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Tag Archives: oil supply
Increased U.S. Output Bolsters Oil Glut Fears Sending Prices Back Down
Increased U.S. Output Bolsters Oil Glut Fears Sending Prices Back Down Oil resumed its decline after the biggest gain since June 2012 as U.S. crude production increased, adding to signs that the global supply glut that has pushed prices to a 5 1/2-year low will persist. West Texas Intermediate futures dropped as much as 2.7 […]
The Age Of Cheap Oil Is Over
The Age Of Cheap Oil Is Over The longer I look at what is going on today with oil prices the less it makes sense to me. I know there are a lot of experts who blame this all on the “glut” of oil created by overly aggressive U.S. upstream companies that took all the […]
Could The Oil Bust Last?
Could The Oil Bust Last? The oil industry has experienced boom and busts before, but the depths to which oil prices have plunged have surprised everyone. Could the bust now persist much longer than many think? It is not just oil that has seen a bust. Over the last decade and a half, the global […]
Oil Drops Below $45; U.S. Stockpiles May Speed Collapse
Oil Drops Below $45; U.S. Stockpiles May Speed Collapse Oil extended losses to trade below $45 a barrel amid speculation that U.S. crude stockpiles will increase, exacerbating a global supply glut that’s driven prices to the lowest in more than 5 1/2 years. Futures fell as much as 4.1 percent in New York, declining for a […]
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- […]
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 […]
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 […]
