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Tag Archives: crude oil
Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports
Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports Peak Oil is very much alive Despite the attention-grabbing economic volatility that is grabbing headlines, it’s important to keep our eye on the energy story firmly in focus. This is especially true as the headlines we regularly read about Peak Oil being dead […]
New Vehicle Sales Collapse in Canada’s Oil Patch
New Vehicle Sales Collapse in Canada’s Oil Patch Oil spills into the broader economy. Canada’s economy has split in two. The resource producing economy is deteriorating at a breath-taking pace, broadsided by collapsing commodity prices. For Canada, the most important commodity is crude oil. West Texas Intermediate has plunged below $39 a barrel, not seen […]
Oil Price Collapse Triggers Currency Crisis In Emerging Markets
Oil Price Collapse Triggers Currency Crisis In Emerging Markets Emerging market currencies are getting slammed by the collapse in commodity prices, a downturn that has accelerated in recent weeks. The health of many middle-income and emerging market economies has been predicated on relatively strong commodity prices. A whole category of countries achieved strong growth by […]
Oilsands companies feel the pain as Canadian oil price falls
Oilsands companies feel the pain as Canadian oil price falls Alberta companies at break-even point or losing money as heavy crude sinks below $24 US a barrel A drop in Canadian oil prices this week means companies in Alberta’s oilsands are breaking even or losing money on their operations. Currently, oilsands companies are receiving about […]
Cash-Strapped Saudi Arabia Hopes To Continue War Against Shale With Fed’s Blessing
Cash-Strapped Saudi Arabia Hopes To Continue War Against Shale With Fed’s Blessing Two weeks ago, Morgan Stanley made a decisively bearish call on oil, noting that if the forward curve was any indication, the recovery in prices will be “far worse than 1986” meaning “there would be little in analysable history that could be a […]
Crude Surges After Surprise Inventory Draw, Biggest Production Decline Since 2013
Crude Surges After Surprise Inventory Draw, Biggest Production Decline Since 2013 Total US crude production slumped over 1.5% last week – the biggest decline since October 2013. Add to that a considerable inventory draw of over 4.2mm barrels (against expectations of a build)… and crude prices are surging. Charts: Bloomberg
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red For the first half an hour after China opened, things looked bleak: after opening down 5%, the Shanghai Composite staged a quick relief rally, then tumbled again. And then, just around 10pm Eastern, we saw acoordinated central bank intervention stepping […]
Saudis Expand Price War Downstream
Saudis Expand Price War Downstream The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. As if being the world’s biggest exporter of oil was not enough, the […]
More Job Losses Coming to U.S. Shale
More Job Losses Coming to U.S. Shale With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran’s crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC’s high production levels and China’s market […]
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016
Saudis Pump Record Crude as OPEC Sees Stronger Demand in 2016 Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016. Source: Bloomberg The world’s biggest oil exporter pumped 10.564 million barrels a day in June, exceeding a previous record set in […]
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge
China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge Here is a brief sample of some of the measures the Chinese government and the PBOC have unleashed in just the past ten days to prop up the crashing market include: a ban on major shareholders, corporate executives, directors from […]
Bearish News For Oil Growing By The Day
Bearish News For Oil Growing By The Day Oil hit its lowest point in two months on July 1, falling on a combination of market turmoil and bearish oil figures. WTI dipped below $57 and Brent dropped to around $62 per barrel, breaking out of a narrow range within which the two benchmarks have been […]
New International Energy Statistics.
New International Energy Statistics. The Eia has finally updated their International Energy Statistics with data through February 2015. All data in the charts below are Crude + Condensate and is in thousand barrels per day with the last data point February 2015. World C+C dropped 477,000 bpd in January and another 65,000 bpd in February for a total decline of […]
