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Tag Archives: oil production
Gulf of Mexico Crude Oil and Gas Production – Peak Oil BarrelPeak Oil Barrel
Gulf of Mexico Crude Oil and Gas Production – Peak Oil BarrelPeak Oil Barrel. BOEM and BSEE have published in 2014 the GOM oil & gas reserves at end 2010 few months ago and at end 2011 lately. The big change is that they now report proved and probable reserves = 2P (in contrary to SEC rules for operators reporting […]
IEA Says Oil Supplies May Not Keep Up With Demand
IEA Says Oil Supplies May Not Keep Up With Demand. Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. In its latest annual World Energy Outlook, the International Energy Agency (IEA) warned that the current period of oil […]
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 […]
Oil Price Slide – No Good Way Out | Our Finite World
Oil Price Slide – No Good Way Out | Our Finite World. The world is in a dangerous place now. A large share of oil sellers need the revenue from oil sales. They have to continue producing, regardless of how low oil prices go unless they are stopped by bankruptcy, revolution, or something else that gives them […]
Why The Current “Oil Glut” Could Lead To A Price Spike
Why The Current “Oil Glut” Could Lead To A Price Spike. Back in March 1999 “The Economist” magazine carried a cover photo of two men drenched in oil as they attempted to close a faulty valve that was spraying a huge stream of crude skyward. Over the photo was the headline: “Drowning in oil.” At the time […]
Global Oil and Other Liquid Fuels Production Update
Global Oil and Other Liquid Fuels Production Update. • Global conventional crude oil + condensate production (C+C) attained a value of 73 million barrels per day (Mbpd) in May 2005. Since then conventional C+C has been bumping along a jagged plateau with the all-time high of 73.3 reached in July 2008, immediately prior to the Chinese Olympic […]
WTI Tumbles To 29-Month Lows After Saudi Price Cut | Zero Hedge
WTI Tumbles To 29-Month Lows After Saudi Price Cut | Zero Hedge. After initially jerking higher after Saudi Arabia released its new ‘lower-prices-for-the-US’ strategy, it appears the market began to realize that in fact – as we warned – Saudi Arabia may be willing to accept prices “lower for longer.” WTI futures are trading below $78.50 – the […]
Saudi Arabia: Producing More Crude, Selling Less?
Saudi Arabia: Producing More Crude, Selling Less?. Media reports are quoting an anonymous source as saying Saudi Arabia, the world’s leading oil exporter, supplied foreign and domestic customers with less crude during September even though its oil production was up slightly. The source, identified only as being familiar with the Saudi oil industry, said it extracted, on […]
Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge
Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge. Saudi Arabia, it appears, had enough of shooting itself in the foot for its American ‘partners’, and has admitted for the first time that it slashed supply in September. As Bloomberg reports, OPEC’s biggest producer cut supply to mkt by 328k b/d in […]
How will Saudi Arabia respond to lower oil prices? | Econbrowser
How will Saudi Arabia respond to lower oil prices? | Econbrowser. Oil prices (along with prices of many other commodities) have fallen dramatically since last summer. Some observers are waiting to see if Saudi Arabia responds with significant cutbacks in production. I say, don’t hold your breath. When oil demand fell in the 1981-82 recession, the […]
