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The Inevitable Outcome Of The Oil Price War
The Inevitable Outcome Of The Oil Price War One might reasonably posit that when Crown Prince Mohammed bin Salman (MbS) signalled that Saudi Arabia was once again going to produce oil to the maximum to crash oil prices in a full-scale oil price war, Russian President Vladimir Putin probably fell off the horse he was […]
The Great American Shale-Oil Bust Turns into Massacre
The Great American Shale-Oil Bust Turns into Massacre Shares of shale oil drillers collapsed by 25%-50% today. Their bonds got massacred. Saudi-Russia price-war strategy appears successful in wiping out investors in the US shale-oil sector. It was so chaotic and brutal in the crude oil market today that the EIA, which is part of the […]
Saudi Arabia Starts All-Out Oil War: MbS Destroys OPEC By Flooding Market, Slashing Oil Prices
Saudi Arabia Starts All-Out Oil War: MbS Destroys OPEC By Flooding Market, Slashing Oil Prices With the commodity world still smarting from the Nov 2014 Saudi decision to (temporarily) break apart OPEC, and flood the market with oil in (failed) hopes of crushing US shale producers (who survived thanks to generous banks extending loan terms […]
Saudis Urge More Than 1 Million Bpd Oil Cut To Prop Up Prices, Russia Opposes
Saudis Urge More Than 1 Million Bpd Oil Cut To Prop Up Prices, Russia Opposes Update (0800ET): The Wall Street Journal reports that Russia opposes the Saudi plan to deepen OPEC+ cuts by 1.2mm b/d. Developing… * * * As we detailed earlier, Brent crude futures were up 75 cents, or 1.45%, at 52.61 a […]
Are Russia and Turkey on a Collision Course?
Are Russia and Turkey on a Collision Course? The murder of the Iranian hero-martyr General Soleimani created a situation in which a war between Iran and the Axis of Kindness (USA/Israel/KSA) became a real possibility but, at the very last minute, Uncle Shmuel decided that he had no stomach for a full-scale war against Iran. […]
Saudi Arabia Pushes For OPEC Production Cut Of Up To 1 Million B/d As Outbreak Weighs On Demand
Saudi Arabia Pushes For OPEC Production Cut Of Up To 1 Million B/d As Outbreak Weighs On Demand Half of China’s economy – the second largest in the world – is expected to be offline through at least mid-February. Traders started pricing in the impact on oil demand weeks ago. And now that it’s become […]
Crude Crashes As Asia Trading Opens; Stocks Slump, Gold Jumps, Yuan Dumps
Crude Crashes As Asia Trading Opens; Stocks Slump, Gold Jumps, Yuan Dumps While gold is spiking higher and stocks are getting hammered lower after a weekend of ugly headlines surrounding the lethality and spread of the novel coronovirus, the Saudis are desperately talking down the crash in crude oil prices… Brent is back below $60 and […]
Tanker Operators Suspend Travel Through Strait Of Hormuz
Tanker Operators Suspend Travel Through Strait Of Hormuz Following Iran’s decision to lob missiles at US-Iraqi bases last night, several major tanker operators have suspended sailing through the Straits of Hormuz, the site of several tanker attacks last year. Petrobras, Bahri – Saudi Arabia’s state-run tanker operator – and other tanker companies have suspended sailing […]
IEA: An Oil Glut Is Inevitable In 2020
IEA: An Oil Glut Is Inevitable In 2020 Despite the OPEC+ cuts, the oil market is still facing a supply surplus in 2020, according to a new report from the International Energy Agency (IEA). OPEC+ announced additional cuts of 500,000 bpd, which sounds more impressive than it is because the group was already producing under […]
Saudi Bases and the Bin Ladens: A Love Story
Saudi Bases and the Bin Ladens: A Love Story What is Trump really up to? It’s almost unknowable. At the same time that the president was pulling (some) troops out of Northeast Syria, giving an antiwar speech, and then sending other troops back into Syria to “secure the oil,” he also quietly sent another 1800 service members into Saudi Arabia. What little […]
The troubled Saudi Aramco IPO: It’s what you can’t see that counts
The troubled Saudi Aramco IPO: It’s what you can’t see that counts It’s what you can’t see—the oil beneath the Arabian sands—that potential investors in Saudi Aramco’s on-again, off-again initial public offering (IPO) ought to focus on. The truth about the remaining oil resources beneath the Saudi desert continues to be a state secret. I’ll […]
Major Blaze At Iran Oil Refinery Raises Suspicions Of Saudi Revenge Attack
Major Blaze At Iran Oil Refinery Raises Suspicions Of Saudi Revenge Attack A section of Iran’s sprawling Abadan oil refinery in the southwest of the country went up in flames Saturday, and state media sources reported the emergency was under control as of Sunday morning. State media is describing it as “a fire in a canal carrying waste from Iran’s Abadan […]
Uncertainties following the Abqaiq attack have shrunk the world’s safe oil reserves by around half (part 1)
Uncertainties following the Abqaiq attack have shrunk the world’s safe oil reserves by around half (part 1) The world has returned to business as usual after the Saudis assured oil markets that production will be back soon and as oil prices have returned to pre-attack levels and even lower, indicating that oil traders focus on […]
Iran Claims To Have Video Evidence Of Oil Tanker Attacks
Iran Claims To Have Video Evidence Of Oil Tanker Attacks By – Oct 16, 2019, 2:30 PM CDTJoin Our Community Iran has claimed that it has footage of last week’s attack on its oil tanker while off the Saudi Arabian Jeddah port, and it proves that the attacks were carried out by Israel, Saudi Arabia, and […]
US To Send ‘Thousands’ More Troops To Saudi Arabia
US To Send ‘Thousands’ More Troops To Saudi Arabia Reuters reports, citing defense or administration sources, that the US is set to send thousands of additional troops to Saudi Arabia in the wake of last month’s Aramco attacks. “The United States is planning to send a large number of additional forces to Saudi Arabia following the Sept. 14 attack on […]
