Three Factors That Will Drive Oil Prices Higher

For the rest of 2016, Moors expects WTI crude oil to trade in a range of around $40 per barrel minimum and rise to a range of $60 per barrel in 2017.
Despite that forecast, the markets have seen near-term fluctuations. In late July, markets reacted to a drop in oil prices. WTI crude oil price fell to $42.41 per barrel, the lowest price since mid-April, when it closed at $39.78. Futures dropped 12.2%. The Brent crude price per barrel was down 11% in late July.

Why such a relatively steep decline? Some analysts are concerned about rising supplies of oil in the United States. You see, the Baker Hughes (NYSE: BHI) oil rig count has been climbing. During July, BHI reported that active rigs were increasing for the four straight weeks.

A rise in rig count during 2015 led to a drop in crude oil prices of 50%. Morgan Stanley (NYSE: MS) estimates that supply outside of the OPEC producers will climb this year – and that crude prices per barrel will bottom at $35 in 2016.

Moors cautions that the pullback in oil prices is a normal market fluctuation, and oil won’t fall as low as Morgan Stanley predicts.

He cites three reason that support his $50 per barrel price range this year – and a rise to a $60 range for WTI per barrel in 2017.

The first bullish factor for oil prices is peaking worldwide output.

In the early part of the year, output by OPEC hit more than 32 million barrels daily, its highest level in nearly two decades. Output in Russia reached nearly 11 million barrels, the highest level in three decades.

Moors observes that production in the U.S. from shale is reaching a high as well. You see, tight oil wells and shale oil wells pump the majority of their production within the first year and a half.

According to Moors, production of oil by shale drilling, though, becomes expensive. As a result, oil companies are moving to a type of well dubbed “drilled but uncompleted” (DUC). As the term implies, a DUC hasn’t reached its output peak. They still have oil, so oil companies are going back to them.

Why? They are more affordable than other methods of obtaining oil.
DUCs are slowly being used to supplant shale as an oil supply source. The oil companies don’t want more supply flooding the market.

As Moors puts it, “an increase in DUCs doesn’t mean we are approaching some major boost in production. But they also represent another element restraining the slide in prices.”

The second factor supporting a bullish oil price forecast is falling supply due to the financial situation at oil companies. They can’t afford to keep wells working when their product commands just $46 per barrel at the market.

Over the past two years, supply has been on a steady downward march – which Moors estimates will not reverse soon. According to the BHI rig count, active U.S. oil rigs totaled 337 in late June. At its peak two years ago? Rigs totaled approximately 1,600. That’s a whopping decline of nearly 79%.
Because oil rigs can cost between $500,000 to $3 million to operate and maintain, it is not cost-effective to keep them going until crude oil starts to hit $65 per barrel. Production may ramp up when it hits that level. Most companies need WTI crude to be close to $70 per barrel before they hit reasonable profitability.

So, the BHI rig count shows that the oil companies are shutting down more and more oil rigs. Essentially, we will see a dropping count until supply is constrained enough to drive prices higher.

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Save Big On Your London Trip By Proper Planning And Research

If you are a true adventurer at heart, you will want to plan and organize yourself the family trip to London you are thinking of. If you do not have time or do not know how to use the mouse and go online, then you will have to rely on your travel agent. Unfortunately, in such case your choices will be limited to what the agent will arrange for you. He or she may give you some brochures or can give you some London travel tips, especially if they went to London themselves.

But you and your family members will have much more fun if you try to prepare DIY vacations in London. In most cases it will cost you less and you will have double the fun – both during the preparations for the trip and when you actually get there.

It is important that you involve in planning and preparations all members of the family that will go with you – especially the teenagers! They will feel important, they may provide you with interesting input and the whole planning task will be a very useful educational job for them.

Most importantly, you will know what the expectations are learning about them will help avoid future disappointments and quarrels when you come to London. Such as about where to go and how to get there – e.g., going to one more museum or to do window shopping at Stella McCartney’s store, or whether to have a family meal at a pub or an ethnic eatery. Or other strategic issues, such as when to wake up, when leave the hotel and when to go to bed. It’s good to agree on that ahead of time and even put that in writing.

