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Tag Archives: oil supply
The 2014 Oil Price Crash Explained | Energy Matters
The 2014 Oil Price Crash Explained | Energy Matters. In February 2009 Phil Hart published on The Oil Drum a simple supply demand model that explained then the action in the oil price. In this post I update Phil’s model to July 2014 using monthly oil supply (crude+condensate) and price data from the Energy Information Agency (EIA). This model explains how a drop […]
Oil Rebounds On Reports OPEC Will Cut Supply, Seek Stricter Compliance | Zero Hedge
Oil Rebounds On Reports OPEC Will Cut Supply, Seek Stricter Compliance | Zero Hedge. Less than two hours after Venezuela noted that no supply cut had been pre-agreed, The Wall Street Journal reports… *OPEC MEMBERS SAID TO MOVE TOWARD CUTTING OIL SUPPLY: WSJ And oil prices are jumping. However, a big below the surface shows […]
Challenging (Crude) Convention | Daniel Davis
Challenging (Crude) Convention | Daniel Davis. Media reports regarding the American crude oil industry have been uniformly positive in the past few months. Oil prices have dropped to their lowest level since 2010 and along with it prices at the pump. According to some reports, the US now produces as much or more oil than either Saudi Arabia or Russia. As […]
Brent Plunge To $60 If OPEC Fails To Cut, Junk Bond Rout, Default Cycle, “Profit Recession” To Follow | Zero Hedge
Brent Plunge To $60 If OPEC Fails To Cut, Junk Bond Rout, Default Cycle, “Profit Recession” To Follow | Zero Hedge. While OPEC has been mostly irrelevant in the past 5 years as a result of Saudi Arabia’s recurring cartel-busting moves, which have seen the oil exporter frequently align with the US instead of with […]
Oil at $75 Means Patches of Texas Shale Turn Unprofitable – Bloomberg
Oil at $75 Means Patches of Texas Shale Turn Unprofitable – Bloomberg. With crude at $75 a barrel, the price Goldman Sachs Group Inc. says will be the average in the first three months of next year, 19 U.S. shale regions are no longer profitable, according to data compiled by Bloomberg New Energy Finance. Those areas, which […]
OPEC MOMR October Production Data – Peak Oil BarrelPeak Oil Barrel
OPEC MOMR October Production Data – Peak Oil BarrelPeak Oil Barrel. OPEC just published their November Monthly Oil Market Report which contains crude only production data for all OPEC nations. The only big surprise was that everyone had declining production except Libya and Algeria, that is according to “secondary sources”. I find it interesting that Venezuela has, […]
IEA Says Oil Supplies May Not Keep Up With Demand
IEA Says Oil Supplies May Not Keep Up With Demand. Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. In its latest annual World Energy Outlook, the International Energy Agency (IEA) warned that the current period of oil […]
Watching the Watchdogs: 10 Years of the IEA World Energy Outlook « integral permaculture
Watching the Watchdogs: 10 Years of the IEA World Energy Outlook « integral permaculture. The International Energy Agency (IEA) is the energy watchdog of the industrial world. The developed nations of the world were caught off guard by the oil crisis of 1973. They then realized energy resources are so fundamental to all of civilization, […]
Bullish Oil Wagers Cut in Sign of Growing OPEC Skepticism – Bloomberg
Bullish Oil Wagers Cut in Sign of Growing OPEC Skepticism – Bloomberg. Speculators are the least bullish on U.S. crude in 20 months as they lose faith in OPEC’s willingness to ease a global supply glut. Money managers reduced net-longpositions in West Texas Intermediate by 8 percent in the week ended Nov. 4, U.S. Commodity Futures Trading Commission […]
Oil Price Slide – No Good Way Out | Our Finite World
Oil Price Slide – No Good Way Out | Our Finite World. The world is in a dangerous place now. A large share of oil sellers need the revenue from oil sales. They have to continue producing, regardless of how low oil prices go unless they are stopped by bankruptcy, revolution, or something else that gives them […]
Why The Current “Oil Glut” Could Lead To A Price Spike
Why The Current “Oil Glut” Could Lead To A Price Spike. Back in March 1999 “The Economist” magazine carried a cover photo of two men drenched in oil as they attempted to close a faulty valve that was spraying a huge stream of crude skyward. Over the photo was the headline: “Drowning in oil.” At the time […]
Resource Insights: Is there really an oil glut?
Resource Insights: Is there really an oil glut?. Back in March 1999 “The Economist” magazine carried a cover photo of two men drenched in oil as they attempted to close a faulty valve that was spraying a huge stream of crude skyward. Over the photo was the headline: “Drowning in oil.” At the time it really did […]
World Crude Oil Production and the Oil Price | FRACTIONAL FLOW
World Crude Oil Production and the Oil Price | FRACTIONAL FLOW. In April 2012 I published this post about World Crude Oil Production and the Oil Price (in Norwegian)which was an attempt to describe the developments in the sources of crude oils (including condensates), tranches of total life cycle costs (that is [CAPEX {inclusive returns} + OPEX] […]
Why Oil Prices Are About To Settle
Why Oil Prices Are About To Settle. If you are paying attention, you will be aware that oil prices have been falling dramatically since the end of June, losing over 20 percent from the highs at that time. This is bad news for investors in the energy sector and for the companies that produce the […]
WTI Crude Tumbles Under $80 Following Goldman Downgrade | Zero Hedge
WTI Crude Tumbles Under $80 Following Goldman Downgrade | Zero Hedge. While large shifts in positioning precipitated a sell-off in oil prices that far exceeded the actual weakening in fundamentals, Goldman Sachs’ confidence in a 2015 oversupplied global oil market has increased. As a result, they have brought forward their medium-term bearish oil outlook (WTI crude […]
