In The News

Wednesday, 04/22/2020

April 20, 2020 – CNBC

Coronavirus harms the oil market more than OPEC friction, oil commodities expert says

By Tyler Clifford

The coronavirus pandemic is weighing more on the oil market than the price dispute between OPEC and its allies, RBN Energy CEO Rusty Braziel told CNBC’s Jim Cramer Monday.

RBN Energy is a privately held energy commodities analytics company based in Houston that plays a role between physical markets and financial markets.

“I would say that, just off the top of my head, 15% of this is Saudi...

Friday, 04/17/2020

April 16, 2020 – S&P Global Platts

US oil, gas rig count plunges 74 to 567 on week as output cuts continue: Enverus

By Starr Spencer

Analysts and other observers say millions of barrels per day more of production cuts are needed to have an effect on prices.

On Tuesday, the Texas Railroad Commission held a live-streamed public hearing to discuss prorationing, or state-mandated cuts for producers in the state. At issue was a 20% cut for large and midsized operators; small producers with less than 1,000 b/d of oil output would be...

Thursday, 04/16/2020

April 15, 2020 – Wall Street Journal

Glutted Oil Markets’ Next Worry: Subzero Prices

By Sarah Toy

The coronavirus pandemic is turning oil markets upside down.

While U.S. crude futures have shed more than half of their value this year, prices for actual barrels of oil in some places have fallen even further. Storage around the globe is rapidly filling and, in areas where crude is hard to transport, producers could soon be forced to pay consumers to take it off their hands—effectively pushing prices below zero.…

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Thursday, 04/16/2020

April 6, 2020 – Reuters

CANADA CRUDE-Heavy discount widens as talks on global oil cut delayed

Reporting by Jeff Lewis; Editing by Richard Chang

* “The biggest driver (for the differential) is the concern over Alberta oil storage filling to operational limits,” said Martin King at RBN Energy. * Global oil prices fell 3.6% after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help to reduce global oversupply as the coronavirus pandemic pummels demand…

Read the full article here:...

Thursday, 04/16/2020

April 5, 2020 – CBC News

'There is some upside': Optimism in natural gas sector a result of oil industry's crisis

By Kyle Bakx

So far this year, natural gas in Western Canada has averaged about $2 per million British Thermal Units, although the price now sits at about $1.60.

Martin King, a Calgary-based commodities analyst with RBN Energy, expects the price to average about $1.90 for this year.

"For the summer and a good portion of the rest of the year, I think we could see respectable pricing for natural gas here...