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Tag Archives: oil price
Brace For Oil Surge: Saudi Oil Tank In Ras Tanura Port Hit In Houthi Drone Attack
Brace For Oil Surge: Saudi Oil Tank In Ras Tanura Port Hit In Houthi Drone Attack It’s not as if oil – the best performing class of 2021 – behind bitcoin of course – needed any more reasons to surge higher (for the latest tally please read “Saudis + Commodity Funds = Energy Stock Explosion“), […]
Oil Flirts With $70 After The OPEC+ Surprise
Oil Flirts With $70 After The OPEC+ Surprise Brent is now flirting with the $70 mark after OPEC+ shocked markets once again by refusing to bring more oil production online. In this week’s Global Energy Alert, our trading team delves into how an inflationary environment will impact oil stocks. Sign up today to get breaking news, expert […]
Bank Of America Expects Fastest Oil Price Rise In 30 Years
Bank Of America Expects Fastest Oil Price Rise In 30 Years Oil prices are set to rise by the fastest rate since the 1970s over the next three years, Bank of America said in a new report, joining the growing group of analysts forecasting a return of oil to three-digit territory. The average price of […]
Finding A Way Around The World’s Largest Oil Chokepoint
Finding A Way Around The World’s Largest Oil Chokepoint Oil is sometimes referred to as ‘black gold’. The discovery and export of fossil fuels have led to tremendous wealth creation for certain countries. In this sense, no region in the world is more blessed than the Middle East. Especially the countries surrounding the Persian Gulf […]
What Oil’s Troubles Mean to the Rest of Us
What Oil’s Troubles Mean to the Rest of Us To the extent that stock prices reflect expectations of future value, investors don’t like the prospects for oil, and oil’s demise signals muted prospects for economic growth. Exxon-Mobil (XOM) was removed from the Dow Jones Industrial Average this past August, ending a run that began when […]
Low prices batter oil industry (and later the rest of us)
Low prices batter oil industry (and later the rest of us) It is a sign of the times that the largest oil company in the world, Saudi Aramco, the state oil company of the Kingdom of Saudi Arabia, must borrow money to pay its shareholder dividend. I have written about the twice-delayed and often troubled initial public […]
Middle East Oil Producers Are Drowning In Debt
Middle East Oil Producers Are Drowning In Debt Arab Gulf oil producers are losing billions of U.S. dollars from oil revenues this year due to the pandemic that crippled oil demand and oil prices. Because of predominantly oil-dependent government incomes, budget deficits across the region are soaring. Middle East’s oil exporters rushed to raise taxes and […]
Oil Price Crash Costs Saudi Arabia $27.5 Billion In Revenue In 2020
Oil Price Crash Costs Saudi Arabia $27.5 Billion In Revenue In 2020 The oil price collapse is depriving Saudi Arabia of US$27.5 billion in oil revenues this year, Saudi Crown Prince Mohammed bin Salman said on Friday, admitting that the current oil income is not enough to cover the Kingdom’s salaries bill. Saudi Arabia had […]
The Debt Crisis Is Mounting For Oil Economies
The Debt Crisis Is Mounting For Oil Economies Dubai. Abu Dhabi. Bahrain. And, of course, Saudi Arabia. The two emirates this year issued debt for the first time in years. So did Bahrain. Saudi Arabia stepped up its debt issuance. The moves are typical for the oil-dependent Gulf economies. When the going is good, the […]
“It’s Happening Again” – Traders Store Oil At Sea As Recovery Falters
“It’s Happening Again” – Traders Store Oil At Sea As Recovery Falters Crude prices slid Thursday as the stalled global economic recovery from the virus pandemic triggers a “second wave” of demand fears and sparks renewed interest in floating storage as the oil market flips bearish. Reuters said a “fresh build-up of global oil supplies, pushing traders including Trafigura […]
Private Equity Is Bargain Hunting In Canada’s Oil Patch
Private Equity Is Bargain Hunting In Canada’s Oil Patch After two months of an encouraging—if not half-hearted–rebound, oil prices have gone into reverse gear once again. Futures tied to WTI crude were down a whopping 8% on Monday morning to trade at $36.35/barrel, a level they last touched two months ago as the markets come […]
Today’s Energy Predicament – A Look at Some Charts
Today’s Energy Predicament – A Look at Some Charts Today’s energy predicament is a strange situation that most modelers have never really considered. Let me explain some of the issues I see, using some charts. [1] It is probably not possible to reduce current energy consumption by 80% or more without dramatically reducing population. A glance […]
Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars
Saudi Arabia Refuses To Learn From Its Two Failed Oil Price Wars Having failed to achieve the slightest semblance of success in the two oil price wars that it started – the first running from 2014 to 2016, and the second running from the beginning of March to effectively the end of April this year […]
Why Fracking Activity Hasn’t Increased As Oil Prices Recovered
Why Fracking Activity Hasn’t Increased As Oil Prices Recovered It’s been a long dry spell in the Permian. Shale drilling and completions activity has collapsed to levels not seen since before 2000 (as far back as records are kept). That was the year shale activity first began to pick up from essentially nil and hit […]
