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Tag Archives: oil demand
A Bit Of Perspective On Gasoline Prices
A Bit Of Perspective On Gasoline Prices To me, commodity pricing today is so distorted that it is almost startling. The media continues its post Goldman Sachs’ bearish calls to pound away on OPEC supply with little attention paid to rising demand. Admittedly, as we end the summer driving season, such demand will wane, adding […]
Global Oil Shortage Before Year’s End? Surely Not…
Global Oil Shortage Before Year’s End? Surely Not… Now that OPEC has left its production quota unchanged, the world will continue to see a glut in supplies, right? Some analysts aren’t so sure. Sanford C. Bernstein predicts that by the end of the year global demand will outstrip supply by an estimated 1.5 million barrels per day. […]
What Does Exxon Know That We Don’t?
What Does Exxon Know That We Don’t? Forecasts from the IEA and Goldman Sachs this week are trying to say that crude barrels are still overpriced – but the market isn’t listening. I’ve been convinced that crude prices above $60 are counterproductive as Goldman said in their recent note – but other factors are continuing […]
This May Just Be The Start Of The Oil Price War Says IEA
This May Just Be The Start Of The Oil Price War Says IEA Saudi Oil Minister Ali al-Naimi may be one of the most powerful individuals in the global oil industry. After all, as the top oil official in arguably the world’s most influential oil-producing country, he has enormous influence. But for all his power, […]
Why the World’s Appetite for Oil Will Peak Soon
Why the World’s Appetite for Oil Will Peak Soon The conventional wisdom about steadily rising demand is wrong. Within two decades, global oil use will start to fall. When it comes to oil demand, the conventional wisdom is clear: Population growth and a rising global middle class guarantee that demand—and prices—will rise over the coming […]
Saudi Arabia’s Oil-Price War Is With Stupid Money
Saudi Arabia’s Oil-Price War Is With Stupid Money Saudi Arabia is not trying to crush U.S. shale plays. Its oil-price war is with the investment banks and the stupid money they directed to fund the plays. It is also with the zero-interest rate economic conditions that made this possible. Saudi Arabia intends to keep oil prices low for as […]
Is Saudi Arabia Setting The World Up For Major Oil Price Spike?
Is Saudi Arabia Setting The World Up For Major Oil Price Spike? In order to maintain a grip on market share by pushing U.S. shale producers out of the market, Saudi Arabia (and OPEC) is willing to use up its spare capacity. That could lead to a price spike. Saudi Arabia produced 10.3 million barrels per day […]
Latest EIA Predictions Should Be Taken With More Than A Pinch Of Salt
Latest EIA Predictions Should Be Taken With More Than A Pinch Of Salt The U.S. government released its landmark Annual Energy Outlook on April 14, with some rather bold predictions about the future of oil and gas. The EIA released the 2015 edition of its report at a Washington conferencehosted by the Center for Strategic and International Studies. […]
Who’s To Blame For The Oil Price Crash?
Who’s To Blame For The Oil Price Crash? When we think of the recent drop in oil prices, the question is not only who started it, but who’s responsible for keeping the prices falling. Probably no one would dispute that the price plunge began with the eager and copious production of oil from shale formations […]
This Is What Will Determine If Oil Prices Go Up Or Down
This Is What Will Determine If Oil Prices Go Up Or Down It appears as if oil prices could be on the verge of a rebound, with new data showing that the U.S. oil patch is hitting an inflection point. While specific shale regions – such as North Dakota’s Bakken and Texas’ Eagle Ford – have posted […]
Low Oil Prices Not Enough To Kill Off Oil Sands, Yet
Low Oil Prices Not Enough To Kill Off Oil Sands, Yet On Friday I visited the University of Alberta in Edmonton, where falling oil prices have brought a record provincial budget deficit despite aggressive tax increases and spending cuts. Here I pass along some of what I learned about how the plunge in oil prices is affecting […]
T. Boone Pickens Points The Finger At U.S Shale
T. Boone Pickens Points The Finger At U.S Shale So what do you do when you believe devoutly in hydraulic fracking but also understand that too much fracking is responsible for an oil glut that’s hammering the price of oil like a pile-driver? If you’re legendary Texas oil billionaire T. Boone Pickens, you call for […]
IEA sees renewed pressure on oil prices as glut worsens
IEA sees renewed pressure on oil prices as glut worsens (Reuters) – Oil prices might have stabilized only temporarily because the global oil glut is worsening and U.S. production shows no sign of slowing, the International Energy Agency said on Friday. The West’s energy watchdog said the United States may soon run out of spare […]
This Week In Energy: Data Pointing To Another Fall In Oil Prices
This Week In Energy: Data Pointing To Another Fall In Oil Prices Oil prices have stabilized somewhat around the $60 per barrel mark, and over the past few weeks oil has shown less volatility than what we have grown used to in the preceding six or seven months. But another swoon could be just over […]
How Much Crude Oil Do You Consume On A Daily Basis?
How Much Crude Oil Do You Consume On A Daily Basis? Oil. The commodity. We know what it’s worth – at least we thought we did – but what does a barrel of the black stuff get you in real life? Before we get theoretical, let’s first consider how much oil you use. If you’re in the […]
