Nick Cunningham is an independent journalist, covering oil and gas, energy and environmental policy, and international politics. He is based in Portland, Oregon.
G20 countries are set to send their oil minister for an emergency meeting on Friday, a sign that there is a chance that OPEC and…
ExxonMobil saw its credit rating downgraded by Moody’s on Thursday from Aaa to Aa1, with a Negative outlook. Two weeks ago, S&P cut Exxon’s credit…
Oil prices spiked 25 percent on Thursday after President Trump tweeted that Saudi Arabia and Russia would cut production by 10 to 15 million barrels…
The U.S. government is trying to convince Russia and Saudi Arabia to end the price war, but the Trump administration has few tools at its…
Scott Sheffield of Pioneer Natural Resources blamed ExxonMobil for blocking help from the American government for the U.S. shale industry. Exxon’s refusal, Sheffield says, is…
The outlook for U.S. shale continues to darken with WTI testing sub-$20 territory. The supply glut could grow worse as the contraction in demand continues…
Unprofitable drilling, a global recession and dwindling access to capital could lead to a decline in U.S. natural gas production this year and next. The…
Widespread misery was evident in the Dallas Fed’s latest survey, which included responses from 161 energy firms and took place from March 11-19. The quarterly…
The world surplus could reach 20 million barrels per day (mb/d) in the next few weeks, threatening not only to top off storage tanks everywhere,…
Oil companies are already beginning to pare back their activity in the Permian, with cutbacks coming not just from smaller drillers, but also the oil…
The wave of oil industry spending cuts continues, with the majors now announcing significant reductions to spending as oil remains stuck in the $20s. Royal…
The U.S. shale industry is burning through cash so fast that even the state of Texas is looking at government rationed production targets. Texas Railroad…
WTI dropped into the low $20s on Wednesday, and the near-term outlook is grim. Oil lobbyists have pushed Congress for help, and a group of…
Oil producers are facing their worst crisis in history, but the market is not at a bottom yet, according to several analysts. The millions of…
The coronavirus pandemic will almost certainly trigger a global economic recession, and the recession may have already started with major economies grinding to a standstill.…
As major economies go into lockdown, oil demand continues to fall off a cliff. On Monday, WTI fell into the $20s. “The additional quarantine measures…
The recent plunge in oil prices has put the financially ravaged U.S. shale industry in the spotlight over the past week, but the market downturn…
U.S. shale companies are moving quickly to ax their budgets, hoping to staunch the bleeding as the oil market continues to melt down. It has…
The White House is considering a rescue package for the U.S. shale industry, although the idea is getting pushback from so many sides that it…
U.S. shale growth is about to decline, becoming an immediate victim of the Saudi-Russian price war. Saudi Aramco said that it would increase oil production…