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Saudis, Russians Consider Pausing Oil Production Increases In Retaliation To Biden SPR Release
Saudis, Russians Consider Pausing Oil Production Increases In Retaliation To Biden SPR Release When commenting on yesterday’s SPR release announcement by the Biden admin and several assorted hanger-on nations – which has backfired spectacularly sending the price of oil soaring now that the rumor can no longer be sold so the news has to be […]
Biden Targets Another US Pipeline For Shutdown After ‘Begging’ Saudis For More Oil
Biden Targets Another US Pipeline For Shutdown After ‘Begging’ Saudis For More Oil Despite approval ratings in the toilet, President Biden and his administration are reportedly exploring the closure of yet another pipeline in a bid to shift the US away from fossil fuels and appease environmental activists. The move – shutting down the Line 5 pipeline which links […]
Saudis Respond To Biden: Your Energy Crisis Isn’t Our Problem
Saudis Respond To Biden: Your Energy Crisis Isn’t Our Problem US gas prices at the pump (national average) are at $3.421, having soared since President Biden was elected – much like they did when President Obama was elected – to some of the highest prices in history… President Biden refuses to take any blame for […]
Leaked documents reveal the fossil fuel and meat producing countries lobbying against climate action
Leaked documents reveal the fossil fuel and meat producing countries lobbying against climate action Files show how Brazil, Argentina, Australia, Japan, Saudi Arabia and OPEC have pressed to water down a key UN scientific report. Some of the world’s biggest coal, oil, beef and animal feed-producing nations are attempting to strip a landmark UN climate […]
Aramco On Lockdown After Houthi Missile Attack
Aramco On Lockdown After Houthi Missile Attack Saudi Arabia had intercepted a ballistic missile attack on facilities owned by state oil major Aramco in the Eastern Region, Reuters has reported, citing the Saudi defense ministry. Earlier reports said Aramco facilities in Dharan had gone on lockdown because of a suspected attack. The Iran-affiliated Yemeni Houthi group claimed […]
The Real Russian Threat
The Real Russian Threat I’ve written for years about different nations’ persistent efforts to dethrone the U.S. dollar as the leading global reserve currency and the main medium of exchange. At the same time, I’ve said that such processes don’t happen overnight; instead, they happen slowly and incrementally over decades. The dollar displaced sterling as […]
How Much Oil Can Saudi Arabia Really Produce?
How Much Oil Can Saudi Arabia Really Produce? For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation from the Saudis over precisely what these numbers are. The reason for obfuscation is that Saudi Arabia’s […]
Saudi Arabia And Russia Warn Of Major Oil Supply Crunch
Saudi Arabia And Russia Warn Of Major Oil Supply Crunch The debate about emissions reduction and the path forward for oil companies moved to a whole new level since the International Energy Agency (IEA) dropped last month the bombshell report suggesting no new investment in oil and gas would be needed if the world is to reach […]
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise?
What To Expect From Today’s OPEC+ Meeting: Another Saudi Surprise? After Wednesday’s JMMC meeting ended without reaching a recommendation (as is customary and expected), the key decision-making OPEC+ meeting – where ministers will hammer out May’s output quotas – begins at 1pm London Time. As Newsquawk notes, market expectations are skewed towards an extension of current cuts, […]
Shale Giants Proving OPEC Right
Shale Giants Proving OPEC Right Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one – for now, at least. (Bloomberg) — Saudi Arabia’s bet that the golden age of U.S. shale is over appears to be a safe one — for now, at least. A round-up […]
Brace For Oil Surge: Saudi Oil Tank In Ras Tanura Port Hit In Houthi Drone Attack
Brace For Oil Surge: Saudi Oil Tank In Ras Tanura Port Hit In Houthi Drone Attack It’s not as if oil – the best performing class of 2021 – behind bitcoin of course – needed any more reasons to surge higher (for the latest tally please read “Saudis + Commodity Funds = Energy Stock Explosion“), […]
Aramco’s Carbon Emissions Could Be “Nearly Double” What The Company Discloses
Aramco’s Carbon Emissions Could Be “Nearly Double” What The Company Discloses It was no secret that leading up to Saudi Arabian Oil Co.’s IPO in 2019 that the company touted its low emissions compared to other producers. Chief Executive Officer Amin Nasser said while the company was doing its roadshows: “Not because our crude is cleaner […]
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the United States—at least for now—isn’t as reliant on oil from the Middle East like it used […]
