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All the latest in Oil, Gas, Commodity news and analysis

5 Ways To Play The Gaming Boom
by Meredith Taylor
25 Sep 2017 at 2:41pm
The gaming industry is a raging bull, because it?s nothing like it used to be. Games are no longer just physical products - they?re digital, and they can be updated, streamed, and improved on the fly. Game developers aren?t solely focused on selling discs and cartridges anymore ? they?re building immersive worlds and casual mobile games that players can engage with over and over again. Games are a service built on mobility, connectivity and engagement.. The video-gaming industry is set to reach $108.9 billion in worldwide?

What Happens If Trump Trashes The Iran Nuclear Deal?
by Nick Cunningham
25 Sep 2017 at 2:11pm
U.S. President Donald Trump trashed the Iran nuclear deal at the UN last week, sparking speculation about whether he intends to pull the U.S. out of the deal before a key deadline by mid-October. The U.S. president needs to recertify the agreement every three months, with the latest deadline coming up on October 15. There?s speculation that this time around, President Trump won?t issue a recertification, a move that could trigger the withdrawal of the U.S. from the international accord, with far-reaching consequences for U.S.-Iranian?

As OPEC Compliance Peaks, Can The Drawdowns Continue?
by Tsvetana Paraskova
25 Sep 2017 at 2:07pm
Since it agreed to production cuts, OPEC stated that its mission is to see the oil futures curve flip from contango to backwardation as part of its work to erase the global oil glut. Since summer began, the contango is disappearing, and now Brent and Oman futures are in a state of backwardation for the rest of 2017 and for 2018, but OPEC?s work is far from over. Contango, a market situation in which the spot prices are lower than future prices, encourages traders to store crude oil and profit from selling it at prices higher?

Russia And Saudi Arabia Are Becoming Unlikely Allies
by Zainab Calcuttawala
25 Sep 2017 at 2:03pm
Five years ago, the idea of OPEC and Russia working together on any oil and gas issue would have seemed absurd to any energy analyst worth his or her salt. But the unusual market circumstances of the past three years have made this unlikely scenario a reality. Now, Saudi Arabia, the de facto leader of the industry cartel, is venturing to deepen political ties with Russia directly, based on mutual interests over the Qatar blockade and rebalancing the supply side of the world?s oil markets. In a Saudi first, King Salman will visit Moscow next?

Cheap Oil Or A Weak Dollar: Pick One
by OilPrice.com
25 Sep 2017 at 1:59pm
Glance at this chart of the trade-weighted U.S. dollar, and note the swing highs and lows in the price of oil per barrel around each peak and trough.You can look up historical inflation-adjusted prices of oil in USD on this handy chart:Crude Oil Prices - 70 Year Historical Chart(macrotrends.net). (Click to enlarge)The correlation isn't perfect, of course. Oil was relatively cheap between 1986 and 2003, due to a relative abundance of supply as Saudi Arabia and new fields ramped up production, with two periods of extreme price?

Cracks Emerge In OPEC-Russia Oil Output Cut Pact
by Tsvetana Paraskova
25 Sep 2017 at 1:39pm
While OPEC and Russia are leading the production cut deal, Russia?s estimates for $40 oil doesn?t bode well for the future of the output pact that the cartel and a dozen non-OPEC producers led by Russia forged at the end of last year, Robin Mills writes for Bloomberg View in an article published on Monday. Russia?s largest oil producer, Rosneft, expects oil prices to average between $40 and $43 per barrel next year, and is preparing for such prices, CEO Igor Sechin said earlier this month. Sechin?s oil price forecast?

Solar Costs Are Dropping Much Faster Than Expected
by Kent Moors
25 Sep 2017 at 12:11pm
Back in 2011, the U.S. Department of Energy (DOE) began something calledThe SunShot Initiative. The intent was to set 2020 and 2030 targets making solar power more affordable in three categories: utility-scale generation, commercial, and residential. Well, the DOE recently announced that we hit the 2020 goal for utility generation? three years early. Now, these goals don?t take subsidies into account. It?s the actual technology that?s getting more and more cost-effective. In other words, solar power is quickly maturing.?

Iran Calls On OPEC To Sway Libya, Nigeria To Join Cut
by Irina Slav
25 Sep 2017 at 12:03pm
OPEC should approach Libya and Nigeria, the two exempted OPEC members who were allowed to continue raising their crude oil output despite the November 2016 deal, Iran?s Oil Minister Bijan Namdar Zanganeh told media. The official said that OPEC members are compliant with their lower production quotas at an ?acceptable? level, but rising supply from Libya and Nigeria is hampering the cartel?s efforts to rebalance the oil market. ?OPEC?s actions are working and compliance is acceptable overall, although there needs?

