Insight and inspiration in turbulent times.
A midweek update. Despite several important developments during the last few days which should affect the oil markets, prices have remained largely unchanged with New York futures closing at $45.09 and London at $48.37. London prices were down 10 percent and and New York down 8 percent.
A weekly roundup of peak oil news, including: -Quote of the Week -Oil and the Global Economy -The Middle East and North Africa -China -Russia/Ukraine -The Briefs
Oil prices closed Wednesday near the bottom of the trading range that has been in place since the beginning of September.
The US Secretary of Commerce noted last week that interest in acquiring new drilling rights in the Gulf of Mexico is dropping due to low oil prices.
It seems that a lot of traders believe the oil glut thesis has been oversold and that a big price rebound is coming any day now.
Some are saying that the decline in US shale oil production is a victory for the Saudi’s policy of driving high-cost oil producers from the markets by keeping OPEC production high.
The EIA seems to be getting a handle US oil production and its prospects for the next 18 months.
Compassion for refugees is spreading across Europe. Could it lead to a saner ‘open borders’ policy?
A weekly review including Oil and the Global Economy, The Middle East & North Africa, China, Russia/Ukraine, Quote of the Week, The Briefs
US shale oil is unusual, in being privately owned: most of the world’s oil reserves (over 70 percent) are in state hands.
A weekly roundup, including: -Oil and the global economy -The Middle East and North Africa -China -Russia/Ukraine -The Briefs
The great oil price slide of 2014-15 is taking on epic proportions.
