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Search resuls for: "Rapidan Energy Group"


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☆ The OPEC+ call to cut production is a risk management decision, says Rapidan's Bob McNally
  + stars: | 2023-04-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe OPEC+ call to cut production is a risk management decision, says Rapidan's Bob McNallyHelima Croft, RBC Capital markets head of global commodity strategy, and Bob Mcnally, Rapidan Energy Group founder and president, join 'The Exchange' to discuss the OPEC+ decision to cut production, U.S. production of crude oil being catalysed by the OPEC+ cuts.
☆ Reaction: OPEC output cuts to roil markets
  + stars: | 2023-04-02 | by ( ) www.reuters.com   time to read: +3 min
The OPEC move and Russia's extension through year-end of cuts was a coordinated effort that signaled the OPEC+ remains in charge of global markets. ANDY LIPOW, PRESIDENT, LIPOW OIL ASSOCIATES"It’s very significant that the majority of the production cuts are coming from the core OPEC members. "OPEC is clearly concerned about lower oil prices impacting on their individual government budgets. The 1 million barrel per day cut is likely to be from production quotas and result in an actual production cut of somewhat less. This is the biggest surprise since January 2021" when OPEC+ disclosed a gradual increase in output follow COVID cuts.
☆ 2023 will be probably a 'pretty volatile' year for the oil market, energy consultancy says
  + stars: | 2022-12-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email2023 will be probably a 'pretty volatile' year for the oil market, energy consultancy saysBob McNally of Rapidan Energy Group says "we're in the foothills — that means we could go up or down as we did this year."
☆ China will remain a 'big buyer' of crude oil, energy consulting firm says
  + stars: | 2022-11-29 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina will remain a 'big buyer' of crude oil, energy consulting firm saysBob McNally of Rapidan Energy Group says the country's imports are "quite robust," and demand for crude, including for Russian oil, will be "quite strong" even through the winter.
☆ Shale firms discount 'U.S. put' as inadequate to lift oil output
  + stars: | 2022-10-22 | by ( Arathy Somasekhar Stephanie Kelly | Arathy Somasekhar | Stephanie Kelly | ) www.reuters.com   time to read: +2 min
"That announcement was making it appear like he was throwing a bone to the oil industry," said Tricia Curtis, CEO of consultancy PetroNerds, who dismissed the offer. Register now for FREE unlimited access to Reuters.com Register"What if oil does not fall to that price: Do we just keep our reserves low?" U.S. oil prices hit $120 per barrel this year and did not trigger a production boom because of shortages and high costs for labor and equipment, said Hunter Kornfeind, oil market analyst at Rapidan Energy Group. Rebecca Babin, senior energy trader at CIBC Private Wealth, said tight oil supplies have pushed up price expectations into 2024. If the Biden administration wants to boost oil supplies, it "should change its policies around producing more oil and gas in the United States," said Frank Macchiarola, a senior vice president at trade group American Petroleum Institute.
☆ Fury at Saudi Arabia revives calls for US to throw the book at OPEC
  + stars: | 2022-10-07 | by ( Matt Egan | ) edition.cnn.com   time to read: +8 min
New York CNN Business —OPEC+’s decision to slash oil production has set off bipartisan fury in Washington directed at the Saudi Arabia-led group, raising calls for a hard-hitting US response. And as Democratic Congressman Ro Khanna told CNN earlier this week, in some ways the United States is less dependent on Saudi Arabia and other OPEC nations than in the past. US oil production has skyrocketed over the past 15 years, driving down foreign oil imports. Last year, US crude oil imports from OPEC nations stood at just 798,000 barrels per day. OPEC nations are among the only countries with the firepower to fill any gap created by the potential loss of Russian supply.
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