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Tag Archives: oil
Shale Liquidations Begin? Sub-$50 Oil Appears In North Dakota | Zero Hedge
Shale Liquidations Begin? Sub-$50 Oil Appears In North Dakota | Zero Hedge. When ISIS dared to steal and sell oil at below market rates, they were dire pirates that needed to be destroyed (and anyone who dared to buy it was pariah). So when, as Bloomberg reports, crude sold at the wellhead in the Bakken shale region in […]
There Are 300,000 Iraqi Barrels Signaling Oil Glut Will Deepen – Bloomberg
There Are 300,000 Iraqi Barrels Signaling Oil Glut Will Deepen – Bloomberg. Not only is OPEC refraining from cutting oil output to stem the five-month plunge in prices, it’s adding to the supply glut. Just five days after the Organization of Petroleum Exporting Countries decided to maintain production levels, Iraq, the group’s second-biggest member, inked […]
Oil War Pushes Venezuela Over Brink, Probability of Default Soars to 84%
Oil War Pushes Venezuela Over Brink, Probability of Default Soars to 84% Fracking, Tar Sands, & OPEC Meet Decades of Mismanagement OPEC member Venezuela has one of the largest oil and natural gas proven reserves in the world. It’s the 12th largest producer in the world. It’s still one of the top suppliers of crude […]
Target Liberty: Gorbachev Accuses US of Stoking ‘New Cold War’
Target Liberty: Gorbachev Accuses US of Stoking ‘New Cold War’. Mikhail Gorbachev claims that American “triumphalism” is stoking a new Cold War and called for “avid militarists” to stop dragging Europe into conflict, reports the Telegraph. Gorbachev said there was still time to defuse the standoff between Moscow and the West, as he and his western counterparts had […]
charles hugh smith-The Oil-Drenched Black Swan, Part 3: Multiple Risks, Multiple Unknowns
charles hugh smith-The Oil-Drenched Black Swan, Part 3: Multiple Risks, Multiple Unknowns. It is these unforeseeable and uncontrollable consequences that are poised to wreak havoc on the global financial system. Here’s the thing about risk: it bursts out of whatever is deemed “safe.” It wasn’t accidental that the Global Financial Meltdown originated in home mortgages; it […]
oftwominds-Charles Hugh Smith: The Oil-Drenched Black Swan, Part 2: The Financialization of Oil
oftwominds-Charles Hugh Smith: The Oil-Drenched Black Swan, Part 2: The Financialization of Oil. All the analysts chortling over the “equivalent of a tax break” for consumers are about to be buried by an avalanche of defaults and crushing losses as the chickens of financializing oil come home to roost. The pundits crowing about the stimulus […]
And The Biggest Winner From The OPEC Price War Is… | Zero Hedge
And The Biggest Winner From The OPEC Price War Is… | Zero Hedge. “This is a golden time window to acquire more strategic oil at lower costs,” notes one Hong-Kong based analyst, as Bloomberg confirms what we have noted here and here, that China is emerging as the winner from OPEC’s battle with rival oil producers as the world’s biggest energy consumer […]
charles hugh smith-The Oil-Drenched Black Swan, Part 1
charles hugh smith-The Oil-Drenched Black Swan, Part 1. Given the presumed 17% expansion of the global economy since 2009, the tiny increases in production could not possibly flood the world in oil unless demand has cratered. The term Black Swan shows up in all sorts of discussions, but what does it actually mean? Though the term has roots […]
Resource Insights: Turnabout: OPEC shows U.S. oil producers who’s boss
Resource Insights: Turnabout: OPEC shows U.S. oil producers who’s boss. To paraphrase Mark Twain: Rumors of OPEC’s demise have been greatly exaggerated. Breathless coverage of the rise in U.S. oil production in the last few years has led some to declare that OPEC’s power in the oil market is now becoming irrelevant as America supposedly […]
Cheap Oil A Boon For The Economy? Think Again – The Automatic Earth
Cheap Oil A Boon For The Economy? Think Again – The Automatic Earth. I thought it might be a nice idea to question a certain someone’s theories using their own words, while at the same time showing everybody what the dangers are from falling oil prices. There are many ‘experts and ‘analysts’ out there claiming […]
Big Oil Going Big In The Gulf Of Mexico
Big Oil Going Big In The Gulf Of Mexico. The oil industry is betting big on the Gulf of Mexico with both costs and production rising as a result. The Gulf has seen a bit of a resurgence in production this year, after declining from a peak in 2009. The oil industry extracted 1.7 million […]
Canada’s Expansion Tops Forecasts as Exports Lead Growth – Bloomberg
Canada’s Expansion Tops Forecasts as Exports Lead Growth – Bloomberg. Canada’s economy grew faster than economists forecast in the third quarter as exports of crude oil grew and consumers opened their wallets for cars and other big-ticket items. Gross domestic product rose at a 2.8 percent annualized pace from July to September, Statistics Canada said today […]
Oil Tumbles to 4-Year Low Before OPEC, Pulling Down Krone – Bloomberg
Oil Tumbles to 4-Year Low Before OPEC, Pulling Down Krone – Bloomberg. Oil slid to a four-year low amid speculation OPEC will refrain from cutting output at today’s meeting, dragging down shares of energy companies, Gulf-region stocks, and the Norwegian krone. Government bonds rose, with yields in Europe falling to record lows. West Texas Intermediate crude tumbled 2.1 percent […]
For The World’s Largest Rig Operator, The “Recovery” Is Now Worse Than The Post-Lehman Crash | Zero Hedge
For The World’s Largest Rig Operator, The “Recovery” Is Now Worse Than The Post-Lehman Crash | Zero Hedge. The last time the world’s largest oil and gas drill operator, Seadrill, halted its dividend payment was in 2009, shortly after Lehman had filed and the world was engulfed in a massive depression. Retrospectively, this made sense: […]
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters. (Reuters) – OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut. Saudi Oil Minister Ali al-Naimi said […]
