Opec- New Cartel

New Oil Cartel Threatening OPEC

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When reports emerged that India and China are in talks about forming an oil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying.

“The timing is right. The boom in U.S. oil and gas production gives us greater leverage against OPEC,” the Times of India quoted an Indian official as saying last month after the formal start of said talks. The two countries, after all, account for a combined 17 percent of global oil consumption and they are the ones that would be the hardest hit if prices rise as a result of OPEC’s actions.

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Saudi Crude Oil Supply

Can Saudi Arabia Prevent The Next Oil Shock?

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Current volatility in the global oil market is, according to most analysts, due to fears that markets are facing a severe threat. A doomsday scenario is being painted in the media which suggests that oil prices will collapse as Moscow and Riyadh allow for OPEC compliance to slip, and that a glut of Saudi crude will be hitting the market. This assumes that Saudi Arabia is able to produce at least 12.5 million bpd, But no one has really assessed the Saudi spare capacity capabilities…

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IEA: High Oil Prices “Taking A Toll” On Demand

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Geopolitics has taken over the oil market, driving oil prices up to three-year highs. The inventory surplus has vanished, and more outages could push oil prices up even higher. Yet, there are some signs that demand is starting to take a hit as oil closes in on $80 per barrel.

In the International Energy Agency’s (IEA) May Oil Market Report, the agency said that OPEC might be needed to step in and fill the supply gap if a significant portion of Iran oil goes offline. Saudi Arabia suggested shortly after the U.S. announced its withdrawal from the Iran nuclear deal that OPEC would act to mitigate any supply shortfall should it occur.

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Don’t Count Your North Korean Chickens Before They’re Hatched

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A few weeks ago, I was telling a few thousand of my “closest friends” on Facebook that you can’t count your North Korean chickens before they hatch. North Korea has a long history of provoking the West with Nuclear threats then backing down in exchange for “concessions” and a “Treaty”. Typically this means a cash bribe from the West in exchange for a worthless promise from North Korea.  After a while the Treaty gets broken and the cycle repeats itself.  

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When Will Electric Cars Take Over The Roads?

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The age of the electric vehicle (EV) will be here sooner than you think. Out of 1 billion cars in the world, only 2 million are electric. But that will soon change, as costs diminish, and more governments encourage the adoption of EVs to cut carbon emissions and fight urban pollution. According to Bloomberg, by 2040, 54 percent of all new car sales will be for EVs. Millions of new EVs will take a big bite out of oil demand and displace 8 million barrels of transport fuel (gasoline and diesel) every day.

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Lithium

A New Lithium War Is About To Begin

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It’s the modern gold rush. Around the world, the most sought-after mineral isn’t a precious metal, nor is it oil and gas…it’s lithium. Lithium, or “white petroleum” as some call it, has become a crucial element in today’s high-tech economy. Demand for lithium is soaring, and producers are frantically searching for new sources of supply. Prices have doubled in the last two years, rising as high as $16,500 per ton.

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