Iran Sanctions Are Damaging The Dollar

Authored by Nick Cunningham via Oilprice.com, Painful sanctions on Iran have demonstrated the long reach of the U.S. Treasury, forcing much of the globe to fall in line and cut oil imports from Iran despite widespread disagreement over the policy. Yet, we are only in…

Mexico’s New President To Deal Blow To Oil Industry

Authored by Nick Cunningham via Oilprice.com, Mexico will likely halt oil auctions for at least two years, dealing a blow to its oil industry. Mexico’s president-elect Andres Manuel Lopez Obrador (AMLO) will reportedly suspend oil auctions for at least two years, according to the Wall Street…

The One Oil Industry That Isn’t Under Threat

Authored by Nick Cunningham via Oilprice.com, Peak oil demand might be near, but the consumption of oil for plastics will keep demand elevated for decades. Indeed, the IEA has said that plastics and other petrochemicals are the only sector in which oil consumption could continue…

Canadian Oil Crisis Continues As Prices Plunge

Authored by Nick Cunningham via Oilprice.com, Canadian oil producers are once again suffering from a steep discount for their oil, causing the largest spread between Canadian oil and WTI in years. Western Canada Select (WCS) recently fell below $40 per barrel, dropping to as low as…

The Regulation That Could Push Oil To $200

Authored by Nick Cunningham via Oilprice.com, Oil prices could spike as high as $200 per barrel over the next 18 months, which would cause an “economic crash of horrible proportions,” according to a new report. A research paper from economist and oil market watcher Philip K. Verleger…

Commandos Sans Frontières: The Global Growth Of U.S. Special Operations Forces

Authored by Nick Turse via TomDispatch.com, Early last month, at a tiny military post near the tumbledown town of Jamaame in Somalia, small arms fire began to ring out as mortar shells crashed down. When the attack was over, one Somali soldier had been wounded — and had that…

Venezuela Forced To Shut Down Production As Operations Fall Apart

Authored by Nick Cunningham via OilPrice.com, Every week the crisis in Venezuela takes a turn for the worse… There are now signs that its oil industry is entering a dangerous new phase. Argus Media reports that Venezuela has begun to “proactively shut in oil production to cope…