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Tag Archives: oil supply
The Decline of Oil: Head-Fake or New Normal?
The Decline of Oil: Head-Fake or New Normal? When production does finally collapse, that will set up the “nobody saw this coming” ramp in the price of oil. In May 2008 I proposed the Oil “Head-Fake” Scenario in which global recession pushes oil demand down as oil exporters pump their maximum production in a futile attempt […]
Why Did Oil Prices Just Jump By 27 Percent In 3 Days?
Why Did Oil Prices Just Jump By 27 Percent In 3 Days? Oil prices have posted their strongest rally in years, jumping an astounding 27 percent in the last three trading days of August. While much of the recent price movement defies reason and is enormously magnified by speculativemovements by traders to take and cover their […]
U.S. tight oil production decline
U.S. tight oil production decline U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated. Oil companies have cut back spending significantly in response to the fall in the price of oil. The number of rigs that are active in the main U.S. […]
Peak Oil Ass-Backwards (part 1): PeakOil, Meet Fractional-Reserve Banking
Peak Oil Ass-Backwards (part 1): PeakOil, Meet Fractional-Reserve Banking (image by Viktor Hertz) If the ongoing crash of oil prices over the past year – and now the stock market crashes of last week – have continuously taught me one thing, that would be that I’ve got very little clue regarding the economic implications ofpeak oil. […]
Why Saudi Arabia Won’t Cut Oil Production
Why Saudi Arabia Won’t Cut Oil Production Nine months after OPEC decided to leave its production target unchanged and pursue market share instead of trying to prop up prices, the group is facing a set of complex problems and decisions going forward. At first blush, the collapse of oil prices and the resiliency of U.S. […]
Why the $20 Oil Predictions are Wrong
Why the $20 Oil Predictions are Wrong Deja Vu As the price of West Texas Intermediate (WTI) retests the $40 per barrel (bbl) mark, some pundits are again calling for WTI to fall to $15 or $20/bbl. The same thing happened earlier in the year when crude prices tested $40. Lots of people predicted $20, […]
Saudi Arabia Faces Another “Very Scary Moment” As Economy, FX Regime Face Crude Reality
Saudi Arabia Faces Another “Very Scary Moment” As Economy, FX Regime Face Crude Reality “They are working for their market share, not for the price,” Kazakh Prime Minister Karim Massimov told Bloomberg on Saturday, during the same interview in which he predicted that sooner or later, dollar pegs in Saudi Arabia and the UAE would […]
Is The Oil Crash A Result Of Excess Supply Or Plunging Demand: The Unpleasant Answer In One Chart
Is The Oil Crash A Result Of Excess Supply Or Plunging Demand: The Unpleasant Answer In One Chart One of the most vocal discussions in the past year has been whether the collapse, subsequent rebound, and recent relapse in the price of oil is due to surging supply as Saudi Arabia pumps out month after […]
This Week In Energy: The Growing Threat From China
This Week In Energy: The Growing Threat From China Oil prices dropped to new six-year lows this week as WTI dipped below $42 per barrel. The big piece of news this week was the currency depreciation in China. It seems we are talking more and more these days about the warning signs coming from China’s […]
Oil storage tanks filled to levels not seen in 80 years
Oil storage tanks filled to levels not seen in 80 years U.S. oil inventories at levels not seen in at least 80 years North American oil prices could take a hit this fall as there are renewed concerns about a lack of storage capacity. A recent report by the U.S. Energy Information Agency suggests crude […]
Global Oil Supply More Fragile Than You Think
Global Oil Supply More Fragile Than You Think Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the rebound in April and May to $60 per barrel from the mid-$40s suggested that the severe drop was merely temporary. But the collapse of prices in July – owing […]
Oil tumbles as Iran nuclear deal looms
Oil tumbles as Iran nuclear deal looms An offshore oil platform is seen in Huntington Beach, California September 28, 2014. REUTERS/LUCY NICHOLSON Oil prices tumbled on Monday as Iran and six world powers closed in on a nuclear deal that would end sanctions on the Islamic Republic and let more Iranian oil on to world […]
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016 Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016. Source: Bloomberg The world’s biggest oil exporter pumped 10.564 million barrels a day in June, exceeding a previous record set in […]
Oil Price Plunge Raises Fears for Indebted Shale Companies
Oil Price Plunge Raises Fears for Indebted Shale Companies The latest fall in oil prices is once again putting pressure on indebted shale companies. After falling from over $100 per barrel down to $43 per barrel at its lowest point in March of this year, WTI prices rebounded with a 40 percent rise, trading for more or […]
