Silver as an investment

Category Archives: Petroleum geology

The Great Oil Swindle

Authored by Chris Martenson via, … is leading us to destruction. When it comes to the story we're being told about America's rosy oil prospects, we're being swindled.  At its core, the swindle is this: The shale industry's oil production forecasts are vastly overstated. Swindle:  Noun  – A fraudulent scheme or action. And the swindle […]

The Coming Economic Downturn In Canada

Authored by Deb Shaw via, Canadian GDP growth has outperformed this year, helping the Canadian dollar As GDP growth slows and the Bank of Canada turns neutral, catalysts turning negative Crude oil and real estate look set for a downturn, with negative implications for the currency Given its natural resource-based economy, Canada is a […]

US Oil Rig Count Drops Most Since May 2016 To 5-Month Lows

The number of US oil rigs contonues to track the lagged price of WTI (lower). For the 4th week in the last 5 (and 10th of last 12), oil rigs declined (down 8 to 729). This is the biggest absolute rig count drop since May 2016 to the lowest total rig count since May 2017.

Hurricane Harvey Is A Disaster For OPEC

Authored by Nick Cunningham via, The skies are clearing over Houston, but the damage from the remaining elements of Hurricane Harvey has spread east to Port Arthur and Lake Charles along the Texas-Louisiana border. That has knocked more refineries offline, including the largest refinery in the United States. In the aftermath of the storm, […]

US Oil Rig Count Rises For 17th Straight Week As Crude Production Nears Record Highs

For the 17th week in a row, the number of US oil rigs rose (by 9 to 712) but US gas rigs fell. *U.S. OIL RIG COUNT UP 9 TO 712 , BAKER HUGHES SAYS :BHI US *U.S. GAS RIG COUNT DOWN 1 TO 172 , BAKER HUGHES SAYS :BHI US Texas saw an additional […]

Vitol Warns U.S. Crude Exports Will Grow “A Lot More”

Authored by Tsvetana Paraskova via, Rising production in the Permian, coupled with cheap pipeline and railway transport fees to the Gulf of Mexico, will enable the U.S. to significantly raise its already record-high crude oil exports, Mike Loya, head of the Americas business at oil trading giant Vitol Group, told Bloomberg in an interview […]

Oil Bulls Concerned By Russia’s Failure To Cut Production

If record US crude and gasoline inventories (and soaring US production) were not big enough concerns, oil bulls are starting to lose faith (hedge fund shorts at 12-week highs) after lower growth targets in China and concerns over Russia's compliance with a global deal to cut oil output sparked renewed worries over a crude oil […]

WTI Slides After Biggest Rig Count Spike In 16 Months

The US oil rig count surged by 19 to 471 last week – the biggest weekly rise since July 2015 back to 9-month highs. This is the 22nd weekly rise in the last 24 weeks and is occurring as US crude production is beginning to rise once again. *U.S. OIL RIG COUNT UP 19 TO […]