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Crude Oil Prices

Did you know? Oil and bamboos

Did you know? Oil and bamboos

Chinese used bamboos for oil pipelines. JERICAN | 2006/10/28 That the Chinese used oil from natural seeps as fuel to boil salt brine into salt. Initially bamboo was pounded vertically into oil containing seeps and removed by suction. With time this led to drilling for oil, as they needed to…

Shale producers won OPEC’s oil price war

Shale producers won OPEC’s oil price war

In spite of Saudi Arabia's best efforts Shale oil is winning. We look at how shale industry evolved and the path ahead. STEVE AUSTIN | 2017/06/07 Some wars are fought on the sidelines. They too are full of ideas, intrigue and bravado. Some backfire thoroughly. The Saudis took a brunt…

Thank finance for sharp oil price decline

Thank finance for sharp oil price decline

What has led to the low oil prices? Oversupply, increased production or market corrections? We take a look to see beyond the obvious. STEVE AUSTIN | 2017/07/26 Already, crude oil prices are down by well more than 18% compared to early 2017. Oil production has risen in countries like Libya…

Impact of Hurricanes on oil prices

Impact of Hurricanes on oil prices

Harvey caused massive destruction and damages to Texas. We take a detailed look on the ramifications for oil. STEVE AUSTIN | 2017/09/18 Harvey, making landfall as a Category 4 hurricane, battered southeast Texas a few days ago. Though downgraded to a tropical storm later on, it left a trail of…

Oil prices gyrate amid geopolitical concerns

Oil prices gyrate amid geopolitical concerns

Well, only three months into the year and so far 3 of our 9 initial predictions for 2017 have already unraveled and the rest are in the process of doing so. keystone pipeline is happening oil prices remain in the $50 range major new pipelines are being built to corner…

Novel Oil Recovery

Novel Oil Recovery

Novel Oil Recovery By JERICAN for OIL-PRICE.NET, 2006/10/29 It is often assumed that most of the oil can be pumped and recovered from an oil pool. Unfortunately this is rarely possible even with the use of horizontal wells. Oil wells drilled in the Southern United States have an initial recovery…

Did you know? Seismic oil discovery

Did you know? Seismic oil discovery

Did you know? Seismic oil discovery By JERICAN for OIL-PRICE.NET, 2006/11/12 In 1924, the discovery of an oil field beneath the Nash salt dome in Brazoria County, Texas, was the first to be based on single-fold seismic data. Before that, oilfield exploration was very much a guessing game based on…

Placing the oilfield drill bit to record depths : Pt 1 Jack field

Placing the oilfield drill bit to record depths : Pt 1 Jack field

Placing the oilfield drill bit to record depths : Pt 1 Jack field By JERICAN for OIL-PRICE.NET, 2006/11/13 Until recently, seismic images from below deep salt formations were muffled and largely useless. New advanced mathematical formulas and other new technology allow interpreting the images, bringing potential new discoveries of oil…

Did you know? Crude oil saved the whales

Did you know? Crude oil saved the whales

Did you know? Crude oil saved the whales By JERICAN for OIL-PRICE.NET, 2006/11/25 A clean-burning kerosene lamp invented by Michael Dietz in 1857 saved the whales from extinction. Prior to the 1800s, torches, candles made from tallow, and lamps which burned oils rendered from animal fat were in popular use.…

Placing the oilfield drill bit to record depths : Pt 2 Jack field

Placing the oilfield drill bit to record depths : Pt 2 Jack field

Placing the oilfield drill bit to record depths : Pt 2 Jack field By JERICAN for OIL-PRICE.NET, 2006/11/26 The Jack Field oil discovery was greeted by the American news media with euphoria. On September 6,2006, The New York Times carried this big headline, "New Oil Field in Gulf May Yield…

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