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IEA Warns Of New Oil Glut
IEA Warns Of New Oil Glut The global oil market could slip into deeper oversupply on the back of non-OPEC production growth led by the United States, the International Energy Agency said in its latest Oil Market Report. “The main factor,” the IEA said, “is US oil production. In just three months to November, crude […]
Oil Production Vital Statistics January 2018
Oil Production Vital Statistics January 2018 The oil price has begun 2018 strongly with Brent breaking through $70 / bbl for the first time since December 2014. OPEC+Russia+others’ discipline on production constraint remains high with ~ 1.7 Mbd production withheld from the market. The IEA reports an ~1 Mbpd stock draw in the OECD + […]
What Could Push Oil To $100?
What Could Push Oil To $100? If anyone thought the latest oil market outlooks of the EIA and the IEA are upbeat, here’s an even more upbeat one from Energy Aspects: The consultancy expects crude demand this year to grow by 1.7 million bpd, and says Brent could touch above $100 a barrel in 2019. […]
WTI Tumbles To $62 Handle After IEA Predicts “Explosive” US Shale Production As Oil Prices Surge
WTI Tumbles To $62 Handle After IEA Predicts “Explosive” US Shale Production As Oil Prices Surge Update: The IEA report has impact prices – as would be expected – sending WTI back below the crucial support level of $63 once again… With WTI Futures net long positioning at extreme longs, one wonders if $63 can […]
Bedazzled by Energy Efficiency
Bedazzled by Energy Efficiency To focus on energy efficiency is to make present ways of life non-negotiable. However, transforming present ways of life is key to mitigating climate change and decreasing our dependence on fossil fuels. Energy efficiency policy Energy efficiency is a cornerstone of policies to reduce carbon emissions and fossil fuel dependence in […]
Everyone cutting coal use except for most of the world and most of the banks
Everyone cutting coal use except for most of the world and most of the banks The situation with our most hated energy asset Australia’s big four banks are fighting over themselves to turn down the chance to profit from coal loans and tell the world. Months ago, Westpac went on a low-coal diet, declaring like […]
Is The Oil Glut Set To Return?
Is The Oil Glut Set To Return? For the second month in a row, the IEA has poured cold water onto the oil market, publishing an analysis that suggests 2018 could hold some bearish surprises for crude. The IEA’s December Oil Market Report dramatically revises up the expected growth of U.S. shale, which goes a […]
Does the IEA try to hide the conventional crude oil peak in its 2017 World Energy Outlook?
Does the IEA try to hide the conventional crude oil peak in its 2017 World Energy Outlook? In this post we look at crude oil production in the World Energy Outlook released in November 2017 Fig 1: WEO 2017 oil supply Note that the 5 year interval table omits 2005 and 2010. Is this to conceal […]
The IEA Is Grossly Overestimating Shale Growth
The IEA Is Grossly Overestimating Shale Growth This week, the IEA said that U.S. shale would dominate the oil and gas markets over the next decade, rising to “a level 50 percent higher than any other country has ever managed.” With a “remarkable ability to unlock new resources cost-effectively,” U.S. shale will add millions of […]
Natural gas has no climate benefit and may make things worse
Natural gas has no climate benefit and may make things worse Methane leaks in New Mexico’s oil and gas industry equal 12 coal-fired power plants. A GAS FLARE AT A GAS-PROCESSING FACILITY IN NORTH DAKOTA. CREDIT: AP/MATTHEW BROWNThe evidence is overwhelming that natural gas has no net climate benefit in any timescale that matters to […]
IEA’s Shocking Revelation About U.S. Shale
IEA’s Shocking Revelation About U.S. Shale The oil market is exhibiting signs of having reached a “new normal,” according to the IEA, with the floor for oil prices jumping from $50 to $60 per barrel. But a few factors could poke holes in that price floor, and market watchers should be careful not to become […]
IEA Pours Cold Water On OPEC Optimism, Warns Global Oil Demand Shrinking
IEA Pours Cold Water On OPEC Optimism, Warns Global Oil Demand Shrinking Pouring cold water on yesterday’s optimistic demand forecast projected by OPEC, which projected global crude demand growth to rise by 1.5mm b/d in 2018, this morning the International Energy Agency warned that the crude oil price rally could be short-lived because, contrary to […]
Energy and Authoritarianism
Energy and Authoritarianism Could declining world energy result in a turn toward authoritarianism by governments around the world? As we will see, there is no simple answer that applies to all countries. However, pursuing the question leads us on an illuminating journey through the labyrinth of relations between energy, economics, and politics. The International Energy […]
IEA: Price Spike Coming In 2020
IEA: Price Spike Coming In 2020 The oil market has been awash in crude for more than three years, and OPEC has struggled to accelerate the rebalancing effort, but the world could be heading for a supply crunch in a few years due to the sharp fall in industry spending. The halving of oil prices […]
