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Petrodollar Under Attack
Petrodollar Under Attack (ANTIMEDIA Op-ed) — Once upon a time, the U.S. dollar was backed by the gold standard in a framework that established what was known as the Bretton-Woods agreement, made in 1944. The dollar was fixed to gold at a price of $35 an ounce, though the dollar could earn interest, marking one notable difference from gold. We’re […]
IEA: Price Spike Coming In 2020
IEA: Price Spike Coming In 2020 The oil market has been awash in crude for more than three years, and OPEC has struggled to accelerate the rebalancing effort, but the world could be heading for a supply crunch in a few years due to the sharp fall in industry spending. The halving of oil prices […]
Algeria Officially Launches Helicopter Money Amid Sliding Oil Revenue, Budget Crisis
Algeria Officially Launches Helicopter Money Amid Sliding Oil Revenue, Budget Crisis One year ago, the imminent arrival of helicopter money among endless discussions of pervasive lowflation was all the rage within high-finance policy circles. Then, everything changed as if on a dime, and in recent months the dominant topic has been global coordinated tightening – […]
China To Dictate Energy Growth In Coming Years
China To Dictate Energy Growth In Coming Years Natural gas, renewables expected to grow significantly The EIA released this year’s International Energy Outlook today, outlining expected trends in energy through 2040. The International Energy Outlook predicts that total world energy consumption will grow by 28 percent between 2015 and 2040, primarily driven by non-OECD countries. Non-OECD Asia […]
OPEC’s No. 2 Faces Civil War Threat
OPEC’s No. 2 Faces Civil War Threat Tribal violence in the southern regions of Iraq is erupting on sectarian lines, threatening safety and security at oil facilities, officials told Kurdistan24. A majority of Iraq’s law enforcement network has congregated in the northern and western portions of the country to contain the efforts of the Islamic […]
OPEC Reports First Oil Production Drop In 4 Months As Deal Compliance Slides
OPEC Reports First Oil Production Drop In 4 Months As Deal Compliance Slides Confirming Monday leaks that OPEC production had dipped last month, the just released OPEC report for the month of September confirmed that in September, OPEC produced 32.755mmb/d (according to secondary source data), a drop of 79,100 bpd, and the first monthly decline […]
What’s Next For Oil: Interview With Former DOE Chief Of Staff
What’s Next For Oil: Interview With Former DOE Chief Of Staff In this week’s MacroVoices podcast, Erik Townsend and Joe McMonigle, former chief of staff at the US Department of Energy, discuss the state of the global energy market, and OPEC’s rapidly diminishing ability to control oil prices. McMonigle believes investors will be hearing more jawboning from […]
Forget OPEC, China Controls Oil Prices
Forget OPEC, China Controls Oil Prices U.S. shale has taken a lot of headline space recently as the biggest headwind for oil prices and the highest stumbling block for OPEC’s efforts to prop them up by cutting production. Yet, there may be another factor that could bring down oil prices as soon as next year… […]
The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks
The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil […]
Rig Count Rises To April 2015 Highs As Analysts Warn “Oil Market Rebalancing Hasn’t Even Started Yet”
Rig Count Rises To April 2015 Highs As Analysts Warn “Oil Market Rebalancing Hasn’t Even Started Yet” After falling for the first time this year two weeks ago, Baker Hughes reports US oil rig count rose once again (up 2 to 765) for the 24th week in the last 25, to the highest since April […]
OPEC Admits It Has A Problem: It Is Still Producing Too Much Oil
OPEC Admits It Has A Problem: It Is Still Producing Too Much Oil In its just released lastest market report for the month of July, OPEC admitted it has a problem: more than six months after the Vienna deal that was supposed to bring supply and demand in balance, the oil cartel confirmed it is […]
Not OPEC, China Dictates The Oil Prices
Not OPEC, China Dictates The Oil Prices The OPEC deal will lead to an ongoing tightening of the crude oil market, putting a floor beneath crude prices in the $50s per barrel in the second half of 2017, according to Helima Croft of RBC Capital Markets. She said that prices should ultimately “grind higher into […]
RBC Explains What The Hell Is Going On: “Prudent” Fed & Chinese Intervention
RBC Explains What The Hell Is Going On: “Prudent” Fed & Chinese Intervention A “prudent” Fed (and China’s “National Team”) have spurred a risk-on rally, as RBC’s head of cross-asset strategy Charlie McElligott notes the market’s ‘Pavolovian’ response to Fed’s ‘dovish hints’ contained within the Minutes – despite simultaneously staying ‘on message’ with hiking / tapering […]
Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020
Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020 As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the […]
