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Tag Archives: opec
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge. Who could have seen this coming? With oil prices holding at 4-year lows, heavily pressuring around half of US shale production economics, the “secret” US deal (see hereand here) with Saudi Arabia to crush Russia via oil over-supply […]
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters. (Reuters) – OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut. Saudi Oil Minister Ali al-Naimi said […]
Its Grip on Oil Weakening, OPEC Will Meet on Prices – NYTimes.com
Its Grip on Oil Weakening, OPEC Will Meet on Prices – NYTimes.com. LONDON — As oil prices continue to plummet, the once-dominant international cartel of producers is losing its sway over the global energy markets. At its meeting on Thursday in Vienna, the Organization of the Petroleum Exporting Countries, the group of 12 oil producing nations, is under pressure […]
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 […]
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 […]
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 […]
Is Saudi Arabia Waging Economic Warfare?
Is Saudi Arabia Waging Economic Warfare?. The G20 is a conference of the world’s top 20 economies as measured by Gross Domestic Product. Some observers have slammed it as an unelected and arbitrary body that is doing some of the work the United Nations was intended to do– only in a much less egalitarian way. […]
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. […]
OPEC MOMR October Production Data – Peak Oil BarrelPeak Oil Barrel
OPEC MOMR October Production Data – Peak Oil BarrelPeak Oil Barrel. OPEC just published their November Monthly Oil Market Report which contains crude only production data for all OPEC nations. The only big surprise was that everyone had declining production except Libya and Algeria, that is according to “secondary sources”. I find it interesting that Venezuela has, […]
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 below $80 as slow China chimes with OPEC warning | Reuters
Oil below $80 as slow China chimes with OPEC warning | Reuters. (Reuters) – Oil fell below $80 a barrel for the first time since 2010 on Thursday, as more evidence of a slowdown in China’s resource-hungry economy chimed with OPEC warning of a substantial drop in demand next year. Data from Beijing showed below-forecast factory output […]
The Major Threat to Some of the World’s Largest Oil Producers
The Major Threat to Some of the World’s Largest Oil Producers. Saudi Arabia is rattling the oil sector… and that’s bad news for some of the most popular oil stocks on the market. Last week, the leader of the Organization of the Petroleum Exporting Countries (OPEC) – the oil cartel that has effectively set the […]
