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Tag Archives: oil production
Oil Tankers Are Filling Up As Global Storage Space Runs Low
Oil Tankers Are Filling Up As Global Storage Space Runs Low The rebound in oil prices is still not here, and new data suggests that it will take some more time before the markets start to balance out. Global supplies are still too large to justify a significant rally in oil prices. The latest indicator […]
Oil Market Supply Imbalance Getting Worse, Not Better
Oil Market Supply Imbalance Getting Worse, Not Better Oil futures prices (WTI) plunged 12.5 percent this week from $47.90 on Friday, November 3 to $41.96 yesterday morning, November 11. The main reason is that the global supply imbalance is getting worse. The U.S. Energy Information Administration’s (EIA) latest report indicates that the world supply surplus (production minus […]
Absolutely Right
Absolutely Right Good to see that even after months on hiatus, not much changes on the Right, right? First up: The shale revolution has opened additional centuries of low-cost hydrocarbon resources to modern society…. The anti-fossil fuel environmental movement is in despair. For decades, proponents of the ideology of sustainable development preached that humanity was […]
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 […]
What The Oil And Gas Industry Is Not Telling Investors
What The Oil And Gas Industry Is Not Telling Investors Oil prices crashed because of too much supply, but will rebound as production shrinks and demand rises. But what if long-term demand for oil ends up being sharply lower than what the oil industry believes? That is the subject of a new report from The Carbon Tracker […]
Petrodollar Reflux to Hit Treasuries, Other Assets
Petrodollar Reflux to Hit Treasuries, Other Assets Oil-producing countries dump assets to fill budget holes. Executive Report with ISA Intel, Oil & Energy Insider: The collapse in oil prices is draining oil-exporting countries of revenue. With substantially lower oil revenues, many of the world’s sovereign wealth funds are dropping in value, which has ramifications for the […]
U.S. Shale Lifelines Running Thin
U.S. Shale Lifelines Running Thin As the world heads towards the start of the winter fuel oil season, crude prices still show little sign of a sustained upward move. Instead, oil seems to be trapped in a new “normal” range of around $40 to $55 a barrel. Shale oil producers have done a remarkable job […]
What’s up with the global economy, and where do we go from here?
What’s up with the global economy, and where do we go from here? A deflationary spiral, such as is now becoming evident globally, acts as a natural poison. It now appears that the grand yearly addition to total human wealth, the global GNP, is no longer growing. If so, this means the world is headed […]
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 […]
Saudi, US Oil Inventories Hit Record High as Demand Fizzles
Saudi, US Oil Inventories Hit Record High as Demand Fizzles The amount of oil in storage globally, not including the various “strategic petroleum reserves” in the US, China, Europe, Japan, and other locations, has grown to staggering proportions this year, as oversupply drowns out tepid demand. In the US, oil storage is seasonal. A big […]
Saudi Arabia’s fiscal break-even oil price to be around $US 100 mark for the foreseeable future
Saudi Arabia’s fiscal break-even oil price to be around $US 100 mark for the foreseeable future The latest IMF Article IV consultation report on Saudi Arabia was published on 9 September 2015. http://www.imf.org/external/country/sau/ Extract: Government spending has increased substantially in recent years. Consequently, the breakeven oil price rose to $106 a barrel in 2014 from $69 […]
Oil and the Global Economy
Oil and the Global Economy How important is oil to the future of the global economy? The remarkable economic expansion of in the United States and other industrial nations over the past century or more has been fueled by a steadily growing supply of low-cost energy—mostly from fossil fuels—oil in particular which accounts for more global energy […]
Too Many Wildcards For Oil Markets To Settle Yet
Too Many Wildcards For Oil Markets To Settle Yet Could the price of oil be a value such that the current quantity produced exceeds the current quantity consumed? The answer is yes, and indeed that has been the case for much of the past year. Suppose, for illustration, that even at a price of $40, […]
