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Trump Asked Saudi Arabia To Boost Oil Production By 1 Million Barrels Per Day
Trump Asked Saudi Arabia To Boost Oil Production By 1 Million Barrels Per Day It all started on April 20, when having tweeted at and about virtually everything else, President Trump realized that surging oil and gasoline prices are wreaking havoc on his economic agenda and eating away at the benefits from his tax cuts, […]
OPEC And Russia Prepare For Long-Term Control Over Oil Market
OPEC And Russia Prepare For Long-Term Control Over Oil Market In a tight oil market reacting with price gains to concerns about supply shortages, the leaders of the OPEC and non-OPEC nations part of the production cut deal—Saudi Arabia and Russia—hinted last week that easing the cuts was an option that they had discussed and […]
Don’t Take Higher Oil Prices For Granted
Don’t Take Higher Oil Prices For Granted Oil prices collapsed at the start of this week, with WTI and Brent dropping 5.5 percent and 7.5 percent respectively from their three and a half year peaks. This recent price slump serves as a timely reminder for market observers and players alike that, while a heightened geopolitical […]
Oil Jumps Above $80 For The First Time Since Nov. 2014
Oil Jumps Above $80 For The First Time Since Nov. 2014 Two weeks after Saudi Arabia said it was targeting $80/bbl oil, this morning Riyadh got its wishes early when Brent hit the Saudi target, jumping as much as 1% to $80.18, following the latest drop in U.S. crude inventories and as traders continued to […]
IEA Cuts 2018 Oil Demand Forecast On Soaring Oil Prices
IEA Cuts 2018 Oil Demand Forecast On Soaring Oil Prices Yesterday, we observed that in logical consequence to sharply higher interest rates, US consumer loan demand had slumped in recent weeks, despite increasingly easy credit conditions: an outcome which for many economists is a harbinger to an upcoming recession, as households hunker down and begin […]
Tomgram: Michael Klare, The Road to Hell in the Middle East
Tomgram: Michael Klare, The Road to Hell in the Middle East It’s already long forgotten here, but the theocratic regime in Iran was really our baby. After all, in 1953, the CIA and British intelligence engineered a coup to replace a democratic government in Iran with the autocratic Shah and so gave Iranians just what […]
Never Trust A Banker About Oil Prices
Never Trust A Banker About Oil Prices In recent weeks I’ve commented on the powerful bullish forces that have combined in oil and oil stocks and your need to increase your exposure to them. So, before going on to other topics, this has to be the start of any column until further notice, despite the […]
Green Berets Are Now On The Ground Assisting The Saudi War On Yemen In “A Marked Escalation”
Green Berets Are Now On The Ground Assisting The Saudi War On Yemen In “A Marked Escalation” Once again a creeping, years’ long shadow war is expanding from indirect proxy intervention to direct engagement, complete with US “boots on the ground” where no American ground forces were previously thought to exist. And it’s not Syria, […]
Shifting energy import patterns enhance China’s clout in the Middle East
Shifting energy import patterns enhance China’s clout in the Middle East Subtle shifts in Chinese energy imports suggest that China may be able to exert influence in the Middle East in alternative and subtle ways that do not involve military or overt economic pressure. The shifts involve greater dependency of the Gulf states on oil […]
China’s Growing Oil Demand Has Created A Geopolitical Dilemma
China’s Growing Oil Demand Has Created A Geopolitical Dilemma China has become the world’s largest oil importer, and despite establishing the largely successful yuan-denominated oil futures, Beijing will have to grapple with an overlooked geopolitical and economic consequence as it seeks to quench its thirst for oil and gas. As China relies more on both […]
Pompeo Lands In Saudi, Immediately Calls For New Iran Sanctions
Pompeo Lands In Saudi, Immediately Calls For New Iran Sanctions Well that didn’t take long. Just two days after being sworn in as US Secretary of State, former CIA Director Mike Pompeo arrived in Saudi Arabia on Saturday on a hastily-arranged visit to the Middle East to reinvigorate support for new sanctions against Iran. As […]
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 […]
