Slumping Oil Prices


Why Oil Prices Keep Falling?

Back in June 2014, the price of West Texas Intermediate (WTI) crude oil was around $105 and Brent was around $115 per barrel. Today we are at around $57 and $64 per barrel, respectively.  This represents about a 40% decline in global oil prices. What happened? To put things into context, let’s look back to the middle of the 2000’s when global oil consumption was surging and outstripping supply, due in large part to China. This led to the WTI oil spike of approximately $148 per barrel in July of 2008.  Since then, for the most part, oil had traded at or above $100 per barrel until the middle of 2014.  So…
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State of the Industry – Jobs


There are still no clear answers how the market will play out for 2015 for both field service and professionals in engineering and geoscience, but some expected reactions are coming exactly as expected. The overall decline for field service workers has declined nearly 45% over the last three months and needs for engineering, geoscience and technical professionals for service and operating companies as declined over 38% in that same period of time.
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Energy 2015 – Five Developments to Watch in the US and Beyond


What does 2015 have in store for the energy industry? Making predictions is always a difficult proposition, and trying to predict the price of crude is a daunting task. As they say, if you are going to forecast, forecast often.
 
But looking back on events and activities this past year gives us some comfort to forecast the trends and “big picture” happenings that we’ll likely see in 2015. So, here are my thoughts on the top five energy industry developments to be aware of next year – regardless of whether the price of crude oil goes up or down:
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Cure for Industry Hiccups: Congressional Action


While OPEC (Organization of the Petroleum Exporting Countries) and Saudi Arabia hope to have delivered a fatal blow to the American oil and gas industry in the form of unflagging production levels despite the current glut of oil on the market, the reality is more akin to a hiccup.
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