Oil Buyers Guide

Goodrich Strained as Oil Reaches Its Break-Even Prices

December 16, 2014

BY SPENCER CUTTER, BLOOMBERG INTELLIGENCE Goodrich Petroleum bonds due in 2019 have sold off by 50 percent since June, indicating that financing the company’s 2015 capital spending budget with additional debt would be difficult.The company may need oil to be as high as $64 a barrel to be profitable. Goodrich Petroleum’s $250 million

Goldman Sees U.S. Oil Output Maintained as Costs Sink

December 15, 2014

BY BEN SHARPLES U.S. producers, pumping crude at the highest rate in more than three decades, may increase output further as costs decline almost as fast as oil prices, according to Goldman Sachs Group. The slump in benchmark U.S. futures, down more than 40 percent this year, is driving producers

Oil Buyer's Guide 12.9 Featured Image

Cushing Pipeline Outflow Decreases, Genscape Says

December 9, 2014

Monitoried pipeline outflow from Cushing, Oklahoma, decreased sharply last week, dropping by 241,873 barrels a day to average 906,014 barrels a day, according to Genscape. The drop was mostly on the Seaway pipeline, which saw average throughput almost halve, dropping to 183,746 barrels a day during last week, down 161,673 barrels. Average flow on the TransCanada Gulf Coast pipeline fell

Oil Buyer's Guide 12.2

Iraq, KRG Government Reach Agreement on Oil Exports

December 2, 2014

BY KHALID AL-ANSARY AND JAKE RUDNITSKY Iraq reached a deal with the Kurdish authorities on oil exports through Turkey, paving the way for increased shipments to international markets.The deal allows the shipment of 300,000 barrels a day of Iraqi Kirkuk blend to the port of Ceyhan on the Mediterranean along a pipeline

Iraq, Iran and Libya May Be Spared From OPEC Oil Cuts

November 25, 2014

BY MAHER CHMAYTELLI, GRANT SMITH AND RUPERT ROWLING OPEC is considering exemptions for three nations from any potential oil-production cuts, two people with knowledge of the proposal said. Saudi Arabia’s oil minister said he doesn’t anticipate a difficult meeting when the group meets on Nov. 27 to decide its response to slumping crude.

Cushing Pipeline Outflow Increases, Genscape Data Shows

November 18, 2014

Crude pipeline outflow from the Cushing, Oklahoma, storage hub increased by an average of 82,338 barrels a day last week, Genscape said in a report. Both the TransCanada Gulf and Seaway pipelines carried more crude from Cushing last week. Seaway flow increased by 21,890 barrels a day to average 284,922 barrels last week, remaining below the 300,000 barrel-a-day level for the

Cushing Pipeline Outflow Decreases Steeply, Genscape Said

November 11, 2014

Total pipeline outflow from the Cushing, Oklahoma, storage hub fell steeply last week after three weeks of increases, Genscape said in a report. Total outflow from Cushing fell by an average of 280,082 barrels a day, with Seaway flow down by 45,017 barrels a day to average 263,032 barrels. The TransCanada Gulf Coast line saw its pumping rate almost

Options Show WTI Has Less Potential for Rally Than Analysts’ Forecasts

November 4, 2014

  Bloomberg’s Commodity Forecast Monitor shows that there is a higher implied probability of a rally in WTI to $90 a barrel than a drop to $70. The monitor uses the volatility surface of WTI options to track implied probabilities. The monitor’s current results are less bullish than analysts’ forecasts for the fourth quarter — forecasts collected by

Shell Wants 5 Years to Solve Arctic Oil Problem

October 28, 2014

BY JIM SNYDER Royal Dutch Shell Plc is asking the Obama administration for five more years to explore for oil off Alaska’s coast, saying setbacks and legal delays may push the start of drilling past the 2017 expiration of some leases.Shell, which has spent eight years and $6 billion to

Cushing Crude Pipeline Outflow Increased Last Week, Genscape Data Show

October 21, 2014

Pipeline outflow from the Cushing, Oklahoma storage hub increased last week after falling for the previous two weeks, as flow on both the TransCanada Gulf Coast and Seaway lines rose, Genscape said in a report. The EIA will release its weekly report on Cushing inventories tomorrow. Total outflow from Cushing rose by an average of 238,456 barrels a