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Tag Archives: oil production
Saudi Oil Minister Puts On Brave Face Amid Severe Headwinds: “Eventually, Economic Producers Will Prevail”
Saudi Oil Minister Puts On Brave Face Amid Severe Headwinds: “Eventually, Economic Producers Will Prevail” As the EM world looks on helplessly while Saudi Arabia’s war with the US shale complex (and, by extension, with the Fed) serves to keep crude prices depressed putting enormous pressure on commodity currencies and accelerating emerging market outflows, the […]
US shale oil too expensive, peaks 1H 2015
US shale oil too expensive, peaks 1H 2015 According to EIA data, monthly US crude oil production peaked in April 2015 at 9.6 mb/d. Fig 1: US crude oil production to June 2015 http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbblpd_m.htm The above graph shows that US crude production increased by around 4 mb/d between mid 2011 and mid 2015, mostly from […]
Will declines in U.S. and Canadian oil production lead to a global decline?
Will declines in U.S. and Canadian oil production lead to a global decline? At the beginning of this year I noted that all of the growth in world oil production* since 2005 has come from two countries: the United States and Canada. And, I suggested that since the growth in production in those two countries came […]
Oil Majors Sacrifice Production To Protect Dividends
Oil Majors Sacrifice Production To Protect Dividends The French oil company Total released a downward revision to its production forecast, lowering its target from 2.8 million barrels per day (mb/d) in 2017, to 2.6 mb/d, a sign that low oil prices continue to cut into long-term oil production for even the largest companies. Total’s CEO said part […]
Kurt Cobb: Money Cannot Manufacture Resources
Kurt Cobb: Money Cannot Manufacture Resources Disproving the fatal assumption central planners make Author Kurt Cobb writes frequently on energy and the environment and warns that our current economic policy suffers from a fatal degree of magical thinking: sufficient new resources will emerge if the price is high enough. As any fourth grader will tell you, […]
Peak Oil Has More To Do With Oil Prices Than You May Think
Peak Oil Has More To Do With Oil Prices Than You May Think The Origins of Peak Oil Awareness The scientific study of peak oil began in the 1950′s, when Shell geophysicist M. King Hubbert reported on the evolution of production rates in oil and gas fields. In a 1956 paper Hubbert suggested that oil […]
Whatever Happened to Peak Oil?
Whatever Happened to Peak Oil? Whatever happened to “peak oil” – the assertion that the rate at which oil is extracted from the Earth is nearing a maximum or peak level? With falling oil and gasoline prices and a boom of new oil development in the United States and elsewhere, concern about global oil supplies […]
Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports
Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports Peak Oil is very much alive Despite the attention-grabbing economic volatility that is grabbing headlines, it’s important to keep our eye on the energy story firmly in focus. This is especially true as the headlines we regularly read about Peak Oil being dead […]
Peak Oil Ass-Backwards (part 2): Crashing OilPrices Aren’t Due to an Oil Glut But to DemandDestruction and Peaking Credit
Peak Oil Ass-Backwards (part 2): Crashing Oil Prices Aren’t Due to an Oil Glut But to Demand Destruction and Peaking Credit As I began to mention at the end of the first part of this three-parter, I’ve only just recently come to the conclusion that oil prices aren’t going to have a tendency to rise due to […]
Goldman Sachs downgrades oil forecast, says $20 per barrel is possible
Goldman Sachs downgrades oil forecast, says $20 per barrel is possible Investment bank predicts average price of $45 a barrel next year, but lower isn’t implausible Goldman Sachs has bad news for anyone banking on the oil price rebounding any time soon, saying in a report that the price of crude could fall to $20 […]
Why Saudi Arabia’s Pursuit Of Market Share Is Self-Defeating
Why Saudi Arabia’s Pursuit Of Market Share Is Self-Defeating The Saudis are on track to sacrifice ~$100 billion in crude export revenues in 2015, or 45 percent of 2014’s ~$219 billion in crude export revenues, in pursuit of market share, the measure of success Saudi Oil Minister Ali bin Ibrahim Al-Naimi announced at the November […]
Oil Production Boom Is Not What It Seems As Future Investments Are Uncertain
Oil Production Boom Is Not What It Seems As Future Investments Are Uncertain Amid a holiday-dappled week, we barrel in to Wednesday without the presence of the weekly oil inventory report; we will have to wait until tomorrow at 11am (EDT) for that. We do, however, get the API report after market close, although the […]
The Decline of Oil: Head-Fake or New Normal?
The Decline of Oil: Head-Fake or New Normal? When production does finally collapse, that will set up the “nobody saw this coming” ramp in the price of oil. In May 2008 I proposed the Oil “Head-Fake” Scenario in which global recession pushes oil demand down as oil exporters pump their maximum production in a futile attempt […]
