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1. Goldman Sachs Sees Oil Prices Rising By Up To $6 On Saudi Production Cut

   Crude oil prices could add some $6 per barrel following the announcement of a 1-million-bpd production cut by Saudi Arabia. That’s according to Goldman Sachs, which sees the effect of the cut as a range of between $1 to $6 per barrel depending on how long the cut is kept in place, as reported by ZeroHedge. This is not a whole lot, meaning recessionary pressures continue to exert their influence over commodity traders but also over actual demand for oil. Reuters’ market analyst John Kemp reported last week the U.S. manufacturing sector…

2. Oil Prices Climb As Saudi Arabia Goes It Alone With Additional Cut

   Crude oil prices rose by more than 1% in early trade today following the OPEC+ meeting that took place Sunday. At that meeting, Saudi Arabia said it would voluntarily cut its oil production by another 1 million barrels daily next month in a bid to prop up global oil prices. Oil prices did initially spike on Sunday, with WTI nearing $74 and Brent climbing toward $78 before both falling back. One other member of the cartel, the UAE, was allowed to actually increase its output but about 200,000 bpd, while several others got their production quotas…

3. ExxonMobil: New Fracking Technology Can Double Oil Output

   The U.S. shale revolution dramatically reshaped the world energy markets. The shale boom was one of the most impressive growth stories, from take off in 2008 to the Permian stealing the mantle from Saudi Arabia’s Ghawar as the world’s highest producing oilfield in a little over a decade.  Overall, Reuters has estimated that, “U.S. petroleum production is at least 10-11 million bpd higher than it would have been without horizontal drilling and hydraulic fracturing.’’  Unfortunately, the shale patch has lately…

4. Insurers Signal Fallout From Sanctions On Russia

   A year ago, the Financial Times reported how maritime insurers were concerned that sanctions targeting Russian oil exports would disrupt global supply chains, lead to higher prices, and make life for shippers and insurers more stressful. This week, the same publication sounded the sanction alarm again. But it is no longer a general concern about supply chains, oil prices, and the price cap compliance woes of shippers and insurers. It is now a much more direct concern about how cap-compliant companies are suffering lost business…

5. Making Energy From Miniscule Man-Made Clouds

   A team of scientists at the University of Massachusetts at Amherst has discovered how to generate energy from thin air by creating man-made clouds. Most importantly, the method can be conducted using “a broad range of inorganic, organic, and biological materials.” The flexibility of this new form of energy production shows incredible promise for scaling what could be a virtually limitless source of clean energy. The paper describing the groundbreaking results, published in the scientific journal Advanced Materials, has enormous…