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Tag Archives: oil demand
The Oil Price Fall: An Explanation in Two Charts
The Oil Price Fall: An Explanation in Two Charts Don’t worry. It’s not complicated. I offer a simple explanation for the recent fall in oil prices in just two charts. Oil prices move up and down in response to changes in supply and demand. If the world consumes more oil than it produces, the […]
What Will 2015 do for Peak Oil?
What Will 2015 do for Peak Oil? The Cornucopians are exuberant, they believe that collapsing of oil prices dealt the death knell for peak oil. An oil glut, they say, is what we have, not peak oil. But an oil glut is exactly what we would expect at the very peak. After all, that is […]
US Rig Count Crashes At Fastest Pace Since 2009 To 14-Month Lows
US Rig Count Crashes At Fastest Pace Since 2009 To 14-Month Lows Just as T.Boone Pickens warned, US Rig Counts are plunging. Down by 61 this week alone – the biggest weekly drop in over 5 years – at 1,750, this is now the lowest since November 2013 (and very close the lowest since 2010). The 10% or […]
Oil heads for seventh weekly loss as supply glut drags
Oil heads for seventh weekly loss as supply glut drags (Reuters) – Oil prices headed for a seventh straight weekly loss on Friday, with key producers showing no sign of cutting output in the face of a global supply glut. Global oil benchmarks hit their lowest since 2009 this week and are down more than […]
Oil Production Vital Statistics January 2015
Oil Production Vital Statistics January 2015 Another ‘guest post’ by Euan Mearns at Energy Matters. I thought that, given developments in oil prices, we can do with some good solid numbers on production. Euan Mearns: This is the first in a monthly series of posts chronicling the action in the global oil market in 12 key charts. […]
Saudi War On Shale Goes Nuclear – “No Chance OPEC Will Cut Output” Even With Brent Under $50
Saudi War On Shale Goes Nuclear – “No Chance OPEC Will Cut Output” Even With Brent Under $50 For those hoping that the recent brief dip in Brent crude below $50 – most notably Venezuela’s intrepid socialist leader Nicolas Maduro whose numbered days get shorter with every day Brent closes red, and countless bondholders of junk- […]
Euro plummets as global oil prices collapse
Euro plummets as global oil prices collapse The euro has plunged to a nine-year low against the dollar on worries that a victory in Greece by the far-left Syriza party in the January 25 election will result in the country’s departure from the European Union. The EU currency’s value, which dived on Monday to $1.1864, a […]
The Real Cause Of Low Oil Prices: Interview With Arthur Berman
The Real Cause Of Low Oil Prices: Interview With Arthur Berman With all the conspiracy theories surrounding OPEC’s November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom has seen huge hype but the numbers speak for themselves and such overflowing optimism may have been unwarranted. […]
Top Five Factors Affecting Oil Prices In 2015
Top Five Factors Affecting Oil Prices In 2015 As we ring in the New Year, let’s take stock of where we are at with the oil markets. 2014 proved to be a momentous one for the oil markets, having seen prices cut in half in just six months. The big question is what oil prices […]
Oil Extends Decline From 5 1/2-Year Low as Supply Glut Lingers – Bloomberg
Oil Extends Decline From 5 1/2-Year Low as Supply Glut Lingers – Bloomberg. Oil fell for a third day, extending its decline from the lowest level in five and a half years amid signs a global supply glut that’s driven crude into a bear market may continue this year. Futures in London dropped as much as 1.3 percent, after […]
Oil, Power and Psychopaths – The Automatic Earth
Oil, Power and Psychopaths – The Automatic Earth. Iran has a – very – long running dispute with the US about its nuclear technology. The US wants Assad (Bashar Al-Assad) out of Syria, while Iran and Russia support Assad (Russia’s sole proper base in the Middle East), who’s an Alawite (a Shi-ite branch), a people […]
Peak Oil from the Demand Side: A Prophetic New Model – Peak Oil BarrelPeak Oil Barrel
Peak Oil from the Demand Side: A Prophetic New Model – Peak Oil BarrelPeak Oil Barrel. The most attention-grabbing attempts to predict oil futures have come from geologists and environmental activists, who tend to look solely at production. An overlooked doctoral thesis by Christophe McGlade, Uncertainties in the outlook for oil and gas, in contrast, focuses on […]
Museletter 271: The Oil Price Crash of 2014 | Richard Heinberg
Museletter 271: The Oil Price Crash of 2014 | Richard Heinberg. The Oil Price Crash of 2014 Oil prices have fallen by half since late June. This is a significant development for the oil industry and for the global economy, though no one knows exactly how either the industry or the economy will respond in […]
Oil hits new post-2009 low below $56 as supply glut prevails | Reuters
Oil hits new post-2009 low below $56 as supply glut prevails | Reuters. (Reuters) – Brent crude LCOc1 reversed early gains on Friday to fall to a fresh post-2009 low below $56 a barrel, as a glut of oil that has halved prices since June outweighed investors positioning at the start of the year for a possible eventual […]
Occam’s Oil Razor: Oil Is Falling Hard Because World Demand Is Falling Hard | David Stockman’s Contra Corner
Occam’s Oil Razor: Oil Is Falling Hard Because World Demand Is Falling Hard | David Stockman’s Contra Corner. As my colleague Joe Calhoun continually reminds us, everything that happens has happened before. The ongoing “struggle” to define what is driving crude oil prices lower is perhaps another instance of a past “cycle” being reborn. With […]
