If you follow the oil news, you’ve probably heard about the deal between the energy ministers from Saudi Arabia, Russia, Qatar, and Venezuela. When the news was announced Oil prices jumped. But if you think this deal actually means anything I’ve got a bridge to sell you. So before you go buying any bridges or buying any oil future’s contracts, let’s take a look at the facts.
The Truth About the Russia-Saudi Oil Deal Read More »
In recent days, signs of a possible breakthrough in the year-long stand-off between Russia and Saudi Arabia on crude production strategy have emerged. Saudi Arabia, OPEC’s dominant member, has long insisted OPEC (read Saudi Arabia) would not reduce output to balance supply and demand absent corresponding cuts from non-OPEC members (read Russia), while Russia has consistently insisted harsh climactic conditions prevent Russian producers from reducing output and in any case Russia insists it could withstand low prices as well as any other country. January 27, however, Russia announced, in a roundabout way, its willingness to cut
Russia Cries Uncle on Oil Read More »
Inventories will continue to rise, but the momentum is slowing.
The following are some observations as to how we got here and how we’re gonna get out.
9 Reasons Why Oil Has Taken So Long to Bottom:
1. OPEC increased production in 2015 to multiyear highs, principally in Saudi Arabia and Iraq where production between the two added 1.5 million barrels per day (mb/d) to inventories after the no cut stance was adopted.
2. Russian production increased in 2015 to post Soviet highs.
3. Long planned Gulf of Mexico production began coming on in late 2015.
60 Reasons Why Oil Investors Should Hang On Read More »
During most of 2015, the U.S. price of gold plummeted… beginning the year around $1300 and finishing near $1050 for an almost 20% loss. As the economy and construction in China slows, other commodities have also been hit by the current bear market conditions. But so far in 2016 gold has improved slightly to around $1100. So where is gold headed now?
Where’s Gold Headed Today? Read More »
As the chart to the left shows, in the period from 2002 until 2014 the U.S. moved from 3rd place to 1st place in world crude oil production. This is primarily due to the improvement in “fracking” technology which has led to the massive increase in the production of shale oil. This does not sit
Are Low Crude Oil Prices a “Boom Or A Curse” For The World Economy? Read More »
With OPEC breaking down and any kind of coordination among its members on price cuts looking increasingly unlikely, it now appears that oil prices could remain below $50 a barrel for a year or more. As producers confront this unpleasant reality, some will finally start to significantly curtail or even shut down operations. And that is going to severely hurt an all but invisible group; strippers in the United States.
Strippers Suffering From Low Oil Prices Read More »
As the terrorist attack in Paris sparks worldwide fear of similar reprisals and a bloody shootout and hostage situation in a five-star Mali hotel exacerbates those concerns, global energy security reels under the pressure of unfathomable geopolitics. In an exclusive interview with Oilprice.com, Robert Bensh—managing director and partner at Pelicourt, a Western-owned oil and gas company navigating tricky conflict zones—discusses:
• The terrorist threat to global energy security
• What ISIS is really after
• The bigger oil picture for ISIS
• Why Iraq can’t cope
• Why Iraqi Kurdistan has disappointed
• Why loose and shifting alliances spell geopolitical disaster
• Whether it’s all as doom-and-gloom as it seems…
ISIS, Turkey And Oil – The Bigger Picture: Interview With Pelicourt Read More »
Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn. The result is a
Saudi War Of Attrition With Russia’s Oil Industry Read More »
For the first time in close to a century, mankind may be about to give serious attention to a technology that has the potential to be a true game-changer in transportation. Elon Musk famously proposed the idea of the Hyperloop a few years ago, and suggested it could be a revolutionary method for travel based on available technology today.
Elon Musk’s Hyperloop Takes A Step Forward Read More »
Nevada is booming as new lithium companies rush in to stake out targets and massive business development gets underway, from Tesla to Amazon and Apple. As the state’s southwest corner fills up with new lithium players, Tesla gears up for its battery gigafactory and the world’s largest data center sets up shop, Nevada is poised for one of the greatest economic revival stories of the century.
Forget Vegas, Nevada Is Now About Reno And Lithium Read More »
