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Will the Oil Demand Continue?

By: Sam Stires / Posted on: November 14, 2019

According to a global energy industry forecast, oil growth will continue to soar until the 2030’s and climate-damaging emissions will keep climbing until at least 2040. The World Energy Outlook is not only closely watched by the oil industry but also the governments due to its relevance to climate policy. The International Energy Agency said that almost 20% of the growth in last year’s global energy use was “due to hotter summers pushing up demand for cooling and cold snaps leading to higher heating needs.” The Internation Energy Agency (IEA) forecast global oil demand to be 106.4 million barrels per day by 2040 (up from 96.9 million last year).

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Russia Upping the Ante

By: Matt Karol / Posted on: October 25, 2019

After the recent attacks on the oil processing facilities in Saudi Arabia, demand for spot crude oil has risen.  Russian oil demand has been very strong in the Asian market as a result of it. With recent U.S. sanctions on Chinese cargo ships, freight rates have spiked on tankers in the Pacific.  This has prompted the Asian market to bid on freight that ship shorter distances, making the option of Russian crude oil more desirable.

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Sand Demand

By: Matt Reese / Posted on: July 24, 2018

There is a new land grab in the Permian Basin that may ease the bottlenecks of oil producers in the west Texas region. Oil Producers pump frac sand and other materials into wells to break up shale rock in order to produce oil.  These wells are getting longer and wider which increases the amount of sand used.  The need for frac sand is increasing as U.S. rig counts hover above 1,000 nationwide.

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How Does the Tariff Talk Affect the Oil Industry?

By: Mike Dombroski / Posted on: June 19, 2018

Oil prices are lower this morning sparked by increasing trade war fears between China and the U.S. after President Trump sought to impose another $200 billion worth of tariffs yesterday.

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Retracement?

By: Pam Corn / Posted on: May 29, 2018

On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%. 

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