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Russia And China Continue To Boost Oil Ties
Russia And China Continue To Boost Oil Ties Even before the OPEC/non-OPEC production cuts took effect in January 2017, Russia had already beaten Saudi Arabia to become China’s single largest oil supplier for 2016. Since then, Saudi Arabia has sacrificed still more of its market share in the prized Chinese market, while Russia has dominated […]
The Geopolitical Consequences Of U.S. Oil Exports
The Geopolitical Consequences Of U.S. Oil Exports Two crucial things happened yesterday. The first you may have noticed – oil prices moved back up. As for the second, most so-called “experts” seemed to have missed. See, the environment we’re seeing in energy markets is very different from what we saw only a week ago, when […]
Oil Back Below $50: End of Inflationary Jump?
Oil Back Below $50: End of Inflationary Jump? Crude oil is back below $50 and production is up. Hedge funds are reducing positions. Is this the end of an inflationary jump? Crude Weekly Chart Oil’s Stint Above $50 Ends Bloomberg reports Oil’s Stint Above $50 Ends. I do not know where Bloomberg got that caption from. Crude […]
Maduro Visits Putin, Proposes Global Oil Trade In Rubles, Yuan
Maduro Visits Putin, Proposes Global Oil Trade In Rubles, Yuan Three weeks after the US imposed financial sanctions on Venezuela in an effort to cripple its economy and choke the Maduro regime, which in turn prompted Caracas to announce it would no longer receive or send payments in dollars, and that those who wished to […]
Citi: An Oil Supply Squeeze Is Inevitable
Citi: An Oil Supply Squeeze Is Inevitable It’s somewhat tradition for oil analysts to produce a flurry of new forecasts after every sharp move in prices, and the latest rally in WTI and Brent is no exception. In just the last couple of days we’ve seen one analyst predict prices of $80 per barrel, while […]
Bill Blain: “Oil Could Change Everything”
Bill Blain: “Oil Could Change Everything” Blain’s Morning Porridge: A Short Distraction In The Oil Market Did I detect a distinct change in the market wind yesterday? There is a new freshening blow out the East. It feels like the world is changing: a slide in tech stocks and a wobble in sentiment, stronger oil […]
The Demise Of The Dollar As We Know It: “A Break Is Coming… On A Worldwide Basis”
The Demise Of The Dollar As We Know It: “A Break Is Coming… On A Worldwide Basis” The significance of the shift taking place on a geo-political basis to unseat the U.S. dollar as the world’s reserve currency cannot be understated. It is, by all means, a complete upending of the financial and economic systems […]
You Can Only Choose One: Cheap Oil or a Weak Dollar
You Can Only Choose One: Cheap Oil or a Weak Dollar When the price of oil rises to the point of pain, just remember the handy-dandy discount mechanism: a much stronger US dollar. Glance at this chart of the trade-weighted U.S. dollar, and note the swing highs and lows in the price of oil per […]
You’re Likely A Lot Less Prepared For Crisis Than You Realize
rangizzz/Shutterstock You’re Likely A Lot Less Prepared For Crisis Than You Realize Lessons from the recent rash of natural disasters It seems as if Mother Nature is waking up. Either she’s trying to send humans an important warning, or perhaps she’s just out to kill us all. Massive storms across the globe, earthquakes, and collapsing ecosystems […]
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 – […]
Is An Oil Price Spike Imminent?
Is An Oil Price Spike Imminent? As the U.S. market begins its recovery from the double whammy served up by hurricanes Harvey and Irma, my earlier projections of where crude oil prices are headed have come true. Just a little quicker than anticipated. As I am writing this, WTI (West Texas Intermediate, the benchmark crude rate for […]
Venezuela Begins Publishing Oil Basket Price In Yuan
Venezuela Begins Publishing Oil Basket Price In Yuan Two days after the WSJ confirmed Maduro’s earlier threat that he would stop accepting US Dollars as payment for crude oil imports, Venezuela has done just that. As a reminder, and as we reported previously, in an effort to circumvent U.S. sanctions, Venezuela told oil traders that […]
America’s Weapons: “The Dollar and the Drone”
America’s Weapons: “The Dollar and the Drone” It was said that “the guinea and the gallows” were the true instruments of British imperial power. The guinea represented the coined wealth of Great Britain. The gallows represented its… constabulary zeal in policing restless natives. This is the 21st century of course… a time of enlightenment. Today’s […]
World Out Of Whack: Electricity YAY!
World Out Of Whack: Electricity YAY! Britain to ban sale of all diesel and petrol cars and vans from 2040 So says the Guardian. Which follows on from: France to ban sales of petrol and diesel cars by 2040 This follows Norway, The Netherlands, Germany and now – the big Daddy… China plans to ban […]
De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments
De-Dollarization Spikes – Venezuela Stops Accepting Dollars For Oil Payments Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Source: The Burning Platform Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped […]
