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Tag Archives: oil glut
Australia’s oil stock coverage on record low
Australia’s oil stock coverage on record low In prime time evening news of the Australian public broadcaster ABC TV, on 21 June 2017, the business presenter Alan Kohler tried to explain a fall in oil prices by “record oil inventories around the world” http://www.abc.net.au/news/business/kohler-report/ Well, let’s go around the world on a map and stay […]
Biggest Gasoline Glut In 27 Years Could Crash Oil Markets
Biggest Gasoline Glut In 27 Years Could Crash Oil Markets Oil prices are stuck in a holding pattern, waiting for more definitive data on what comes next. OPEC compliance is helping keep prices afloat, but rising U.S. oil production is acting as a counterweight. A new problem that has suddenly emerged is the record levels […]
Glut Fears Spike As Europe Runs Out Of On-Land Oil Storage
Glut Fears Spike As Europe Runs Out Of On-Land Oil Storage Oil has been called names (“dirty fossil fuel!”). The cartels use it as a weapon to thwart their rivals. ISIS steals it and pimps it out on some sketchy black market. Swaths of it are set on fire and used as a shield. The […]
Oil Down As Glut Fears Return
Oil Down As Glut Fears Return Oil prices fell on Friday as the IEA downgraded its projections for oil demand, dashing hopes that oil markets would rebalance this year. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) …click on the above link to read the rest of the […]
Why China Is Really Dictating the Oil Supply Glut
Why China Is Really Dictating the Oil Supply Glut Ship tracking data from Bloomberg shows that 83 supertankers carrying around 166 million barrels of oil are headed to China, which has stockpiled an impressive 787,000 barrels a day in the first quarter of 2016—the highest stockpiling rate since 2014. While the world was speculating about oil prices […]
Shock Report: Oil Oversupply Exaggerated: Millions of Barrels Go Missing: “Oil Market Could Tighten Substantially”
Shock Report: Oil Oversupply Exaggerated: Millions of Barrels Go Missing: “Oil Market Could Tighten Substantially” You may remember that just two months ago the International Energy Agency warnedthe oil market could “drown in oversupply” in 2016. The outlook for oil, which had tumbled 75% since 2012 and hit a low of $28 per barrel by mid January, was […]
Jeff Rubin: Oil Sands Are ‘Hemorrhaging Red Ink,’ Doomed to Shutter
Jeff Rubin: Oil Sands Are ‘Hemorrhaging Red Ink,’ Doomed to Shutter Former CIBC chief economist outlines latest predictions at ‘Carbon Talks.’ Former CIBC world markets economist Jeff Rubin at SFU’s ‘Carbon Talks’ panel. On the right is Vancity’s mutual fund manager Dermot Foley. Photo by Mychaylo Prystupa. The oil sands are downsizing. Alberta’s Big Oil CEOs […]
Why Saudi Arabia Has No Intention To End The Oil Glut
Why Saudi Arabia Has No Intention To End The Oil Glut In the geopolitical and oligopolistic global oil market, purely financial supply and demand has often been a secondary force, acting when it is allowed to act. It is the strategic behavior of the producing titans, not their talk or the slow-motion supply-demand balance, which […]
A Secret About Oil You Won’t Find Anywhere Else
A Secret About Oil You Won’t Find Anywhere Else This is going to be a far larger problem than Wall Street realizes. In early 1983 – the first week of February, to be precise – the inventory of crude oil in the U.S. reached an all-time economic high. I say “economic high” because nominal supply […]
The Most Ominous Warning That Oil Storage Is About To Overflow Has Arrived
The Most Ominous Warning That Oil Storage Is About To Overflow Has Arrived It was just last week when we said that Cushing may be about to overflow in the face of an acute crude oil supply glut. “Even the highly adaptive US storage system appears to be reaching its limits,” we wrote, before plotting Cushing capacity […]
Oil Glut Compounded By Cracks In Global Economy
Oil Glut Compounded By Cracks In Global Economy Will oil go below $20? Jeffrey Currie, the head of commodities research at Goldman Sachs, said on Bloomberg TV on Tuesday that he wouldn’t be surprised if oil dipped “into the teens.” That would upend the financial prospects for a lot of oil and gas companies. In January, Moody’s […]
Peak Oil: Just A Distraction Pt 1
Peak Oil: Just A Distraction Pt 1 Remember, peaking in production, by definition, means that you have plenty of oil left. It has nothing to do with running out.…[T]he only people who ever use the phrase ‘running out of oil’ are people who either don’t understand Peak Oil, or people trying to mislead an audience […]
No glut in Australian petroleum inventories
No glut in Australian petroleum inventories The Australian Capital’s daily newspaper Canberra Times started the New Year by reprinting an article of the Daily Telegraph referring to an abundance of oil – without checking whether this also applies to Australia, especially after a year of political football games between a Senate committee and energy bureaucrats on one […]
Where actually is that much-hyped global oil glut?
Where actually is that much-hyped global oil glut? The media is full with news that there is a global oil glut. There are now more than 3bn barrels of excess oil in the world 13/11/2015 http://www.telegraph.co.uk/finance/oilprices/11993687/There-are-now-more-than-3bn-barrels-of-excess-oil-in-the-world.html Record oil glut stands at 3bn barrels 13/11/2015 http://www.bbc.com/news/business-34808487 It was parroted by the Australian public broadcaster ABC TV, […]
Is The Oil And Gas Fire Sale About To Start?
Is The Oil And Gas Fire Sale About To Start? Much has been written about the mounting pile of debt for U.S. oil companies (not to mention the well-known Brazilian oil giant). Not that long ago, many oil and gas companies secured at least a part of their revenue by hedging contracts. Bloomberg already reported in June that many of […]
