{"id":5587,"date":"2015-02-11T19:53:29","date_gmt":"2015-02-12T00:53:29","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5587"},"modified":"2015-02-11T19:53:29","modified_gmt":"2015-02-12T00:53:29","slug":"why-we-wont-see-an-oil-price-rebound-yet","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5587","title":{"rendered":"Why We Won\u2019t See An Oil Price Rebound Yet"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Energy\/Oil-Prices\/Why-We-Wont-See-An-Oil-Price-Rebound-Yet.html\" target=\"_blank\">Why We Won\u2019t See An Oil Price Rebound Yet<\/a><\/h3>\n<p>The front page of\u00a0<em>The Wall Street Journal<\/em>\u00a0on Tuesday, February 10 proclaimed \u201c<a href=\"http:\/\/http\/www.wsj.com\/articles\/demand-for-opec-crude-will-rise-this-year-says-group-1423482563\">Oil-Price Rebound Predicted<\/a>\u201d according to the IEA (International Energy Agency).<\/p>\n<p>Not true.<\/p>\n<p>The February 10\u00a0<a href=\"http:\/\/https\/www.iea.org\/oilmarketreport\/omrpublic\/\">IEA Oil Market Report\u00a0<\/a>states that some \u201cmarket participants are seeing light at the end of the tunnel\u201d based on oil company spending cuts. It goes on to mention that over-supply could become as bad as in 1998 when oil prices plunged to almost $11 per barrel.<\/p>\n<p>That\u2019s some kind of light at the end of the tunnel!<\/p>\n<p>I believe that oil prices will increase strongly before the end of 2015 but there has to be a reason. Budget cuts and falling rig counts may create a feeling that production will fall but markets don\u2019t move far or for long based on feelings.<\/p>\n<p>The first reason for a rebound in oil prices will be a production cut after the June OPEC meeting. That didn\u2019t happen in November because Russia said no. I think Russia will be ready by June.<\/p>\n<p>The second reason will be when North American oil production starts to fall, hopefully around the same time as an OPEC plus Russia production cut. Another reason may be a political event that introduces a fear premium into the price of oil like ISIS in Iraq, Ukraine or something not on the radar yet. That\u2019s how the world is.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why We Won\u2019t See An Oil Price Rebound Yet The front page of\u00a0The Wall Street Journal\u00a0on Tuesday, February 10 proclaimed \u201cOil-Price Rebound Predicted\u201d according to the IEA (International Energy Agency). Not true. The February 10\u00a0IEA Oil Market Report\u00a0states that some \u201cmarket participants are seeing light at the end of the tunnel\u201d based on oil company [&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":[416,433,442,446,588,592,1775,600,694,723,821],"class_list":["post-5587","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-iea","tag-international-energy-agency","tag-iraq","tag-isis","tag-oil","tag-oil-price","tag-oil-price-collapse","tag-opec","tag-russia","tag-shale-oil","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5587","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=5587"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5587\/revisions"}],"predecessor-version":[{"id":5588,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5587\/revisions\/5588"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}