The International Energy Agency’s December Oil Market Report considers the market reaction to last month’s interim agreement signed by Iran and the P5+1 nations. The OECD oil market watchdog says the oil market mostly took the deal in stride and numerous other factors are exerting greater pressure on oil price behavior than the six-month agreement… Keep reading →
Oil Market
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We will never sell or share your information without your consent. See our privacy policy.A lawyer that represents utilities argues in an editorial the EPA’s Cross-state Air Pollution Rule enacted in 2011 causes lesser polluting states to subsidize some of the pollution reduction in states that emit greater volumes of harmful pollutants. The lesser polluting states also tend to have higher electricity costs and would thus be unfairly impacted… Keep reading →
The US Defense Logistics Agency yesterday announced a slew of major contracts for the purchase of jet fuel. The contracts are valid through April 30th 2015 and the money will come from fiscal 2014 defense working capital funds. Fifteen different companies – ranging from the world’s largest international oil companies including supermajors ExxonMobil and Shell… Keep reading →
The global oil market is a strange place indeed and the surge in US crude production coupled with outdated regulations are creating counterintuitive trade dynamics. A majority of US crude imports come from Canada – 2.5 million barrels per day in September according to EIA data – but now the US also exports more crude… Keep reading →
Apparently very little, according to traders and analysts polled by Bloomberg last week. The poll of 24 oil market observers had 22 predict Opec members would leave the current 30 million barrel per day production limit unchanged when they meet in Vienna on December 4th. Much has been made of the light, sweet barrels pushed… Keep reading →
We are at a transformational moment in energy history. Just a few years ago, all energy projections forecast increased imports, increased scarcity, and increased natural gas prices. Today, we’ve shifted from scarcity to abundance. U.S. oil production has increased by 2.5 million barrels per day (B/D) since 2010. This year, the United States overtook Saudi… Keep reading →
The oil producers’ cartel will discuss cutting back output at its meeting this Wednesday in Vienna. Iraq’s output continues increasing, Iran could export more barrels as a result of last week’s nuclear deal and non-Opec production has been strong with US output soaring – all bullish supply factors that could put downward pressure on prices… Keep reading →
Energy Quote of the Day: ‘Best Way to Boil a Frog is to Raise the Temperature Slowly’
By Jared AndersonLeave it to good old T. Boone Pickens to compare frog boiling with the US-Opec strategic relationship. Pickens today posted a piece on LinkedIn promoting his ‘Pickens Plan’ – a multi-pronged approach to eliminating US oil imports – that harkened back to President Nixon’s promise of US energy independence. In 1973, President Nixon said: “Let… Keep reading →
Timing of Iraq’s Oil Production Target Cuts No Coincidence
By Jared AndersonAmid much hype and excitement, international oil companies that had been chomping at the bit for years to get into Iraq finally got their chance in 2009 when the country hosted its first post-Saddam Hussain oil field development bid rounds. After much confusion and a generally failed first bid round, the second resulted in several… Keep reading →