Home » Posts tagged 'oil demand' (Page 5)
Tag Archives: oil demand
Unprecedented Demand Destruction Marks The Return Of The Super Contango
Unprecedented Demand Destruction Marks The Return Of The Super Contango These days, every corner of the oil market is “unprecedented”—from the demand destruction to the supply surge and the resulting glut. The oil futures curve is no exception and is also in a state never seen before. This is the super contango, the market situation in […]
Oil Surges On Report China Buying For Strategic Reserve, Hopes For Saudi-Russia Truce
Oil Surges On Report China Buying For Strategic Reserve, Hopes For Saudi-Russia Truce Oil surged as much as 13% this morning following a report that China is planning to start buying cheap crude for its strategic reserves, as well as speculation that President Trump said he thought Saudi Arabia and Russia would resolve their differences […]
WTI Extends Losses After Biggest Crude Build Since 2016
WTI Extends Losses After Biggest Crude Build Since 2016 After its worst quarter ever, as COVID-19 lockdowns crushed demand, raising fears about overflowing storage tanks amid a price war that has flooded the market with extra supply, all eyes are glued to today’s official inventory data (after API reported a major surprise build in crude and […]
Texas Or Canada: Where Will Oil Hit $0 First
Texas Or Canada: Where Will Oil Hit $0 First Looking at the future of oil prices, Goldman was downright apocalyptic in its short-term forecast, when in a note published this morning, the bank’s chief commodity strategist Jeffrey Currie speculated that as the current production glut “shock” cripples the crude transportation networks, “a producer would be […]
The Unthinkable Is Happening: Oil Storage Space Is About To Run Out
The Unthinkable Is Happening: Oil Storage Space Is About To Run Out In the past three weeks, oil plunged and has continued to plunge even more in the aftermath of the oil price war declared between Saudi Arabia and Russia, and where US shale (and its junk bonds) has been caught in the crossfire. However, […]
What Happens If Oil Prices Go Negative?
What Happens If Oil Prices Go Negative? Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil prices can go negative.” That is, they could as a combination of Saudi Arabia (and Russia) flooding the market with increased […]
“No Deal In Sight” – Oil Plunges After Russia Rejects Additional OPEC+ Cut
“No Deal In Sight” – Oil Plunges After Russia Rejects Additional OPEC+ Cut Brent crude futures tumbled by more than 4% on Friday after Reuters reported that Russia had rejected steep production cuts by OPEC to prop up oil prices amid the Covid-19 outbreak triggering demand shocks in China and across the world. A high-level Russian source told Reuters […]
OPEC Agrees To 1.5MM Barrel Output Cut, But Fails To Obtain Critical Russian Backing
OPEC Agrees To 1.5MM Barrel Output Cut, But Fails To Obtain Critical Russian Backing Today’s OPEC meeting has been more of a stunt by members to persuade Russia to agree to deep cuts amid a demand shock triggered by the Covid-19. Ministers from OPEC agreed on a large cut of 1.5 million barrels per day in […]
IEA Sees $90 Crude Ahead Of Oil’s Downfall
IEA Sees $90 Crude Ahead Of Oil’s Downfall Global oil demand will plateau around 2030, according to a major new report, but the decline in demand is way too slow to head off the worsening effects of climate change. Oil demand begins to flatten out in the 2030s “under pressure from rising fuel efficiency and […]
OPEC Braces For Drastic Drop In Oil Demand
OPEC Braces For Drastic Drop In Oil Demand OPEC admitted that demand for its oil over the next few years could be drastically weaker than it previously thought, due to a combination of a weakening economy, rising supply elsewhere, and pressure from climate activists. In its World Oil Outlook, OPEC said that demand for its […]
IEA: An Oil Glut Is Looming
IEA: An Oil Glut Is Looming If global oil demand growth continues to languish with uncertainties around the global economy and Brexit, the oil market will likely have to cope with another oversupply next year, according to the International Energy Agency (IEA). “Unless other things change, we will see a surplus probably, unless there is […]
Our Energy and Debt Predicament in 2019
Our Energy and Debt Predicament in 2019 Many people are concerned that we have an oil problem. Or they are concerned about recession and the need to lower interest rates. As I see the situation, we have a problem of a networked economy that is not functioning well. A big part of this problem is energy-related. […]
Yergin: Expect Extreme Volatility In Oil Markets
Yergin: Expect Extreme Volatility In Oil Markets Rising pipeline takeaway capacity in the Permian and global oil demand growth at its weakest in a decade are set to lead to more volatility in oil prices in the near term, a prominent energy expert said, joining a growing number of analysts who see prices further depressed […]
‘High’ Oil Prices Are Already Dampening Demand
‘High’ Oil Prices Are Already Dampening Demand Crude oil prices are affecting demand for the commodity negatively, the International Energy Agency’s head Fatih Birol told S&P Global Platts in an interview. “The higher oil price environment may, if they stay around this level, also have an impact…put some downward pressure under demand growth,” Birol said. The […]
Is This A Precursor For Peak Oil Demand?
Is This A Precursor For Peak Oil Demand? The $1 trillion sovereign wealth fund of Norway may sell off all of its shares in oil producers. The move is a shot across the bow for the oil industry. A $1 trillion fund, built on oil itself, now sees the future of oil as too risky. […]