You should start the trip planning process by having a family meeting. Do brain storming to find out what the expectations about the trip are. Put in writing all of the ideas for the best London trip you would like to have. Start a London trip planning binder or folder and bring it to that meeting. You may already have some pictures and articles downloaded from the Internet and brochures from local travel agents.

By the way, I guarantee you that in the future you will appreciate having your stuff neatly gathered in that binder. It will be convenient and time saving and you will have quick and easy access to everything related to your London trip. You may even take the whole folder or at least part of it with you – to London.

Now, another smart move is to split the planning and research between family members – e.g., somebody works on finding the best airfare and accommodation, the other person plans the sightseeing itinerary and another one (if applicable) works on moving around the city and finding best shopping and dining. By doing that you will get everybody involved and excited during much longer period than the week you will be spending in London.

What is the best way to conduct your online research to prepare your London trip? Most of the people would go to Google and rely on that most popular search engine. It is true that you can be just fine by using it and its other popular products – like Google Earth. Some people say they do not have to travel to the UK; they can visit every corner of London with the powerful Google Earth program! Another excellent Google product you will find useful is Google pictures – it will help you easily recognize the London landmarks when you land there.

But I would like to suggest that you also use another search engine for your London trip research and planning. It is called Clusty – [http://clusty.com] – and it uses clusters – a bit different technology and presentation of search results. I found it very useful and convenient and use it a lot.

While doing your online research, use a methodical approach – create a folder in your Favorites, you can call it “London Trip” or something like that. Divide it into a number of sub-folders (e.g., Flights, Hotels, Museums, Castles, Entertainment, Dining, etc.) and save your most interesting findings accordingly.

The other good idea is to print the most important things and keep them in the trip folder for easy access.

Those are some of the most important planning tips that will make planning of your family trip much easier. If you use them, you will be well organized and as a result, you will save time and possibly money too – it will be easier for you to find great flight and hotel deals. Moreover, by making your preparations in such a methodical way, you will have all the bases covered and instead of unpleasant surprises, you will have a lot of fun when you finally get to London.

Online Travel and Tourism Career Preparation

When looking to pursue a career in travel and tourism an education will help you to obtain the skills and knowledge you need to be successful. Becoming a professional can require you to learn various skills in order to provide the best services. Online career preparation is available through numerous schools and colleges. Online learning programs offer training at the certificate and degree level. You can start by looking into the level of education and career you wish to obtain.

Learning to work in the field of travel and tourism can be done by completing an accredited educational training program. This can be done online from the comfort and leisure of your own home. Training options include being able to pursue various certificates and degrees ranging from an associate to a master level. The length of training will be based on the level of education you decide you want to earn.

Certificates can require anywhere from several weeks to one years of accredited online training.
Associate degrees typically take two years to complete and obtain in the field of travel and tourism.
Bachelor degree programs can require you to fulfill four years of online learning to obtain.
Master degrees will take you an additional two years of accredited online study to earn.

When you choose to pursue an education and career in this field, you will be able to study various topics that will help you to complete all required training.

Coursework differs between online career preparation programs as well as the level of desired education. You can expect to learn a variety of subjects that relate to your specific career and education goals. Subjects of study may consist of:

Marketing and Sales Techniques
Computer and Reservation Systems
Accounting and Bookkeeping Courses
Cruise Line Information
Travel Destinations

…and many other courses that may relate. Online learning provides you with skills in these areas to help you enter into a successful career. You can choose from a number of professions in travel and tourism by earning an accredited online degree or certificate.

Possible career will vary based on the level of education you choose to pursue. You can expect to receive the training needed to enter into employment as a:

Cruise Sales Manager
Reservationist
Travel Agent
Corporate Travel Counselor
Property Manager

…and many other travel and tourism related professions. You can be sure that the education you receive will prepare you for career such as these by ensuring it carries full accreditation.