Is This The End Of U.S. Dominance In Global Energy?
by Tsvetana Paraskova
25 Sep 2017 at 11:46am
Russia?s Gazprom ranked no.1 in the 2017 S&P Global Platts Top 250 Global Energy Company Rankings, toppling ExxonMobil and ending its 12-year reign at the top spot, S&P Global Platts said in what it defined as the most profound change in the 16-year history of the ranking. The second most profound change was that integrated oil and gas companies were not the biggest movers up?ceding that role to pipeline companies and utilities?although they continue to be strong on the list, as they have been since S&P Global Platts?

Chevron To Invest $4B In Permian Production
by Tsvetana Paraskova
25 Sep 2017 at 10:26am
Chevron will invest some US$4 billion in 2018 to increase its crude oil output in the Permian, a senior Chevron manager said at a conference on Monday, in a sign that the U.S. supermajor will continue to bet big on the most prolific U.S. shale play. ?We will be investing roughly $4 billion, next year, of capital in the Permian Basin, and we plan to grow production over the next several years to well in excess of 400,000 bpd,? Ryan Krogmeier, Chevron?s vice president of crude supply and trading, said at the S&P Global Platts?

Does This Oil Price Rally Have Legs?
by Stuart Parnell
25 Sep 2017 at 9:50am
Yup, you heard it here first (or second, maybe even third), last week was the week that it all happened, the week that we can finally call the oil price crisis officially over. Okay, maybe not completely over, or even close to almost over, but is sure was nice for a while to taste the sweet nectar of oil prices over $50, no matter how fleeting that might be. So what happened? Well, a few things. Storage Global storage and inventory finally seems to have turned the corner. Although as mentioned before the data is hopelessly lagged, completely untransparent?

U.S.-Backed Forces Retake Syrian Conoco Gas Plant From ISIS
by Tsvetana Paraskova
25 Sep 2017 at 8:59am
U.S.-backed Syrian forces have seized a Conoco gas plant from Islamic State in the oil-rich Deir Ezzor area, depriving the militants from an important revenue source. Kurdish-led Syrian Democratic Forces (SDF), backed by the U.S.-led coalition, said on Sunday that they were making gains in eastern Syria after seizing the Conoco plan from ISIS, The Wall Street Journal reports. According to local activist monitoring group Deir Ezzour24, the SDF?s Deir Ezzor Military Council captured the village of Khasham in northern Deir Ezzor after advancing?

Erdogan Threatens To Cut Off Kurdish Oil Exports
by Tsvetana Paraskova
25 Sep 2017 at 8:24am
Turkey could cut off the crude oil flow from the northern Iraqi region of Kurdistan, Turkish President Recep Tayyip Erdogan said on Monday, putting further pressure on Kurdistan over what Ankara sees as an illegitimate separatist vote. Turkey?which is vehemently opposing today?s referendum on independence from Iraq that the Kurdistan Regional Government (KRG) has called?is crucial to Kurdistan?s oil exports to the world, because most Kurdish oil is moved through a pipeline to the Turkish port of Ceyhan. Turkey has the largest?

Baghdad Asks World To Stop Buying Kurdish Oil
by Irina Slav
25 Sep 2017 at 7:24am
A day before an historic vote for independent Kurdistan, the central government of Iraq issued a statement calling on ?neighboring countries and countries of the world? to stop buying crude oil directly from the Kurdistan Autonomous Region and only deal with Baghdad. The independence referendum, which is expected to produce a positive vote, raised Baghdad?s hackles as soon as it was floated as an idea. The idea took quite a long time to turn into reality, what with Kurdistan?s own internal political squabbles, but it did?

Iraq Says Shell May Not Quit Majnoon Oilfield
by Irina Slav
25 Sep 2017 at 7:06am
Negotiations between Baghdad and Shell regarding the company?s possible exit from the Majnoon oilfield are still continuing, Iraqi Oil Minister Jabbar al-Luiebi said on Sunday. The official added that the government had not yet begun talking about the field?s operation with other companies. Reports about Shell?s plans to quit its Iraqi oilfields, including the divestiture of its 45-percent stake in the Majnoon field, first appeared last November. The sales were to be part of a wider divestment strategy, prompted by Shell?s?

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