{"id":133,"date":"2014-10-18T13:02:55","date_gmt":"2014-10-18T13:02:55","guid":{"rendered":"http:\/\/olduvai.ca\/?p=133"},"modified":"2014-10-18T13:02:55","modified_gmt":"2014-10-18T13:02:55","slug":"peak-oil-notes-oct-16","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=133","title":{"rendered":"Peak Oil Notes &#8211; Oct 16"},"content":{"rendered":"<p><a href=\"http:\/\/www.resilience.org\/stories\/2014-10-16\/peak-oil-notes-oct-16\">Peak Oil Notes &#8211; Oct 16<\/a>.<\/p>\n<p><span class=\"Apple-style-span\">The price plunge which began in mid-June when New York oil futures trading around $105 a barrel continued this week with oil touching $80 on Wednesday before recovering to close at $81.78. London\u2019s Brent crude underwent a similar collapse to close yesterday at $83.46. Weak demand: increasing US shale oil production: a stronger dollar; and the refusal of the Saudis and its Gulf Arab allies to cut production combined to trigger the decline. US retail gasoline fell to an average of $3.17 a gallon, the lowest since February 2011. The weekly stocks report will be delayed until Thursday, but analysts are expecting a 2 million barrel increase in US crude inventories.<\/p>\n<p>The IEA confirmed the weakness in the world oil markets this week by cutting their forecast for the increase in global oil demand by this year by 250,000 b\/d from last month\u2019s estimate. The Agency now believes that growth in consumption this year will be only 700,000 b\/d, but will increase to 1.1 million b\/d in 2015 as the global economy improves.<\/span><\/p>\n<p>&#8230;click on above link for the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peak Oil Notes &#8211; Oct 16. The price plunge which began in mid-June when New York oil futures trading around $105 a barrel continued this week with oil touching $80 on Wednesday before recovering to close at $81.78. London\u2019s Brent crude underwent a similar collapse to close yesterday at $83.46. Weak demand: increasing US shale [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[91,184,416,433,588,589,592,596,694,701,834,874,895],"class_list":["post-133","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-brent-crude","tag-crude-oil","tag-iea","tag-international-energy-agency","tag-oil","tag-oil-demand","tag-oil-price","tag-oil-supply","tag-russia","tag-saudi-arabia","tag-us","tag-wext-texas-intermediate","tag-wti"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=133"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/133\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}