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Tag Archives: oil demand
OPEC Reports 151Kbpd Drop In October Crude Output; Raises Demand Forecast For 2018
OPEC Reports 151Kbpd Drop In October Crude Output; Raises Demand Forecast For 2018 True to its perpetually optimistic form, OPEC, which only last week for the first time conceded the threat posed by rising US shale production… … sharply raised its demand forecast for cartel oil in 2018, ahead of a key meeting of the […]
Norway Unfazed By Peak Oil Concerns
Norway Unfazed By Peak Oil Concerns When crude oil demand will peak is anyone’s guess. Forecasts vary widely. Wood Mackenzie says that peak demand is “very real,” and sees a decline of 4 million bpd between 2020 and 2035. Other majors including BP and Total SA see peak demand as coming between 2025 and 2040, as a result of […]
OPEC Boosts Oil Demand Estimates, Admits Oil Prices Can’t Rise Above $55
OPEC Boosts Oil Demand Estimates, Admits Oil Prices Can’t Rise Above $55 In its latest OPEC Monthly Oil Market Report (October) the oil cartel has increased its oil demand estimates for 2017, 2018 on strengthening world economy, and weaker outlook for supplies from its rivals. Specifically, OPEC forecasts that based on the current global oil […]
Bill Blain: “Oil Could Change Everything”
Bill Blain: “Oil Could Change Everything” Blain’s Morning Porridge: A Short Distraction In The Oil Market Did I detect a distinct change in the market wind yesterday? There is a new freshening blow out the East. It feels like the world is changing: a slide in tech stocks and a wobble in sentiment, stronger oil […]
IEA Forecasts Fastest Oil Demand Growth In Two Years
IEA Forecasts Fastest Oil Demand Growth In Two Years The International Energy Agency, which advises most major economies on energy policy, forecast that global oil demand will climb this year by the most in two years amid stronger-than-expected consumption in Europe and the U.S. although it was unclear just how this will offset recently fading […]
Hurricane Irma Could Destroy Oil Demand
Hurricane Irma Could Destroy Oil Demand About half of the shuttered refining capacity along the Gulf Coast could be back up and running by Thursday, assuaging concerns about the possibility of acute gasoline shortages in much of the U.S. The disruptions of more than 4 million barrels per day of refining capacity have been cut […]
Oil Down As Glut Fears Return
Oil Down As Glut Fears Return Oil prices fell on Friday as the IEA downgraded its projections for oil demand, dashing hopes that oil markets would rebalance this year. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) …click on the above link to read the rest of the […]
America’s “Soaring” Gasoline And Oil Demand Was Just An Illusion: How The EIA Fooled The Algos
America’s “Soaring” Gasoline And Oil Demand Was Just An Illusion: How The EIA Fooled The Algos When it comes to “real-time” measurements of crude demand and supply, the data is notoriously bad (and perhaps, according to some, intentionally manipulated). We pointed this out most recently in early March when we that according to IEA data, crude […]
China And India Rewrite The Rules Of The Oil And Gas Game
China And India Rewrite The Rules Of The Oil And Gas Game As the current oil price crisis leads to some game-changing upheavals in the global energy market, Asia’s two powerhouses, China and India, are taking advantage of the supply glut to rewrite the long-established rules of business. India and China have seen exponential growth […]
A Secret About Oil You Won’t Find Anywhere Else
A Secret About Oil You Won’t Find Anywhere Else This is going to be a far larger problem than Wall Street realizes. In early 1983 – the first week of February, to be precise – the inventory of crude oil in the U.S. reached an all-time economic high. I say “economic high” because nominal supply […]
Why oil under $30 per barrel is a major problem
Why oil under $30 per barrel is a major problem A person often reads that low oil prices–for example, $30 per barrel oil prices–will stimulate the economy, and the economy will soon bounce back. What is wrong with this story? A lot of things, as I see it: Oil producers can’t really produce oil for $30 […]
Doom and Gloom for North American Oil Producers
Doom and Gloom for North American Oil Producers Oil Prices To the dismay of U.S. shale producers, oil prices continue their long slow slide into the abyss. Perhaps the current price of $35 per barrel – an 11 year low – is the final destination. More than likely, however, it’s a brief reprieve before the […]
Doom and Gloom for North American Oil Producers
Doom and Gloom for North American Oil Producers Lower Oil Prices To the dismay of U.S. shale producers, oil prices continue their long slow slide into the abyss. Perhaps the current price of $35 per barrel – an 11 year low – is the final destination. More than likely, however, it’s a brief reprieve before […]
IEA Sees No Oil Price Rebound For Years
IEA Sees No Oil Price Rebound For Years Oil prices are likely to stay below $80 per barrel for another five years, according to a closely watched energy report. The International Energy Agency released its 2015 World Energy Outlook (WEO), with predictions for energy markets out to 2040. Although there are no shortage of caveats, the IEA […]
What The Oil And Gas Industry Is Not Telling Investors
What The Oil And Gas Industry Is Not Telling Investors Oil prices crashed because of too much supply, but will rebound as production shrinks and demand rises. But what if long-term demand for oil ends up being sharply lower than what the oil industry believes? That is the subject of a new report from The Carbon Tracker […]
