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Tag Archives: opec
2-Mile Long Stretch Of Iraqi Oil Tankers Bound For U.S. Shores
2-Mile Long Stretch Of Iraqi Oil Tankers Bound For U.S. Shores After some initial excitement, November has seen crude oil prices collapse back towards cycle lows amid demand doubts (e.g. slumping China oil imports, overflowing Chinese oil capacity, plunging China Industrial Production) and supply concerns (e.g. inventories soaring). However, an even bigger problem looms that […]
The Biggest Threat To Oil Prices: 2-Mile Long Stretch Of Iraq Oil Tankers Headed For The U.S.
The Biggest Threat To Oil Prices: 2-Mile Long Stretch Of Iraq Oil Tankers Headed For The U.S. After some initial excitement, November has seen crude oil prices collapse back towards cycle lows amid demand doubts (e.g. sllumping China oil imports, overflowing Chinese oil capacity, plunging China Industrial Production) and supply concerns (e.g. inventories soaring). However, […]
IEA Sees No Oil Price Rebound For Years
IEA Sees No Oil Price Rebound For Years Oil prices are likely to stay below $80 per barrel for another five years, according to a closely watched energy report. The International Energy Agency released its 2015 World Energy Outlook (WEO), with predictions for energy markets out to 2040. Although there are no shortage of caveats, the IEA […]
Venezuela Default Countdown Begins: After Selling Billions In Gold, Caracas Raids $467 Million In IMF Reserves
Venezuela Default Countdown Begins: After Selling Billions In Gold, Caracas Raids $467 Million In IMF Reserves In late October, when describing Venezuela’s desperate steps to keep itself afloat for a few more months, we reported that in order to fund $3.5 billion bond payments in early November, Maduro’s government had engaged in something that is the very […]
Saudis Bring Oil War To Europe With Largest Price Discount Since 2009
Saudis Bring Oil War To Europe With Largest Price Discount Since 2009 With oil exports to Europe having slipped from 13% of Saudi’s total to just 10% in the last six months, The FT reports, the de facto leader of OPEC has slashed its Official Selling Price (OSP) to Europe in an effort to regain market share. Saudi lowered […]
The US-Russia gas pipeline war in Syria could destabilise Putin
The US-Russia gas pipeline war in Syria could destabilise Putin Military solutions are not the answer to the perfect storm of climate, energy, food, economic and geopolitical crises facing Russia For the last few years, the Saudi kingdom’s insistence on pumping oil at high capacity has dramatically depressed oil prices. The result has undermined Saudi’s major oil […]
Stop Blaming OPEC For Low Prices
Stop Blaming OPEC For Low Prices We are a little more than a month away from OPEC’s next meeting, which will be held in Vienna on December 4, 2015. OPEC altered the course of the oil markets last year when it decided to cast aside its traditional role of maintaining balance through production cuts. Instead […]
Saudi Arabia Cuts Spending, Slows Payments, Hits Spain Inc.
Saudi Arabia Cuts Spending, Slows Payments, Hits Spain Inc. Ugly for Spain’s over-indebted, liquidity-challenged construction giants. It’s almost a whole year since the House of Saud shocked the world by announcing its scheme to let market forces determine oil prices. It then did the unthinkable: it cranked up oil production. What followed was arguably the […]
Oil Market Showdown: Can Russia Outlast The Saudis?
Oil Market Showdown: Can Russia Outlast The Saudis? “Two men enter, one man leaves, two men enter, one man leaves, two men enter…” Mad Max: Beyond Thunderdome November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. This decision set crude prices on a downward […]
Goldilocks and the three prices of oil
Goldilocks and the three prices of oil We all know Goldilocks from the story of Goldilocks and the Three Bears in which the young maiden wanders into the home of the bears and samples some porridge that happens to be sitting on the dinner table. The first bowl is too hot, the second is too cold and […]
Saudis Poke The Russian Bear, Start Oil War In Eastern Europe
Saudis Poke The Russian Bear, Start Oil War In Eastern Europe Any weakening of Russian support for Mr. Assad could be one of the first signs that the recent tumult in the oil market is having an impact on global statecraft. Saudi officials have said publicly that the price of oil reflects only global supply […]
Will declines in U.S. and Canadian oil production lead to a global decline?
Will declines in U.S. and Canadian oil production lead to a global decline? At the beginning of this year I noted that all of the growth in world oil production* since 2005 has come from two countries: the United States and Canada. And, I suggested that since the growth in production in those two countries came […]
