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Tag Archives: crude oil
Oil Prices Collapse To New Cycle Lows, Canada Heavy Tumbles Under $50 | Zero Hedge
Oil Prices Collapse To New Cycle Lows, Canada Heavy Tumbles Under $50 | Zero Hedge. The crude carnage continued overnight with oil prices across the entire complex crashing through support to new cycle lows. Despite recent strategic reservce demand in China, the world’s oil glut continues as global growth expectations plunge leaving WTI trading as low […]
There Are 300,000 Iraqi Barrels Signaling Oil Glut Will Deepen – Bloomberg
There Are 300,000 Iraqi Barrels Signaling Oil Glut Will Deepen – Bloomberg. Not only is OPEC refraining from cutting oil output to stem the five-month plunge in prices, it’s adding to the supply glut. Just five days after the Organization of Petroleum Exporting Countries decided to maintain production levels, Iraq, the group’s second-biggest member, inked […]
Brent Rebounds From $70 as Oil Rout Stutters After OPEC Inaction – Bloomberg
Brent Rebounds From $70 as Oil Rout Stutters After OPEC Inaction – Bloomberg. Brent crude rebounded from near $70 a barrel as the market rout prompted by OPEC’s failure to curb production falters. West Texas Intermediate rose for the second day in three. Futures advanced as much as 1.3 percent in London and 1.6 percent in New […]
Challenging (Crude) Convention | Daniel Davis
Challenging (Crude) Convention | Daniel Davis. Media reports regarding the American crude oil industry have been uniformly positive in the past few months. Oil prices have dropped to their lowest level since 2010 and along with it prices at the pump. According to some reports, the US now produces as much or more oil than either Saudi Arabia or Russia. As […]
Brent Plunge To $60 If OPEC Fails To Cut, Junk Bond Rout, Default Cycle, “Profit Recession” To Follow | Zero Hedge
Brent Plunge To $60 If OPEC Fails To Cut, Junk Bond Rout, Default Cycle, “Profit Recession” To Follow | Zero Hedge. While OPEC has been mostly irrelevant in the past 5 years as a result of Saudi Arabia’s recurring cartel-busting moves, which have seen the oil exporter frequently align with the US instead of with […]
Gulf of Mexico Crude Oil and Gas Production – Peak Oil BarrelPeak Oil Barrel
Gulf of Mexico Crude Oil and Gas Production – Peak Oil BarrelPeak Oil Barrel. BOEM and BSEE have published in 2014 the GOM oil & gas reserves at end 2010 few months ago and at end 2011 lately. The big change is that they now report proved and probable reserves = 2P (in contrary to SEC rules for operators reporting […]
US oil dependency on Middle East has hardly changed since 2007
US oil dependency on Middle East has hardly changed since 2007. This is part 2 of a series of articles on how US tight oil has impacted on oil markets The following graph shows US petroleum imports from OPEC countries starting in 1960. This includes both crude oil and petroleum products. Fig 1: US crude […]
Japan Expands, Extends Oil Storage Lease Contract With Abu Dhabi – Bloomberg
Japan Expands, Extends Oil Storage Lease Contract With Abu Dhabi – Bloomberg. Japan expanded and extended for three years a lease that allows Abu Dhabi to store crude oil in the Asian country. Abu Dhabi’s leased capacity at the Kiire terminal in Kagoshima prefecture, in southwestern Japan, will rise to 1 million kiloliters (6.3 million barrels), […]
Plunging oil prices a game-changer for major pipeline projects | Jeff Rubin
Plunging oil prices a game-changer for major pipeline projects | Jeff Rubin. A sharp correction in oil prices is putting the debate around major pipeline projects, such as Keystone XL, into a more nuanced light. Part of the impetus behind constructing new pipelines to carry bitumen from northern Alberta to the U.S. Gulf Coast, Kitimat […]
Peak Oil Notes – Oct 23
Peak Oil Notes – Oct 23. New York oil futures traded around $82 a barrel this week until Wednesday’s stocks report showed an unexpected 7 million barrel jump in US crude stocks. The jump resulted in a nearly $2 decline in the futures market to a close of $80.52 a barrel, the lowest settlement since June of […]
WTI Gains for Third Day as Iran Seeks Halt to Price Drop – Bloomberg
WTI Gains for Third Day as Iran Seeks Halt to Price Drop – Bloomberg. Brent crude traded for a fifth day close to a level that’s prompting speculation that OPEC will respond by cutting supply. West Texas Intermediate, which fell into a bear market this month, extended a rally. Brent, the global benchmark, rose or […]
Peak Oil Notes – Oct 16
Peak Oil Notes – Oct 16. The price plunge which began in mid-June when New York oil futures trading around $105 a barrel continued this week with oil touching $80 on Wednesday before recovering to close at $81.78. London’s Brent crude underwent a similar collapse to close yesterday at $83.46. Weak demand: increasing US shale […]
Energy round-up: sinking oil | New Economics Foundation
Energy round-up: sinking oil | New Economics Foundation. Photo credit: Kim Strømstad OCTOBER 17, 2014 // BY: STEPHEN DEVLIN Three things you shouldn’t miss this week Chart: Price chart for crude oil brent Source: Nasdaq Article: Price fall hastens decline of ‘big oil’ as Western majors retreat – This year’s fall in energy prices is hastening the decline of […]
