After nine years and many twists and turns, the Keystone XL (KXL) pipeline project took a major step forward last Friday when Donald Trump’s State Department granted the project a presidential permit. This decision is a White House U-turn from a few years ago when Barack Obama rejected the pipeline, saying “the Keystone XL Pipeline […]
Last week, the global energy industry gathered in Houston, Texas for the annual CERAWeek conference. Compared to last year – when the price of oil was near $US 30/B – the industry’s mood was cautiously upbeat. Here are the major themes that dominated the discussion: 1. Returning to cautious growth. After many quarters in the […]
This week we are introducing a new chart in our ARC Energy Charts publication (Chart #18). Given the market’s spotlight on developed-country oil inventories, we want to monitor the progression of oil and product storage levels in two groups: the OECD Americas [1] and the rest of the OECD. As a result of the multi-year oil glut, […]
Today, the EIA released the December 2016 US oil production level. While production had pulled back slightly from the previous month, the overall trend is increasing US production. To understand where US tight oil production may be heading, it is instructive to consider not only the rig rate, but the productivity adjusted rig rate. The […]
