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Dodgy Demand Data? The Oil Price Collapse Conspiracy
Dodgy Demand Data? The Oil Price Collapse Conspiracy WTI oil prices have given up nearly all their gains since Russia invaded Ukraine, falling roughly 9.5% over the course of the week amid fears oil demand is collapsing. Some oil pundits are now claiming that the Biden administration has been fabricating low gasoline demand data in […]
China Could Cause The Next Massive Crash In Oil Prices
China Could Cause The Next Massive Crash In Oil Prices China has been one of the main drivers of the 2000-2014 commodities supercycle Slower economic growth and a huge debt bubble pose a tremendous risk to oil markets China’s Evergrande crisis shows the fragility of the Chinese debt market Given the extreme disconnect between China’s […]
Oil Price Crash Costs Saudi Arabia $27.5 Billion In Revenue In 2020
Oil Price Crash Costs Saudi Arabia $27.5 Billion In Revenue In 2020 The oil price collapse is depriving Saudi Arabia of US$27.5 billion in oil revenues this year, Saudi Crown Prince Mohammed bin Salman said on Friday, admitting that the current oil income is not enough to cover the Kingdom’s salaries bill. Saudi Arabia had […]
Oil Price Crash Sparks A Wave Of Banking Mergers In The Middle East
Oil Price Crash Sparks A Wave Of Banking Mergers In The Middle East The historic oil price crash and Covid-19 pandemic have left major producers of the commodity in a deep economic crisis. Dramatic production cuts by OPEC+ has exacerbated the situation by further lowering export inflows for economies that depend heavily on oil dollars. […]
Futures, Oil Plunge As Crude Contagion Spreads To All Markets
Futures, Oil Plunge As Crude Contagion Spreads To All Markets The experts said ignore the May WTI meltdown – it is irrelevant and is only confined to the deliverable contract. The experts were wrong. Not only was the Monday May WTI meltdown not contained, with the contract still trading negative after closing down nearly $40 […]
Historic Oil Crash Sends Canadian Oil Prices Negative
Historic Oil Crash Sends Canadian Oil Prices Negative When Goldman’s crude oil analysts turned apocalyptic last month, writing that “This Is The Largest Economic Shock Of Our Lifetimes“, they echoed something we said previously namely that the record surge in excess oil output amounting to a mindblowing 20 million barrels daily or roughly 20% of […]
For Oil and Its Dependents, It’s Code Blue
For Oil and Its Dependents, It’s Code Blue The great price collapse of 2020 will topple companies and transform states. If oil has been laid low by the coronavirus, then the nations whose economies most depend on it might soon be on ventilators. By any prognosis the great oil price collapse of 2020 has pushed […]
What The Oil Price Collapse Says About The Economy
What The Oil Price Collapse Says About The Economy In Tuesday’s technical update, I discussed the breakdown in the major markets both internationally as well as domestically. Of note, was the massive bear market in China which is currently down nearly 50 percent from its peak. (Click to enlarge) What is important about China, besides […]
What Will Drive The Next Oil Price Crash?
What Will Drive The Next Oil Price Crash? As we roll into 2018, analysts and investors are more optimistic that the oil market will further tighten next year and support higher oil prices, but rising U.S. shale production will likely cap any significant price gains. On the demand side, expectations are that global economic growth […]
US to Import Inflation from Japan, China, South Korea
US to Import Inflation from Japan, China, South Korea Even from Japan – whose export producer prices are soaring. The oil price collapse that started in 2014 pushed down input costs that companies – the “producers” – faced. And producer price indices, which measure inflation further up the pipeline, plunged. But this is over. And […]
Turns out, OPEC Isn’t Dead Yet
Turns out, OPEC Isn’t Dead Yet In War for Market Share with US shale oil. Mayhem has crisscrossed the global oil markets since 2014: Huge losses for Big Oil, including teetering, over-indebted, state-owned giants like Mexico’s Pemex and Brazil’s Petrobras; bankruptcies among some of the smaller players; cuts in production in the US, Canada, and China where production […]
Saudi Arabia’s Oil-Bust Cash-Flow Debacle Begins to Bite
Saudi Arabia’s Oil-Bust Cash-Flow Debacle Begins to Bite Hangover of oil dependence has only just begun. It was supposed to be the biggest, most ambitious, most lucrative infrastructure project Spain’s construction industry had ever undertaken on the Arabian Peninsula. Launched three years ago, the high-speed rail link project between Medina and Mecca was a dream […]
Why no economic boost from lower oil prices?
Why no economic boost from lower oil prices? Many analysts had anticipated that a dramatic drop in oil prices such as we’ve seen since the summer of 2014 could provide a big stimulus to the economy of a net oil importer like the United States. That doesn’t seem to be what we’ve observed in the […]
Angola Could Be OPEC’s First Member To Fall
Angola Could Be OPEC’s First Member To Fall OPEC-member Angola, which is dependent on oil for 95 percent of its export revenues, is facing an urgent cash flow problem, and the only way out is external help as the dominoes start to fall. Angola has sought financial aid from the International Monetary Fund (IMF) to […]
