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Tag Archives: oil price
The 2014 Oil Price Crash Explained | Energy Matters
The 2014 Oil Price Crash Explained | Energy Matters. In February 2009 Phil Hart published on The Oil Drum a simple supply demand model that explained then the action in the oil price. In this post I update Phil’s model to July 2014 using monthly oil supply (crude+condensate) and price data from the Energy Information Agency (EIA). This model explains how a drop […]
What Low Oil Prices Mean For The U.S. Economy
What Low Oil Prices Mean For The U.S. Economy. For the last 4 years, the national average retail price of gasoline in the United States stayed within a range of $3.25-$4.00 a gallon. But that all changed this fall, with U.S. consumers now paying an average price of $2.82. This usually is the time of year […]
Oil Rebounds On Reports OPEC Will Cut Supply, Seek Stricter Compliance | Zero Hedge
Oil Rebounds On Reports OPEC Will Cut Supply, Seek Stricter Compliance | Zero Hedge. Less than two hours after Venezuela noted that no supply cut had been pre-agreed, The Wall Street Journal reports… *OPEC MEMBERS SAID TO MOVE TOWARD CUTTING OIL SUPPLY: WSJ And oil prices are jumping. However, a big below the surface shows […]
Russia Might Be Forced To Cut Oil Production
Russia Might Be Forced To Cut Oil Production. Russian Energy Minister Alexander Novak says Moscow is considering a possible cutback in oil production to help end the drop in prices, but there appears to be little it can do without harming its own energy sector. “The issue [of production cuts] requires careful consideration,” Novak told reporters in […]
Brent Plunge To $60 If OPEC Fails To Cut, Junk Bond Rout, Default Cycle, “Profit Recession” To Follow | Zero Hedge
Brent Plunge To $60 If OPEC Fails To Cut, Junk Bond Rout, Default Cycle, “Profit Recession” To Follow | Zero Hedge. While OPEC has been mostly irrelevant in the past 5 years as a result of Saudi Arabia’s recurring cartel-busting moves, which have seen the oil exporter frequently align with the US instead of with […]
OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico – Bloomberg
OPEC’s Easy Days Setting Oil Production Are Over, Veteran Says; You Need Russia, Norway, Mexico – Bloomberg. The days when OPEC members could all but guarantee consensus when deciding production levels for oil are long gone, according to a veteran of almost two decades of the group’s meetings. The global glut of crude, which has […]
Who’s Ready For $30 Oil? – The Automatic Earth
Who’s Ready For $30 Oil? – The Automatic Earth. How low can and will oil prices go, and what will the effects of those prices be? I bet you’ll have a hard time finding even just two people who have the same opinion on that. Not that it’s merely a matter of opinion, mind you, […]
The US Shale Breakeven Price Debate
The US Shale Breakeven Price Debate. My favorite quote by H.L. Mencken is ‘a cynic is a man who, when he smells flowers, looks around for a coffin‘. A bit morose, I know, but this appeals to the contrarian in me. My second favorite is überly-applicable to US shale oil break-evens: ‘For every complex problem […]
Soaring Dollar, Plunging Oil, Crummy Global Growth | Wolf Street
Soaring Dollar, Plunging Oil, Crummy Global Growth | Wolf Street. This chart juxtaposes the price of Brent crude oil and the US Dollar Index (the outdated currency basket composed of the euro, yen, UK pound, Canadian dollar, Swiss franc, and Swedish krona). As the dollar has soared, the price of Brent crude in dollars has […]
Russia Can Survive An Oil Price War
Russia Can Survive An Oil Price War. After a frosty reception at the G20 summit in Australia this week, Russian President Vladimir Putin required some much needed rest, at least according to the official explanation given for his conspicuously early departure from the proceedings. All things considered it could have been a lot worse. Russia […]
Oil at $75 Means Patches of Texas Shale Turn Unprofitable – Bloomberg
Oil at $75 Means Patches of Texas Shale Turn Unprofitable – Bloomberg. With crude at $75 a barrel, the price Goldman Sachs Group Inc. says will be the average in the first three months of next year, 19 U.S. shale regions are no longer profitable, according to data compiled by Bloomberg New Energy Finance. Those areas, which […]
And The Biggest Winner From The Oil Price Plunge Is… | Zero Hedge
And The Biggest Winner From The Oil Price Plunge Is… | Zero Hedge. “The Chinese, among others, seem to be responding to the lower oil price with additional demand,” notes one tanker executive as Bloomberg reports the number of supertankers sailing toward China’s ports matched a record on Oct. 17 and is still close to that level now. […]
How Low Can the Price of Oil Plunge? | Wolf Street
How Low Can the Price of Oil Plunge? | Wolf Street. It is possible that a miracle intervenes and that the price of oil bounces off and zooms skyward. We’ve seen stocks perform these sorts of miracles on a routine basis, but when it comes to oil, miracles have become rare. As I’m writing this, […]
Brent Crude Tests $80/barrel Price Level on Saudi Comments – WSJ.com
Brent Crude Tests $80/barrel Price Level on Saudi Comments – WSJ.com. Brent crude recouped early losses to trade around the $80 a barrel mark in Asian trade Thursday, after dropping below the key psychological price level earlier in the session. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded […]
Oil Plunges As Saudis Dismiss Price War “No Basis In Reality” | Zero Hedge
Oil Plunges As Saudis Dismiss Price War “No Basis In Reality” | Zero Hedge. WTI Crude oil prices tumbled to a $75 handle this morning as Saudi oil minister al-Naimi dismissed claims of a price-war as having “no basis in reality” noting that “Saudi oil policy has remained constant for the past few decades and it has […]
