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Tag Archives: oil production
First Iran, Now Iraq Refuses To Commit To Oil Production Freeze
First Iran, Now Iraq Refuses To Commit To Oil Production Freeze For all the euphoria about the proposed OPEC oil production freeze deal, the reality is that nothing has been actually decided. As readers will recall, the only “decisions” agreed to between the Saudi and Russian oil ministers were to cap production at already record […]
Why Tomorrow’s “Secret” Meeting Between Russian, Saudi Oil Ministers Will Not Lead To A Cut In Production
Why Tomorrow’s “Secret” Meeting Between Russian, Saudi Oil Ministers Will Not Lead To A Cut In Production For the past two weeks recurring flashing red headlines of an agreement, or at least a meeting, between Russia and Saudi Arabia – the world’s two largest oil producers – have led to aggressive short-covering rallies in oil […]
World outside US and Canada doesn’t produce more crude oil than in 2005
World outside US and Canada doesn’t produce more crude oil than in 2005 After a delay of several months the US Energy Information Administration has published the latest international energy statistics for October 2015 This is an opportunity to update crude oil graphs http://crudeoilpeak.info/latest-graphs Fig 1: World’s incremental crude oil production How Fig 1 is created: for […]
OPEC Will Not Blink First
OPEC Will Not Blink First An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won’t cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil ministers about the possibility of production cuts achieve almost the […]
The Most Ominous Warning That Oil Storage Is About To Overflow Has Arrived
The Most Ominous Warning That Oil Storage Is About To Overflow Has Arrived It was just last week when we said that Cushing may be about to overflow in the face of an acute crude oil supply glut. “Even the highly adaptive US storage system appears to be reaching its limits,” we wrote, before plotting Cushing capacity […]
Peak Oil: Just A Distraction Pt 1
Peak Oil: Just A Distraction Pt 1 Remember, peaking in production, by definition, means that you have plenty of oil left. It has nothing to do with running out.…[T]he only people who ever use the phrase ‘running out of oil’ are people who either don’t understand Peak Oil, or people trying to mislead an audience […]
Why the Wild Descent of Oil Is Cause for Concern
Why the Wild Descent of Oil Is Cause for Concern Low prices once signalled good news for the global economy. Not this time. Global markets now behave like digital roller-coasters from China to Europe. Oil photo via Shutterstock. The signs of oil’s madcap price collapse are everywhere. Global markets now behave like digital roller-coasters from China to […]
Despite Huge Losses Oil Companies Reluctant To Shut In Production
Despite Huge Losses Oil Companies Reluctant To Shut In Production As energy investors look for reasons to be optimistic, many are keeping close tabs on supply figures. There are some signs that supply is taking a hit from disparate parts of the globe. According to Bloomberg, China might see its output dip by 3 to […]
Oil Production Vital Statistics January 2016
Oil Production Vital Statistics January 2016 Market fundamentals point to chronic over-supply of crude oil throughout 2016. The technicals point to the makings of an oil price rally. A strong price rally from current levels may extend the situation of chronic over-supply that may have a debilitating impact on the oil price and the oil industry for […]
Peak Oil: One-Sentence Problem-Solving
Peak Oil: One-Sentence Problem-Solving As is still the case—unfortunately, for all of us—there remains a sizeable number of individuals, organizations, and other associations determined at all costs [literally] to preserve the primacy of fossil fuels to power us into the future. Facts: good when they can be massaged to fit the partial-truth narrative required to […]
Do Canadians Want To Stay In The Oil Business?
Do Canadians Want To Stay In The Oil Business? The Canadian oilpatch is facing unprecedented challenges from uncontrollable forces outside our borders where oil prices and the vast majority of supply and demand are determined. There are a variety of variables. A light tight oil boom in the U.S. adding production in volumes not so […]
