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Tag Archives: oil price
Will Higher Oil Prices Destroy Demand?
Will Higher Oil Prices Destroy Demand? Oil prices have dipped a bit this week, but still remain at their highest levels in nearly three and a half years. The reasons are by now familiar to most readers who pay attention to the daily whims of the oil market: OPEC cuts, falling inventories, geopolitical unrest and […]
Israel Closes Airspace Near Syria Border Ahead Of Netanyahu Speech With “Dramatic News About Iran”; Oil Surges
Israel Closes Airspace Near Syria Border Ahead Of Netanyahu Speech With “Dramatic News About Iran”; Oil Surges Moments ago, Israel’s Channel10 reported that Netanyahu is set to make “significant” televised announcement on Iran on Monday evening at 8pm local time (5pm GMT) in what his office said would be “dramatic news about Iran” and “significant […]
Can India Break Its Oil Addiction?
Can India Break Its Oil Addiction? India is one of the world’s largest oil consumers, accounting for around 4 percent of global consumption. Only the U.S. and China outrank India in this regard, making it a key player in the oil market. While India’s oil consumption has seen remarkable growth in the past few years, […]
Expect Much Tighter Oil Markets
Expect Much Tighter Oil Markets As oil prices hover close to multi-year highs, Saudi’s Oil Minister has hit the wires saying that OPEC ‘shouldn’t be complacent and listen to some of the noise such as mission accomplished‘ . Just as we learned earlier in this economic cycle via ‘don’t fight the Fed’, we too should […]
Goldman: Oil Demand Will Continue To Soar
Goldman: Oil Demand Will Continue To Soar Oil demand is growing, and production is falling. This is the message we have been receiving for a few weeks now with increasingly frequency, especially after OPEC’s leader Saudi Arabia admitted it would like oil prices even higher than US$70. Like a genie from a lamp, the market […]
What Is A ‘Fair’ Price For Oil?
What Is A ‘Fair’ Price For Oil? Last week, oil prices hit their highest level since late 2014 on the back of continued global and U.S. stockpile drawdowns and expectations that oil demand growth will stay strong this year. Analysts and officials are once again trying to predict what a ‘fair’ price for oil is […]
Saudi Arabia’s $100 Oil Dilemma
Saudi Arabia’s $100 Oil Dilemma Saudi Arabia is rumored to want oil prices at $100 per barrel, but if prices rise that high, it could sow the seeds of the next downturn. Saudi officials want more revenues for their budget and a higher oil price to bolster the valuation of the Aramco IPO. But that […]
Has The World Started To Kick Its Oil Addiction?
Has The World Started To Kick Its Oil Addiction? Until a decade ago, most of the world was a captive customer of oil—consumers would pay any price for gasoline and oil demand was soaring regardless of the surging oil prices. But recently, many countries around the world have started to show more sensitivity to oil […]
The Struggle Continues For Bankrupt Shale Drillers
The Struggle Continues For Bankrupt Shale Drillers Remember the wave of bankruptcies that hit shale E&Ps and oilfield services providers in the shale patch between 2015 and 2017? Over those two years, more than 120 oil and gas producers filed for bankruptcy protection in the United States, figures from Haynes & Boone showed last year. […]
Oil Prices Fall As EIA Confirms Inventory Build
Oil Prices Fall As EIA Confirms Inventory Build After a surprise 5.32-million-barrel inventory build reported by the American Petroleum Institute (API) weighed on oil prices yesterday, the Energy Information Administration (EIA) is reportinga build of 1.6 million barrels for the week ending March 23. The markets, which have not had a chance to react to […]
U.S. Rig Count Continues To Rise As Canadian Rig Count Plunges
U.S. Rig Count Continues To Rise As Canadian Rig Count Plunges Baker Hughes reported another 5-rig increase to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 995, which is an addition of 186 rigs year over year. The number of oil rigs in […]
Oil Prices Tear Higher On Middle East Tensions
Oil Prices Tear Higher On Middle East Tensions Oil prices rose on Tuesday ahead of the API data report, fueled by Middle East tensions and dwindling crude output in Venezuela. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) – U.S crude oil exports averaged 1.1 million barrels per day (mb/d) in […]
Still None, and Even More Reasons to Expect None
STILL NONE, AND EVEN MORE REASONS TO EXPECT NONE The parallels between the last few years and those at the end of the 1990’s are striking. There was a few years ago the monetary intrusion of the “rising dollar” which at its worst seriously depressed the global economy. Oil prices crashed, as did several key […]
Trump’s Trade Wars Could Spark A Massive Drop In Oil
Trump’s Trade Wars Could Spark A Massive Drop In Oil Today, I am breaking with two of my rules in writing these pieces. I generally try to steer clear of politics and to avoid being alarmist or overly sensational. What has forced me to ignore both rules is the announcement on Thursday by Donald Trump […]
