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Peak demand? More like a supply crisis propelling oil to US$100
Peak demand? More like a supply crisis propelling oil to US$100 The world stands on the cusp of an oil supply crisis. Years of insufficient investment in offshore mega-projects combined with the end of U.S. shale hyper growth and a recent shift by global supermajors to preferentially invest in alternative energy over traditional hydrocarbons have […]
BP peak oil (UK decline, asset sales and decommissioning Part 1)
BP peak oil (UK decline, asset sales and decommissioning Part 1) West of the Shetland Islands, the battle against oil decline is over for BP. SPGlobal reports: BP halts production at oldest West of Shetland oil facility Foinaven on asset decline 15 Apr 2021 London — BP has halted production at its oldest West of […]
The coming oil shortage – Part I
The coming oil shortage – Part I The oil price crash on the back of the COVID-19 lockdowns has accelerated the coming supply crunch. Both national and international oil companies have slashed CAPEX and maintenance spending, which will push up decline rates and US shale drillers finally focus on profitability instead of growth. Current longer-dated […]
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise?
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise? After Wednesday’s JMMC meeting ended without reaching a recommendation (as is customary and expected), the key decision-making OPEC+ meeting – where ministers will hammer out May’s output quotas – begins at 1pm London Time. As Newsquawk notes, market expectations are skewed towards an extension of current cuts, […]
The Iran-China Axis Is A Fast Growing Force In Oil Markets
The Iran-China Axis Is A Fast Growing Force In Oil Markets One of the things that doesn’t get a lot of discussion in the press is the under-the-table relationship Iran and China have had when it comes to oil. At first glance, they wouldn’t seem to have a lot in common. One is a theocracy […]
Shale Giants Proving OPEC Right
Shale Giants Proving OPEC Right Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one – for now, at least. (Bloomberg) — Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one — for now, at least. A round-up […]
Happy Days At The Gas Pump Are Over As Prices Soar
Happy Days At The Gas Pump Are Over As Prices Soar When the virus pandemic first hit early last year, Americans were locked down in their homes as gasoline demand plunged and prices crashed. Last April, the nationwide average for gasoline was around $2. According to AAA, prices are surging nationwide, up 32 cents in the previous […]
Is The World About To See An Oil Shortage?
Is The World About To See An Oil Shortage? It’s possible we could be headed for a shortfall in global oil supply as soon as next year – pretty remarkable considering where oil demand was last spring, with economies slowing under the weight of the pandemic. Based on projected rising demand, the natural production decline […]
Oil Flirts With $70 After The OPEC+ Surprise
Oil Flirts With $70 After The OPEC+ Surprise Brent is now flirting with the $70 mark after OPEC+ shocked markets once again by refusing to bring more oil production online. In this week’s Global Energy Alert, our trading team delves into how an inflationary environment will impact oil stocks. Sign up today to get breaking news, expert […]
Heal the Planet for Profit – Redux
Heal the Planet for Profit – Redux Giorgione The Tempest 1508“Mankind’s only chance to not destroy its planet lies in diverging from all other species in that not all energy available to it, is used up as fast as possible. But that’s a big challenge. It would, speaking from a purely philosophical angle, truly separate us from […]
Oil Major Total Sees 10 Million Bpd Supply Gap In 2025
Oil Major Total Sees 10 Million Bpd Supply Gap In 2025 France’s supermajor Total is warning that the world could find itself with a shortfall of supply of 10 million barrels per day (bpd) between now and 2025, due to continued underinvestment in the industry, the OPEC+ pact, and cracks in the U.S. shale business […]
Cash-Strapped Iraq Drastically Devalues Dinar As Fears Of Nationwide Unrest Grow
Cash-Strapped Iraq Drastically Devalues Dinar As Fears Of Nationwide Unrest Grow According to the latest IMF forecasts, Iraq’s GDP will contract 12% this year, more than that of any other OPEC member under a production quota. A global pandemic-induced demand slump (among other domestic issues) has pushed Iraq – under its OPEC membership – to slash oil production […]
One Little Problem with the “All-Electric” Auto Fleet: What Do We Do with all the “Waste” Gasoline?
One Little Problem with the “All-Electric” Auto Fleet: What Do We Do with all the “Waste” Gasoline? Regardless of what happens with vaccines and Covid-19, debt and energy–inextricably bound as debt funds consumption– will destabilize the global economy in a self-reinforcing feedback. Back in the early days of the oil industry (1880s and 1890s), the […]
