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Tag Archives: oil demand
Energy Crisis As Early As 2016
Energy Crisis As Early As 2016. Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline […]
Oil’s wild ride in 2014 signals return to volatility – Business – CBC News
Oil’s wild ride in 2014 signals return to volatility – Business – CBC News. After five years in which oil traded in a narrow band around the $100 US a barrel mark, crude markets returned to volatility this fall. Back in late June of this year, oil was trading at $107 US a barrel. At […]
Oil rises to $60 per barrel, Libya fire supports | Reuters
Oil rises to $60 per barrel, Libya fire supports | Reuters. (Reuters) – Brent crude oil rose to $60 per barrel on Monday, supported by concerns about disruption to exports from Libya, but a global supply glut kept prices nearly 50 percent off their peak for the year. A fire at one of Libya’s main export terminals has destroyed […]
T. Boone Pickens Rages On CNBC: “I Am The Expert, Not You”, Says Oil Down Due To “Weak Demand” | Zero Hedge
T. Boone Pickens Rages On CNBC: “I Am The Expert, Not You”, Says Oil Down Due To “Weak Demand” | Zero Hedge. Narrative, we have a problem! No lesser oil-man than T. Boone Pickens made quite an appearance on CNBC this morning – stunning the cheerleaders into first defense then silence as he broke the facts […]
Saudi Arabia’s Oil Exports Drop Was Sign of Weaker Demand – Bloomberg
Saudi Arabia’s Oil Exports Drop Was Sign of Weaker Demand – Bloomberg. Saudi Arabia shipped 10 percent less oil overseas in October than it did a year earlier, signaling demand was falling even before OPEC decided a month later to hold production unchanged with prices plunging. Oil exports fell to 6.9 million barrels a day in […]
Oil Price Scenarios for 2015 and 2016 – The Automatic Earth
Oil Price Scenarios for 2015 and 2016 – The Automatic Earth. A couple of weeks ago I had a post titled The 2014 Oil Price Crash Explained that was cross posted to over 20 other blogs including The Automatic Earth and Zero Hedge. In this post I use the empirical supply and demand dynamic described in that earlier post (Figure […]
“Oil May Drop To $25 On Chinese Demand Plunge, Supply Glut, Ageing Boomers” | Zero Hedge
“Oil May Drop To $25 On Chinese Demand Plunge, Supply Glut, Ageing Boomers” | Zero Hedge. We have forecast since mid-August that Brent oil prices would fall to “$70/bbl and probably lower”, and the US$ would see a strong rise. As Chart 1 shows, Brent has now reached our target, falling 40%, whilst the US$ […]
Oil Jumps Most in Two Weeks as Fighting, Strike Curb OPEC Output – Bloomberg
Oil Jumps Most in Two Weeks as Fighting, Strike Curb OPEC Output – Bloomberg. Crude oil jumped the most in two weeks on signs output may contract from two nations accounting for about 9 percent of OPEC production. Prices remain near a five-year low, and the United Arab Emirates said the 12-nation group won’t rein […]
IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months – Bloomberg
IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months – Bloomberg. Global oil demand next year will be weaker than previously estimated and supply from non-OPEC producers will be bigger, theInternational Energy Agency said. Consumption will expand by 230,000 barrels a day less than estimated in November, the Paris-based adviser to 29 nations […]
U.S. Getting Rid of Oil Addiction as Price Plummets in Glut – Bloomberg
U.S. Getting Rid of Oil Addiction as Price Plummets in Glut – Bloomberg. The U.S. is producing the most oil in 31 years, economic growth is picking up and crude prices are plunging. So why is Americans’ use of petroleum waning? As the U.S. moves closer and closer to energy independence, greaterfuel efficiency, changing demographics […]
Brent falls close to $69 after Saudi price cut | Reuters
Brent falls close to $69 after Saudi price cut | Reuters. (Reuters) – Brent crude fell close to $69 a barrel on Friday, putting it on track for a second weekly decline, as cuts to official selling prices from Saudi Arabia reverberated across the market. Some analysts said the Saudi cuts to monthly prices for crude it sells to […]
US crude imports from Non-OPEC countries peaked 10 years before tight oil boom
US crude imports from Non-OPEC countries peaked 10 years before tight oil boom. In part 3 of this series on the impact of US tight oil, we look at US crude oil imports from Non-OPEC countries. Excluding Canada – which is a special case due to its integration into the North American oil market – […]
‘We Are Entering A New Oil Normal” | Zero Hedge
‘We Are Entering A New Oil Normal” | Zero Hedge. Investment Observations The precipitous decline in the price of oil is perhaps one of the most bearish macro developments this year. We believe we are entering a “new oil normal,” where oil prices stay lower for longer. While we highlighted the risk of a near-term decline in […]
The Price Of Oil Exposes The True State Of The Economy – The Automatic Earth
The Price Of Oil Exposes The True State Of The Economy – The Automatic Earth. We should be glad the price of oil has fallen the way it has (losing another 6% today as I write this). Not because it makes the gas in our cars a bit cheaper, that’s nothing compared to the other […]
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters. (Reuters) – OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut. Saudi Oil Minister Ali al-Naimi said […]
