Home » Posts tagged 'opec' (Page 2)
Tag Archives: opec
Running on Empty, Part IV
Running on Empty, Part IV How the War between Russia and Ukraine is Destroying the Petrodollar System Welcome to Part IV of Running on Empty, my four-part analysis of the Petrodollar system. Part I of this series explained that the US dollar is the world’s first reserve currency that is not backed by precious metals. Instead it is […]
Running on Empty, Part II
Running on Empty, Part II How the Petrodollar Poisoned Foreign Policy with Financial Profiteering Welcome to Part II of Running on Empty, my three-part analysis of the Petrodollar system. Part I of this series explained what the petrodollar system is, how it came to be, and what its financial effects have been on the United States. In Part […]
Running On Empty
Running On Empty Well, we definitely seem to have passed a threshold of sorts. For most of the sixteen years since I started blogging, one of the things I had to point out constantly to my readers was the slow pace of historical change. Whenever I posted an essay on the twilight of industrial society, […]
Russia’s Oil Output Is Plummeting, And It May Never Recover
Russia’s Oil Output Is Plummeting, And It May Never Recover Russia’s oil output is plummeting, and the decline is expected to worsen in May. OPEC recently warned that markets could see the loss of more than 7 million barrels per day of Russian oil and other liquids exports. With many global producers constrained in their […]
Could The World Really Run Out Of Oil?
Could The World Really Run Out Of Oil? Stop staring at your gains from the energy stocks for a second here. Take a seat in a nice quiet place and ask yourself this one really simple question: if oil demand continues to grow at ~1 million b/d for the next 8-10 years, where is the […]
Oil Rally Fueled By OPEC Production Shortfall
Oil Rally Fueled By OPEC Production Shortfall In December, OPEC+ added 253,000 barrels daily to its combined production falling well short of its 400,000-bpd target OPEC’s underproduction fuels speculation about the cartel’s ability to ramp up production Morgan Stanley: global spare oil production capacity will shrink from 6.5 million bpd at the moment to just […]
OPEC’s Joint Ministerial Monitoring Committee Is About To Begin: Here’s What To Expect
OPEC’s Joint Ministerial Monitoring Committee Is About To Begin: Here’s What To Expect OPEC+ is expected to continue with its plan to increase its production quota 400k BPD The Omicron variant impact is expected to be mild and short-lived, according to the JTC findings The meeting is expected to be smooth, but the issue of […]
Running Out of Spare Capacity
Running Out of Spare Capacity Global oil markets could not have looked grimmer than back in the summer of 2020. COVID cases were increasing again and further global economic lockdowns were being threatened. Only two months before, oil prices had crashed into negative territory for the first time in history as global inventories had surged […]
OPEC and Russia will pump more oil in January despite price plunge
OPEC and Russia will pump more oil in January despite price plunge Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, attends the COP26 climate summit in Glasgow in November. London (CNN Business)Saudi Arabia, Russia and other leading oil producers have decided to stick with plans to increase supply in January despite a recent plunge in […]
Pretty Please? US Trying To Persuade Russia To Lift Oil Output
Pretty Please? US Trying To Persuade Russia To Lift Oil Output Interfax is reporting Thursday that the United States is urging Russia to raise oil output in order to lower global prices, following the Biden administration’s Tuesday announcement it plans release 50 million barrels of crude from the U.S. Strategic Petroleum Reserve, amid predictions of $100 oil. “The US […]
The End Of Venezuela’s Oil Era
The End Of Venezuela’s Oil Era Venezuela, once Latin America’s largest oil producer and a founding member of OPEC, has seen its economically vital oil industry collapse triggering one of the worst economic and humanitarian crises of the century. The pain is far from over for Venezuela’s people and the country’s failing economy. Before 1920, […]
California Gas Prices Reach New Record High
Gas prices nearing $5.00 a gallon are displayed at Chevron and Shell stations in San Francisco, Calif., on July 12, 2021. (Justin Sullivan/Getty Images) California Gas Prices Reach New Record High The average price of a regular gallon of gasoline in California reached a record high on Monday as sticker shock continues to anger drivers paying more […]
White House Putting Pressure on OPEC to Increase Oil Production Amid ‘Supply Issues,’ Rising Energy Prices
An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, on July 21, 2014. (Todd Korol/Reuters) EXECUTIVE BRANCH White House Putting Pressure on OPEC to Increase Oil Production Amid ‘Supply Issues,’ Rising Energy Prices The White House on Tuesday promised to put pressure on members of the Organization of the Petroleum Exporting Countries (OPEC) […]
