I'm worried oil could go above $100 by 2020, says CEO of oilfield service giant Core Laboratories

collected by :Frank Ithan

The long-term climb in oil prices is concerning even top oil-service executives. This gives me great concern about what crude oil prices are going to do over the next couple or three years." "Right now, we are seeing a big uptick in the amount of crude oil being used," Demshur told Cramer. The CEO noted that Mexico's oil production has slid from its peak of three million barrels a day to 1.8 million, and Venezuela's has declined from three million barrels a day to 1.4 million. I see higher crude prices in the future for sure."Shares of Core Laboratories sank 0.35 percent in Tuesday's trading session, settling at $119.67 a share.

UN could cash in on N.L. oil project - but questions linger over who would pay

Bay du Nord could be the first. Newfoundland and Labrador Premier Dwight Ball and Natural Resources Minister Siobhan Coady announced Thursday an agreement to develop the Bay du Nord oil project in a frontier area 500 kilometres from St. John's. That hasn't changed now that Bay du Nord could become a reality. Equinor hopes to sanction the Bay du Nord project by 2020, and pump its first oil by 2025. An email sent by a Global Affairs official that year described the potential Article 82 payments down the road as "significant."

Pipeline to bring oil from Permian to Gulf Coast could expand

according to Pipeline to bring oil from Permian to Gulf Coast could expandAdrian C Hedden | Carlsbad Current-ArgusChris Ramirez/Caller-TimesA crude oil pipeline intended to connect oil and gas extraction with production and exportation on the Gulf Coast could be getting bigger, ahead of its predicted first-quarter 2019 service date. Getty ImagesDiamondback itself will have 50,000 barrels per day capacity of the pipeline. Travis Stice, chief executive officer of Diamondback said the project is important to the entire extraction industry in the Permian, increasing take-away capacity for the bourgeoning oil play, and potentially connecting operators in the Permian and Midland basins. "Diamondback's transportation on and equity option in the EPIC Crude Oil Pipeline are important steps as we make progress on our broader long-term takeaway strategy," Stice said. "The EPIC Crude Oil Pipeline is a demonstration of the alignment of interests with our customers."EPIC's crude oil pipeline will run alongside the company's natural gas liquids (NGL) line, extending from Orla, Texas to the port of Corpus Christi, Texas.