OPEC Exports Up

Oil prices retreated more than 3 percent on Wednesday, ending their longest bull-run in more than five years, as climbing OPEC exports and a stronger dollar turned sentiment more bearish. Brent crude futures were down $1.61, or 3.3 percent, at $48 a barrel by 11:56 a.m. EDT (1556 GMT). Prices had climbed for eighth straight …

Oil Down

Oil prices tanked in Wednesday’s trade, poised to snap their longest run of gains since 2010 after Russia ruled out any proposals to deepen the OPEC-led production cuts. Oil prices were “exposed to heavy losses on Wednesday after reports of Russia opposing any further supply cuts attracted a school of sellers to attack,” said Lukman …

What Oil Company Grows in California Oil Meltdown

With the recent meltdown in oil prices, major oil companies in California like Occidental, Shell, Chevron and Conoco Phillips have been forced to curtail or shut down production. Although they continue to follow a path of discovery almost all of those discoveries revolve around shale and the high infrastructure and geo political costs associated.   A …

Continued Oil Discoveries Creates Business and Market Momentum for this Small Cap Company

Momentum is described in the dictionary, “as the amount of motion occurring in something that is moving, or the force that drives something forward to keep it moving”.  Momentum seems to be what Petro River Oil (PTRC) is experiencing now.  They have announced a third well to be drilled in as many weeks with success …

OPEC Agreement Adds To ‘Trump Rally’

Oil prices soared nearly 10% on news that OPEC has reached a much anticipated agreement to reduce output by 1.2M barrels per day, bringing the total daily production to 32.5M bpd. The agreement, which was announced Wednesday at 11:00am EST, is contingent on a reduction of production by 600,000 bpd from non-OPEC countries, with Russia …

This Oil Company Goes Old-School, Shuns Shale

In an era of shale, Petro River Oil (PTRC) is going old-school. The shale revolution has been the driving force behind America’s resurgence as a leading oil producer. However, given the costly nature of shale projects, Petro River has shunned them. Instead, the New York-based company targets conventional oil that can turn a profit no …

Northern Ireland—The Last Great Frontier?

Europe’s Carboniferous basins have long been prolific sources of hydrocarbons and characterize many of the fields in and around the North Sea. But one of these basins is virtually overlooked. The Larne Basin in Northern Ireland is a classic Carboniferous basin that has remained unexplored for a couple of reasons. Firstly, historical “troubles” in Northern Ireland deterred the oil companies who were …