Home » Posts tagged 'oil production' (Page 13)
Tag Archives: oil production
U.S. And OPEC Flood Oil Market Ahead Of Midterms
U.S. And OPEC Flood Oil Market Ahead Of Midterms OPEC and the U.S. are together adding enormous volumes of new supply, which together have softened the oil market. In October, OPEC hiked oil production to the highest level since 2016, back before the oil production cuts went into effect, according to a recent Reuters survey. […]
Venezuelans Face Gasoline Shortages
Venezuelans Face Gasoline Shortages Cars, motorcycles and buses wrapped around Caracas’ gas stations earlier this week as oil production and refining becomes increasingly erratic in the former petro giant. The fuel shortages have expanded across the country as Petroleos de Venezuela SA’s refineries run at the lowest rates seen this year amid a lack of […]
Saudi Update October 2018
Saudi Update October 2018 We do not know where the Khashoggi case will go but what is happening in Saudi Arabia is important for the world. Jodi data up to Aug 2018, released 19/10/2018 http://www.jodidb.org Fig 1: Saudi Arabia is crude exporter #1 Note that these are gross exports. The US (which is a net […]
Why Oil Prices Could Still Go Lower
Why Oil Prices Could Still Go Lower Crude markets had a panic attack in August and September that sent prices soaring. Sanity is now returning. Prices have fallen but are likely to move even lower over the next few months. The panic attack was caused largely by Trump’s August 7 announcement that sanctions would be […]
Petro-States Face Extinction
Petro-States Face Extinction Petro-states urgently need to begin diversifying their economies, shifting away from oil production, or else they face financial risks in the years ahead. That conclusion comes from the IEA’s new report, “Outlook for Producer Economies,” which warns that a changing energy system threatens the economies of oil-producing countries. The threat comes in […]
Saudi Arabia Calls The End Of Russia’s Oil Prowess
Saudi Arabia Calls The End Of Russia’s Oil Prowess Saudi Arabia has not only called the end of Russia’s prominence as a global oil behemoth, but anticipates that Russia’s oil exports “will have declined heavily if not disappeared” within the next 19 years, Mohammed bin Salman said in a recent interview with Bloomberg. When asked […]
U.S. Shale’s Glory Days Are Numbered
U.S. Shale’s Glory Days Are Numbered There are some early signs that the U.S. shale industry is starting to show its age, with depletion rates on the rise. A study from Wood Mackenzie found that some wells in the Permian Wolfcamp were suffering from decline rates at or above 15 percent after five years, much […]
US Oil Exports Are Exceeding Almost All Predictions—Thanks to Fracking
US Oil Exports Are Exceeding Almost All Predictions—Thanks to Fracking The U.S. Energy Information Administration (EIA) reported in September that crude oil exports are continuing to set records, mostly due to the fracking boom in the Permian Basin, in Texas and New Mexico. June exports hit a record 2.2 million barrels per day, while the monthly average was up […]
Hurricane Michael Shuts In 40% Of Gulf Of Mexico Oil Production
Hurricane Michael Shuts In 40% Of Gulf Of Mexico Oil Production Roughly 40 percent of the Gulf of Mexico’s oil production and 28 percent of its natural gas production was shut down as of Tuesday, as the region braced for a powerful hurricane to make landfall. At least 75 platforms were evacuated, according to Reuters, […]
US Demands For More Oil Could Backfire
US Demands For More Oil Could Backfire This week the State Department accused OPEC of hiding spare capacity exceeding 1.4 million barrels daily. It urged the cartel to use it to stop the oil price rally that has continued uncomfortably close to midterm elections. The request—or demand, depending on your interpretation—is unprecedented and it might […]
IEA Asks Majors Oil Producers To Boost Production
IEA Asks Majors Oil Producers To Boost Production Rising oil prices are hurting consumers, Fatih Birol, the Executive Director of the International Energy Agency (IEA), says, calling on major all producers to do the best they can to further boost production and ease persistent supply concerns that pushed Brent Crude to above $86 a barrel […]
Oil Slides After Russia, Saudi Arabia Agree To Boost Output: Report
Oil Slides After Russia, Saudi Arabia Agree To Boost Output: Report Rumors that Saudi Arabia might raise oil production spread across financial media last week, prompting representatives of the Kingdom to eventually step in and confirm that the Kingdom planned to ramp up production to try and compensate for the expected hole in global supply […]
