Articles Tagged: energy markets

Goldman Sees 15 Years of Weak Crude as $20 U.S Oil Looms

A glut of crude may keep oil prices low for the next 15 years, according to Goldman Sachs Group Inc. There’s less than a 50 percent chance that prices will drop to $20 a barrel, most likely when refineries shut in October or March for maintenance, Jeffrey Currie, head of commodities research at the bank, said Wednesday in an interview in Lake Louise, Alberta. Goldman’s long-term forecast for crude is at $50 a barrel, he said.

Fossil fuels and renewables incur similar future costs

Are renewable energies coupled with energy efficiency too expensive? Regardless of whether the Swiss people choose a future based largely on fossil fuels, nuclear power or a combination of renewable energy sources, the cost of our future energy system is not likely to vary much. At least that’s what Energyscope.ch, the energy calculator developed by EPFL, has determined.

Iran Deal: The Effect on Global Oil Markets

Despite last minute efforts to derail the agreement, the nuclear accord with Iran is a done deal. While generally agreeing that lifting Iranian sanctions will bring more oil to market, analysts have delivered divided opinions on the timing and effect.

OPEC: The US shale boom is over

The US shale boom is grinding to a halt. In its latest monthly oil-market report, published Monday, the 12-member oil cartel OPEC said US oil producers were finally beginning to feel the squeeze of lower oil prices.

Russian Controlled Gas Pipelines Bad For Europe Energy Security, According To Ukraine

Ukraine state-owned energy giant, Naftogaz, warned Friday that the Gazprom -led natural gas pipelines currently connecting Europe to Russian gas fields is more bad news than good. “Russia’s Nord Stream-2 and the new Turkish Stream pipelines provide additional choice, and more choice is a great thing. However, it is a great thing not for the European consumers but for their Russian supplier,” said Andry Kobolyev, the CEO of Naftogaz. “It will be Russia that decides where, to whom and on which political conditions it is going to supply its gas in Europe,” he said.

IMF urges Saudi action on domestic energy prices and wage bill

The International Monetary Fund has urged Saudi Arabia to reduce domestic energy subsidies and its public sector wage bill as the world’s top oil exporter wrestles with plunging crude prices. Oil prices fell to a more than six-year low near $42 a barrel last month, while Saudi government spending increased after the king ordered bonus salary payments in January following his accession to power.

Contain Iran with oil, U.S. export backers say

With Iran expecting to return to the global energy market, U.S. allies need a reliable source of crude oil in the way of exports, a production supporter said. The House Foreign Affairs Committee scheduled hearings Wednesday on the implications of a nuclear agreement reached in July between Iran, the five permanent members of the U.N. Security Council, plus Germany.

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