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Oil price, Chariot, Aminex and finally...

Oil price A lot of economic stats today led by the Fed Monetary Policy this evening, apart from that the UK has unemployment data and the MPC minutes as well as a bunch of Euro numbers to inspire Super Mario. Also on numbers we had the API inventory data after hours last night, yet again the teenag...
» Written by Malcolm Graham-Wood on Wednesday, December 17, 2014

Oil price, Gulf Keystone, Afren/Madagascar Oil, Sundry-Repsol-Chevron-Technip-RKH-Antrim/Sound- And finally...

Oil price Further weakness yesterday as the Chinese factory sector numbers contracted for the first time in seven months which was just what the oil bears needed. If you dont like falling through round numbers its not your morning as not only has WTI gone through $55 but Brent is below $60 this mor...
» Written by Malcolm Graham-Wood on Tuesday, December 16, 2014

Tech Talk - A gentle cough!

When I last wrote about the global supply of oil, it was back in October, as the fall in oil prices was developing. Since then the price has continued to fall, with prices now below $60 a barrel. I was doubtful back then that the price would fall as far as it has, and remain cynical that it will rem...
» Written by David Summers on Tuesday, December 16, 2014

The high cost of low-priced oil

As a consumer of oil, you may regard recent sharp declines in the world oil price as a blessing. But... If you work in the oil industry, you will not. If you work in the renewable energy industry, you will not. If you work in the energy efficiency business, you will not. If you work to address c...
» Written by Kurt Cobb on Monday, December 15, 2014

Oil price, IGas, Sundry-Shell- And finally...

Oil price Friday was another down day for a couple of reasons, economic commentators are now panicking about something different, viz is lower world economic growth the reason for the fall in the oil price. Well, its part of that funny old supply and demand equation that some of you must have been ...
» Written by Malcolm Graham-Wood on Monday, December 15, 2014

Oil producers commit mass suicide

Everyone's A Loser, Baby David Nelson, former Lehman Bros chief analys speaking on Aljazeera.com's 'Inside Story', December 11 said that at least in the short term, and possibly for the long term, OPEC has decided to commit collective suicide by setting a strategy of "keep pump...
» Written by Andrew McKillop on Monday, December 15, 2014

Oil price, Sound Oil, Range, Rockhopper, Petroceltic and finally...

Oil price Yesterday it was the turn of the IEA to keep the downward pressure on the oil price by cutting its global demand forecast for the 4th time in five months. Their number is now for a rise of 900/- b/d, down 230/- from their previous forecast/guess. They now, like Opec have a call on the car...
» Written by Malcolm Graham-Wood on Friday, December 12, 2014

Oil price, BP, Wood Group, and finally...

Oil price Yesterdays fall was primarily down to Opec who said that on their latest figures 2015 demand was likely to be the weakest in 12 years. Their new number is 28.9m b/d, down another 300/- and piles pressure on an already fragile market. Kuwait didn't actually help matters by offering the...
» Written by Malcolm Graham-Wood on Thursday, December 11, 2014

The OPEC Conundrum

When OPEC met on 27th November they decided to leave production unchanged and to not meet again until June 2015. This at a time of volatility in oil markets and plunging price that leaves many OPEC member states facing budget deficits, some large and unmanageable. In this post I take a look at the ...
» Written by Euan Mearns on Wednesday, December 10, 2014

Oil price, President, Fastnet and finally...

Oil price Another quiet day yesterday as traders told me that the rally was really only a technical bounce. A number of companies are reporting cuts to their capex budgets next year which is the first sign of production easing in the long term. The API yet again confounded the scribblers reporting...
» Written by Malcolm Graham-Wood on Wednesday, December 10, 2014

Oil price, BP, SOCO, Sundry-Bowleven-NTOG-Egdon/Union Jack- And finally...

Oil price It was move down Monday as traders told me that in an extraordinarily illiquid market buyers stood off and let the price continue to fall. There is no obvious floor at the moment but the market should expect more pain, if you are a seller that is. The CEO of KNOC said yesterday that he th...
» Written by Malcolm Graham-Wood on Tuesday, December 9, 2014

Ten reasons why a severe drop in oil prices is a problem

Not long ago, I wrote Ten Reasons Why High Oil Prices are a Problem. If high oil prices can be a problem, how can low oil prices also be a problem? In particular, how can the steep drop in oil prices we have recently been experiencing also be a problem? Let me explain some of the issues: Issue 1. ...
» Written by Gail Tverberg on Tuesday, December 9, 2014

Oil price, BP, Nighthawk, Europa, Sundry-Bowleven-Ithaca- And finally...

Oil price A mixed bunch of economic stats in the last few days but the prize must go to the non farm payrolls which coming in at 321/- trounced the whisper of 230/-. This demonstrated that the US economy seems to be pretty robust, add to that cheap gasoline and the world is your lobster Rodney... N...
» Written by Malcolm Graham-Wood on Monday, December 8, 2014

How the U.S. could fight OPEC and win (and why it won't)

OPEC has declared war on American oil production with the intention of making the country more dependent on imported oil and on oil in general. By refusing to cut production in the face of weakening world demand, the cartel has allowed oil prices to fall more than 35 percent since mid-year to levels...
» Written by Kurt Cobb on Monday, December 8, 2014

Oil price, Bowleven, Range Resources, Sundry-Halliburton/BH-Ophir- And finally...

Oil price The oil market fell yesterday on the news that I mentioned about Saudi pricing for January liftings, the interesting thing about about it was that it only fell less than a dollar, indicating that the market has already adopted a tolerance to such news. Reuters is reporting this morning th...
» Written by Malcolm Graham-Wood on Friday, December 5, 2014

The oil price is all about ONE number right now

There is only ONE number in the oil price saga that’s important to investors. It’s the same number the Saudis are tracking. That is: how much did US oil production increase in the last week. That number is released every Wednesday morning at 10:30 EST in the weekly EIA (US Energy Infor...
» Written by Keith Schaefer on Friday, December 5, 2014

Oil price, Exxon, Egdon/Europa/Union Jack, Sundry-Santos-YPF/Andes- And finally...

Oil price The differential between Brent and WTI narrowed yesterday as economic data from the USA was generally better than expected. Added to that, the EIA inventory stats showed a draw of 3.7m barrels of crude oil against forecasts of a build and WTI outperformed as US refiners utilisation increa...
» Written by Malcolm Graham-Wood on Thursday, December 4, 2014

Making sense of OPEC oil market politics

SOURCE Chatham House Saudi Arabia has always provided the adult supervision among the 12 OPEC members. The November 27th meeting in Vienna was no different as OPEC refused to cut production targets from the present 30 million barrels a day. But the reality that global oil prices have fallen more t...
» Written by Gary Hunt on Thursday, December 4, 2014

Oil price, Sundry-Shell/BP-Pantheon-Xcite-Premier Oil, And finally...

Oil price The oil price fell yesterday during the day giving back some of the gains from Tuesday as the market digested the accord between Baghdad and Erbil. Later on however the API stats came out and as is often the case the analysts were a country mile away from the actual number and WTI in part...
» Written by Malcolm Graham-Wood on Wednesday, December 3, 2014
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