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October 4, 2019
Geoffrey Craig, Global Energy Analyst
Saudi Arabia has begun to replenish its crude inventories as production returns to normal levels following the September 14 attacks.
With fears over supply losses mostly gone, oil prices have fallen as attention returns to the global economy and concerns over weak demand.
Is this the correct response? Are fundamentals as...
September 27, 2019
Can Saudi Aramco make good on its promise to fully restore production by September 30?
That deadline is approaching fast and comes just 16 days after the attack on the Abqaiq processing facility and Khurais oil field damaged major pieces of infrastructure.
But the oil market remains skeptical Aramco can quickly fix the...
September 20, 2019
It was arguably the most significant event in the oil market since Iraq’s invasion of Kuwait before the 1991 Gulf War.
The September 14th attack against Saudi Arabia’s oil infrastructure damaged the world’s largest oil processing facility and the country’s second-largest oil field.
The disruption to supply -- equal to 5%...
September 12, 2019
A team from Ursa traveled this week to Singapore to attend the Asia Pacific Petroleum Conference (APPEC), one of the major events on the oil industry calendar.
There was no shortage of topics to talk about.
This year’s event took place against the backdrop of the US-China trade war, worries over the health of the global...
September 6, 2019
As Hurricane Dorian struck the Bahamas, the slow-moving storm caused severe devastation due to high winds and flooding.
People were desperate for updates, but unfortunately, getting news was very difficult.
Some of the best information about the hurricane came from satellite imagery, specifically synthetic aperture rad...
August 30, 2019
Venezuela’s crude oil inventories increased significantly in August as tougher US sanctions make it more difficult for state-owned PDVSA to sell oil overseas.
With fewer customers willing to buy Venezuelan crude, the amount of oil in storage at the main export terminal, El Jose, soared by almost a third over the three w...
August 23, 2019
An inverted US Treasury bond yield curve. China’s industrial growth at a 17-year low. Negative German GDP growth.
These headlines have roused fears the global economy is slipping into recession.
This backdrop has also weighed heavily on commodities, with some forecasters lowering their projections for oil demand growth.
August 16, 2019
In early December 2018, the Alberta provincial government took a dramatic step to address the oversupply of oil that was causing the collapse in Canadian crude prices.
Local oil companies were told how much they could produce, starting January 1, making Calgary feel more like an OPEC capital than a freewheeling oil tow...