The Petroleum Truth Report


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Shale Cost Reductions Are 10% Technology and 90% Industry Bust

I am tired of hearing about the unbelievable impact of technology on collapsing U.S. shale production costs. The truth is that these claims are  unbelievable. The savings are real but only about 10% is from advances in technology. About 90% is because the oil industry is in a depression and oil fi ...

Art Berman - The Petroleum Truth Report


Posted 2 days agoOpinion > Art BermanThe Petroleum Truth ReportShale +1

Don’t Hold Your Breath For $70 Oil

It is more likely that oil prices will fall below $50 per barrel than that they will continue to rise toward $70. Prices have increased beyond supply and demand fundamentals because of premature expectations about the effects of an OPEC production cut on oil inventories. Last week's 13.8 million b ...

Art Berman - The Petroleum Truth Report


Posted 1 month agoOpinion > Art BermanThe Petroleum Truth Reportoil price

The Days of Cheap Natural Gas Are Over

Natural gas prices averaged a little more than $2.50 per mmBtu (million British Thermal Units) in 2016. Those days are over. Prices will average at least $3.50 to $4.00 in 2017. Prices have more than doubled since March 2016 but gas is still under-valued. Supply is tight because demand and exports ...

Art Berman - The Petroleum Truth Report


Posted 2 months agoOpinion > Art BermanThe Petroleum Truth Reportnatural gas

Permian Giant Oil Field Would Lose $500 Billion At Today’s Prices

Did you hear about the largest U.S. oil and gas field that's in the Permian basin of west Texas? That's the one that's not a field because it hasn't been discovered yet. That's the one whose 20 billion barrels are an estimate by the U.S. Geological Survey. That's the one whose 20 billion barrels w ...

Art Berman - The Petroleum Truth Report


Posted 3 months agoOpinion > PermianArt BermanUnited States +2