Our View

Current Oil Industry Expenditures on E&P Adequate

In its 2018 World Energy Outlook, the IEA asserts that "approvals of conventional oil projects need to double from their current low levels" to meet projected increases in global demand. We disagree. Current expenditure levels are adequate. Investors should demand continued capital discipline. See the summary of our study here.

Price Curves for Three Crudes

Forward price curves for WTI Cushing, WTI Houston, and Brent. Click on graph to enlarge it.

Blindsided by Gasoline: IMO 2020 Preview (November 12, 2018) -- Those who watch the oil market have been blindsided by the market equivalent of a fully loaded sixteen-wheeler.

More >>