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Tag Archives: oil price collapse
Oil Producers Betting on Price Drop With OPEC Not Curbing Output
Oil Producers Betting on Price Drop With OPEC Not Curbing Output The oil industry was listening as OPEC talked down crude prices to a more than five-year low. Drillers, refiners and other merchants increasedbets on lower prices to the most in three years in the week ended Jan. 6, government data show. Producers idled the most […]
The Oil Price Fall: An Explanation in Two Charts
The Oil Price Fall: An Explanation in Two Charts Don’t worry. It’s not complicated. I offer a simple explanation for the recent fall in oil prices in just two charts. Oil prices move up and down in response to changes in supply and demand. If the world consumes more oil than it produces, the […]
Saudi Prince Warns “We Will Not See $100 Oil Again”, Calls Anti-Russia Conspiracy “Baloney”
Saudi Prince Warns “We Will Not See $100 Oil Again”, Calls Anti-Russia Conspiracy “Baloney” Speaking to his favorite money-honey, billionaire Saudi Prince Alwaleed bin Talal told Maria Bartiromo that the negative impact of a 50% decline in oil has been wide and deep. As USA Today reports, the prince of the Saudi royal family said that while he disagrees […]
Energy round-up: unburnable oil
Energy round-up: unburnable oil Three things you shouldn’t miss this week Chart: Unburnable carbon Source: The Guardian Chart: Price Chart for Crude Oil Brent Source: Baker Hughes …click on the above link to read the rest of the article…
This Week In Energy: Asian Energy Empire Expansion
This Week In Energy: Asian Energy Empire Expansion This week saw WTI prices break the psychological $50 threshold, compounding trader and oil company woes further. However, recent price updates from certain shale areas in the U.S. would seem to indicate many producers arereceiving far less for their oil (as low as $34 per barrel in some […]
Venezuela, Iran Leaders Join to ‘Neutralize Schemes Against OPEC and Stabilize Oil Price’
Venezuela, Iran Leaders Join to ‘Neutralize Schemes Against OPEC and Stabilize Oil Price’ TEHRAN, Iran—Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon. With Venezuelan President Nicolas Maduro by his side, Iranian President Hassan Rouhani urged OPEC members to […]
Oil Price Blowback: Is Putin Creating A New World Order? – OpEd
Oil Price Blowback: Is Putin Creating A New World Order? – OpEd “If undercharging for energy products occurs deliberately, it also effects those who introduce these limitations. Problems will arise and grow, worsening the situation not only for Russia but also for our partners.” – Russian President Vladimir Putin By Mike Whitney It’s hard to know […]
North Dakota Mineral Resources Dept Admits Half Its Shale Regions Below Breakeven
North Dakota Mineral Resources Dept Admits Half Its Shale Regions Below Breakeven While talking heads and TV personalities reassure the investing public that low oil prices are “unambiguously awesome” for everyone, it seems the cracks in this narrative are starting to show. From falling wages, surging job cuts, plunging rig counts, and crashing capex, it’s […]
How Falling Oil Prices Could Help Stop the Keystone Project
How Falling Oil Prices Could Help Stop the Keystone Project At 3 p.m. on a Friday last January, two days before the 2014 Super Bowl, the State Department released a favorable assessment of the proposed Keystone XL pipeline’s environmental impacts. Though citizens had submitted nearly two million comments during consideration of the report, the timing suggested […]
Price Discovery and Emerging Markets
Price Discovery and Emerging Markets I got to admit, Paris and Charlie have thrown me off a bit. Can’t be just me who noticed how well the French CAC 40 was doing since Charlie Hebdo got shot, can it? Up some 2%, I don’t quite recall, Wednesday, the day of the attack, and 3.59% yesterday. […]
US Rig Count Crashes At Fastest Pace Since 2009 To 14-Month Lows
US Rig Count Crashes At Fastest Pace Since 2009 To 14-Month Lows Just as T.Boone Pickens warned, US Rig Counts are plunging. Down by 61 this week alone – the biggest weekly drop in over 5 years – at 1,750, this is now the lowest since November 2013 (and very close the lowest since 2010). The 10% or […]
LNG Another Casualty Of Low Oil Prices
LNG Another Casualty Of Low Oil Prices The oil industry is facing rising debt from collapsing oil prices, but there could be another sector that becomes a casualty of the low oil price environment: liquefied natural gas (LNG). Much of the global LNG trade occurs in Asia, where buying and selling occurs according to long-term […]
UK trade deficit narrows after oil price falls
UK trade deficit narrows after oil price falls The falling price of oil helped to narrow the UK’s trade gap with the rest of the world in November to its lowest since June 2013, official figures show. The Office for National Statistics (ONS) said the UK’s deficit in goods and services was £1.4bn in November, compared with […]
Job losses, writedowns tipped for oil and gas industry
Job losses, writedowns tipped for oil and gas industry Widespread job cuts, writedowns and project delays are predicted for Australia’s oil and gas industry as it struggles to cope with falling oil prices. The price of oil has fallen by more than 50 per cent since August, to a low not seen since the global […]
