summer has had a direct impact on oil producers' sales revenue, but hedging strategies have lessened the effects of lower prices on some producers' total revenue. Oil producers who adopt hedging strategies can reduce their price risk and generate smoother financial outcomes in unstable markets. A common hedging practice is to sell futures and swaps to lock in desired prices for future production, a practice that can shield producers' revenue from decreasing prices.
![Prices](/cache/2015/04/IRAQ-25.43b6c509.jpg)
2015, April, 4, 13:15:00
IRAQ OIL RISE 15%
Iraq boosted crude shipments in March to the highest level in more than three decades, adding to a global supply glut that has helped push down oil prices by 46% in the last year.
![Prices](/cache/2015/04/ARCTIC-2.4d04df7a.jpg)
2015, April, 4, 13:10:00
ARCTIC EXPLORATION’S RISK
Arctic exploration is worth the risk. Exxon has decades of experience working in that part of the world, including successful projects in Russia — but also a catastrophic oil spill in Alaska’s Prince William Sound when the Exxon Valdez oil tanker ran aground in 1989.
![Prices](/cache/2015/03/OPEC-19.efc3ae71.jpg)
2015, April, 2, 19:40:00
OPEC EARNING: $446 BLN
Based on crude oil market assessments in the Short-Term Energy Outlook, EIA estimates that members of the Organization of the Petroleum Exporting Countries (OPEC), excluding Iran, will earn about $700 billion in revenue from net oil exports in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010.
![Prices](/cache/2015/04/OPEC-21.d207d38c.jpg)
2015, April, 2, 19:35:00
THE TALL ORDER: $80/BBL
With Saudi Arabia reluctant to cut production, crude oil prices over the next decade depend greatly on producers’ costs, says a veteran observer of oil markets and the Middle East.
![Prices](/cache/2015/03/OIL-208.8271493a.jpg)
2015, March, 31, 21:10:00
THE TARGET: $100/BBL TO 2018
The prospect of a return to $100-a-barrel crude is tempting some to bet against the bearish consensus in the oil market.