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Oil Price Rebound Looking Unlikely
Oil Price Rebound Looking Unlikely Oil prices may have firmed up a bit this spring, but we could be heading into another protracted period of weak prices. First there are the demand risks. The Chinese stock market turmoil raises serious concerns over a potential financial crisis, which, needless to say, would be negative for oil prices. The […]
World Powers Reach Landmark Nuclear Deal With Iran, Oil Slides – Full Deal Text
World Powers Reach Landmark Nuclear Deal With Iran, Oil Slides – Full Deal Text It is only fitting that almost exactly 24 hours after the Greek “pre-deal”, which may and will end up crashing and burning in very short notice, another long expected “deal”, one which has been about a decade in the making, was […]
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016 Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016. Source: Bloomberg The world’s biggest oil exporter pumped 10.564 million barrels a day in June, exceeding a previous record set in […]
Top 5 Oil Producing Countries Could See Production Peak This Year
Top 5 Oil Producing Countries Could See Production Peak This Year The EIA’s Short-Term Energy Outlook came out a few days ago. That is where they try to guess the future production and price for oil, for the USA as well as the world. As of late they seem to be getting a little timid with their […]
Indiana Jones, Beyoncé, And Saudi Oil Production
Indiana Jones, Beyoncé, And Saudi Oil Production Thirty-four years ago today, Indiana Jones was the number one movie at the box office with ‘Raiders of The Lost Ark.’ 1981 was also the year in which Beyoncé was born. These two reference points are just to highlight how long ago 1981 was (even if a swashbuckling […]
Is Saudi Arabia Leaving The U.S. Behind For Russia?
Is Saudi Arabia Leaving The U.S. Behind For Russia? The news from the recent St. Petersburg Economic Forum, which took place from June 18 to 20, inspired a torrent of speculation on the future direction of energy prices. But the real buzz at the conference was the unexpected but much publicized visit of the Saudi […]
What Would A Saudi-Russian Partnership Mean For World Energy?
What Would A Saudi-Russian Partnership Mean For World Energy? What happens when two nations, that together account for more than fourth quarter of global oil production, begin collaborating on future energy projects? Russian President Vladimir Putin met Saudi Prince Mohammad in St. Petersburg on June 18 at a meeting in which Saudi Arabia and Russia, […]
Putin and the Saudi Caravan
Putin and the Saudi Caravan No one – as usual – saw it coming. So guess who walks into a room in St. Petersburg this past Thursday; Saudi Arabia’s Deputy Crown Prince – and Defense Minister – Muhammad bin Salman, favorite son of King Salman; Foreign Minister Adel al-Jubeir (former ambassador to the US and very close to key players in the […]
Biggest Glut In Recorded Crude-Oil History Taking Shape
Biggest Glut In Recorded Crude-Oil History Taking Shape The world is on the brink of the longest-lasting oil glut in at least three decades and OPEC’s quest for market share makes it almost unavoidable, according to Bloomberg. Oil supply has exceeded demand globally for the past five quarters, already the most enduring glut since the 1997 […]
Global Cooling Alert: World Faces Longest Oil Glut In Three Decades
Global Cooling Alert: World Faces Longest Oil Glut In Three Decades The world is on the brink of the longest-lasting oil glut in at least three decades and OPEC’s quest for market share makes it almost unavoidable. Oil supply has exceeded demand globally for the past five quarters, already the most enduring glut since the […]
No, BP, the U. S. did NOT surpass Saudi Arabia in oil production
No, BP, the U. S. did NOT surpass Saudi Arabia in oil production Even the paper of record for the oil industry, Oil & Gas Journal, got it wrong. With the release of the latest BP Statistical Review of World Energy, media outlets appeared to be taking dictation rather than asking questions about which countries produced the […]
A Bit Of Perspective On Gasoline Prices
A Bit Of Perspective On Gasoline Prices To me, commodity pricing today is so distorted that it is almost startling. The media continues its post Goldman Sachs’ bearish calls to pound away on OPEC supply with little attention paid to rising demand. Admittedly, as we end the summer driving season, such demand will wane, adding […]
The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi
The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi Two topics we’ve deemed critically important to a thorough understanding of both global finance and the shifting geopolitical landscape are the death of the petrodollar and the idea of yuan hegemony. Last November, in “How The Petrodollar Quietly Died And No […]
Global Oil Shortage Before Year’s End? Surely Not…
Global Oil Shortage Before Year’s End? Surely Not… Now that OPEC has left its production quota unchanged, the world will continue to see a glut in supplies, right? Some analysts aren’t so sure. Sanford C. Bernstein predicts that by the end of the year global demand will outstrip supply by an estimated 1.5 million barrels per day. […]
OPEC is frying bigger fish than just Canada’s oilsands
OPEC is frying bigger fish than just Canada’s oilsands OPEC keeping the taps wide open, letting Saudi Arabia pick off many birds with one stone OPEC’s masterminding of the world oil market is leaving Canada to wonder where exactly our reeling energy industry fits within the scheme of the cartel’s strategic thinking. By leaving its production […]
