How Much is a Barrel of Oil?

That depends on where the oil is.  Currently, Brent crude is trading at approximately $80/bbl.  U.S. benchmark crude futures, priced at Cushing, OK, are trading about $10/bbl. below Brent, and cash prices in the prolific Permian Basin are even lower.  However, the “prize?” goes to Canada, where Western Canada Select crude cash prices are currently … Continued

Oil Prices, Rig Counts and Day Rates

The price of oil has proven to be remarkably difficult to predict.  While the long term outlook is likely to reflect supply and demand, near-term fluctuations have been prone to sharp, often inexplicable price changes. For at least fifty years, conventional wisdom was focused on the eventual depletion of all known reserves and an ensuing … Continued