Stepping away from the pack, Andrew Coleman of Raymond James Equity Research is making a contrarian forecast for an oil glut in 2014. Shale oil production is on the ascent, with the United States joining Saudi Arabia on the supply side, while China's hunger for oil may be sliding and demand in developed countries remains in decline. In this interview with The Energy Report, Coleman explains his thinking and names the producers best positioned to capitalize on the turbulence ahead.
Articles Tagged "crude oil supply"
US oil production is reaching its highest levels in well over a decade; that means investors could find themselves in a major oil-price headwind in 2013.
Reuters reported that oil declined despite fears that conflict in the Middle East may disrupt supply. Gains were suppressed in part due to the expected restart of TransCanada Corp.'s (TSX:TRP) Keystone pipeline.
As more countries look to tap emergency crude reserves in an attempt to quell soaring fuel prices, many are questioning the real motives behind the move.
Crude oil production is Canada is expected to double within the next three decades, despite current tight finances and a slower pace of development in the oil sands, a new report has said. In a best case scenario, oil production is forecast to rise to 3.3 million barrels per day by 2015 from 2.7 million barrels last year, and up to 4.2 million barrels by 2025. Solely in the oil sands, production is expected to increase by 83 per cent to 2.2 million barrels per day by 2015, and climb to 3.3 million barrels per day by 2025.