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Tag Archives: oil supply
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 […]
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 […]
As Oil Markets Tighten, Geopolitical Events Matter Again
As Oil Markets Tighten, Geopolitical Events Matter Again Oil prices jumped on Thursday as surprise outages came from Canada and Libya, reversing several days of losses. WTI and Brent surged by more than 4 percent in early trading on May 5. The hellish wildfires sweeping swathes of Alberta near Fort McMurray forced the evacuation of tens of […]
Why China Is Really Dictating the Oil Supply Glut
Why China Is Really Dictating the Oil Supply Glut Ship tracking data from Bloomberg shows that 83 supertankers carrying around 166 million barrels of oil are headed to China, which has stockpiled an impressive 787,000 barrels a day in the first quarter of 2016—the highest stockpiling rate since 2014. While the world was speculating about oil prices […]
U.S. Oil Supply To Fall Faster Than Expected
U.S. Oil Supply To Fall Faster Than Expected Key package of statistics released on U.S. oil and gas activity this week, from the national Bureau of Land Management (BLM). And one number in particular stood out. Showing how drilling activity in key U.S. plays is declining at an unprecedented pace. That figure is the number […]
Advantage U.S. In The Global Petroleum Showdown?
Advantage U.S. In The Global Petroleum Showdown? Is the crude stock data in the EIA’s Weekly Petroleum Status Report (Table 1 in the report) a useful tool for judging the prospects for the U.S. petroleum industry— and therefore for the global petroleum industry—or is it misleading? With few interruptions, U.S. crude stocks increased steadily during 2015 and […]
Saudis Retaliate To “Oil Freeze” Fallout: Ban Transport Of Iranian Crude In Territorial Waters
Saudis Retaliate To “Oil Freeze” Fallout: Ban Transport Of Iranian Crude In Territorial Waters At first, when it announced the terms of its “oil freeze” agreement with Russia one month ago, Saudi Arabia seemed willing to grant Iran a temporary exemption from the supply freeze, at least until it recovers its pre-embargo production levels. That […]
Saudi Policy Tied to Weak Economy
Saudi Policy Tied to Weak Economy In recent weeks I have read many oil prognosticators theorizing what the ultimate Saudi strategy is, or what their end game might be. To recap, in mid-2014, Saudi Arabia decided to pump more oil into the market that was already starting seeing rising supply. U.S. shale was largely blamed […]
Shale Euphoria: The Boom and Bust of Sub Prime Oil and Natural Gas
Shale Euphoria: The Boom and Bust of Sub Prime Oil and Natural Gas Those whom the gods wish to destroy they first send mad Introduction The aim of this article is to show that the shale industry, whether extracting oil or gas, has never been financially sustainable. All around the world it has consistently disappointed […]
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 […]
Peak Oil: Choosing Chaos … or Not
Peak Oil: Choosing Chaos … or Not If/when a petroleum shortage impacts it will concentrate minds wonderfully. But when it comes the window of opportunity could be brief and risky. If things deteriorate too far too fast there could easily be too much chaos for sense to prevail and for us to organize cooperative local alternative systems. […]
Shock Report: Oil Oversupply Exaggerated: Millions of Barrels Go Missing: “Oil Market Could Tighten Substantially”
Shock Report: Oil Oversupply Exaggerated: Millions of Barrels Go Missing: “Oil Market Could Tighten Substantially” You may remember that just two months ago the International Energy Agency warnedthe oil market could “drown in oversupply” in 2016. The outlook for oil, which had tumbled 75% since 2012 and hit a low of $28 per barrel by mid January, was […]
Oil Price Crash Was Not Saudi Arabia’s Fault
Oil Price Crash Was Not Saudi Arabia’s Fault Quite simply, the Saudis want to maintain their market share, but their means to control that are dwindling. The whole internet is jam-packed with analysis portraying Saudi Arabia and OPEC as villains for the oil price collapse. On a closer look, however, the Saudi’s could have taken […]
Energy Wars of Attrition: The Irony of Oil Abundance
Energy Wars of Attrition: The Irony of Oil Abundance Three and a half years ago, the International Energy Agency (IEA) triggered headlines around the world by predicting that the United States would overtake Saudi Arabia to become the world’s leading oil producer by 2020 and, together with Canada, would become a net exporter of oil around 2030. Overnight, […]
IA’s Dire Oil Forecast: $34 Crude Due To Far More Resilient Production, Oversupply And Lower Demand
IA’s Dire Oil Forecast: $34 Crude Due To Far More Resilient Production, Oversupply And Lower Demand Now that the massive USO-driven squeeze appears to be over (congratulations to whoever managed to sell equity and their secured lenders) the bad news can return. First, it was Goldman slamming the “unsustainable rally, and then just a few hours […]
