Art Berman

Energy Aware II

Art Berman Newsletter: September 2020 (2020-8)

By Art Berman | October 5, 2020

Missing barrels are inherent in the supply-demand accounting method that ignores inventory and only considers present period transactions.

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Energy Aware II

Art Berman Newsletter: August 2020 (2020-7)

By Art Berman | September 4, 2020

What concerns me most is what will happen when markets realize that U.S. oil production will fall to levels not seen since the early 2000s.

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Energy Blog

Stop Expecting Oil and the Economy to Recover

By Art Berman | September 3, 2020

It is unlikely that either oil supply or demand will ever return to 2018 levels.

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Energy Aware II

Art Berman Newsletter: July 2020 (2020-6)

By Art Berman | August 5, 2020

Oil prices are stalled in the low $40s for WTi and mid-$40s for Brent. Producer behavior indicates that prices need to be lower.

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Energy Aware

The Decline and Fall of the Bakken: The Red Queen Collapses

By Art Berman | July 28, 2020

Decreasing EUR and b-exponents in the Bakken are because the sweet spot or core area has reached full development. More wells are now being drilled outside the core.

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Energy Blog

Saudi Arabia Thinks OPEC+ Is Central Bank of Oil—Fire The Banker!

By Art Berman | July 15, 2020

OPEC+ has done a dreadful job of managing world oil markets over the last three-and-a-half years.

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Energy Aware II

Art Berman Newsletter: June 2020 (2020-5)

By Art Berman | July 6, 2020

I expect that $40 to $45 will be the WTI price range for the rest of 2020 barring a serious supply interruption.

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Energy Blog

U.S. Energy Dominance is Over

By Art Berman | June 18, 2020

The party is over for shale and U.S. energy dominance.

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Energy Blog

Comparative Inventory and Natural Gas Storage Report June 8, 2020 (2020-1)

By Art Berman | June 8, 2020

Gas markets are more over-supplied than they have been in 2.5 years and that the over-supply is increasing for now. That is hardly a bullish signal for gas prices.

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Energy Aware II

Art Berman Newsletter: May 2020 (2020-4)

By Art Berman | June 4, 2020

This rally has always been about correcting from that gross under-valuation back to prices at about the time of the OPEC+ failure in early March. We are there.

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Energy Blog

A Natural Gas Price Play is Wishful Thinking

By Art Berman | June 3, 2020

Lower production of associated gas does not logically account for the complexity of natural gas markets. Conventional wisdom is, after all, based on conventional thinking.

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Energy Blog

Oil Prices and Demand are not Returning to Normal

By Art Berman | May 27, 2020

We are near the end of a rally whose ceiling will be in the low $40-range for the foreseeable future.

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