Peak Oil Notes – Sep 2
The last ten days have been among the most volatile for the oil markets since Iraq invaded Kuwait 25 years ago.
The last ten days have been among the most volatile for the oil markets since Iraq invaded Kuwait 25 years ago.
U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated.
Consumption peaked 7 years after the production peak and is falling now in sync with production.
The great oil price slide of 2014-15 is taking on epic proportions.
If prices stay low for the next three years, the global oil industry and the countries it finances will be out $4.4 trillion in revenues.
A weekly review including Oil and the Global Economy, The Middle East & North Africa, China, Russia/Ukraine, The Briefs
Painful as the short-term consequences of the current price rout may be, the long-term ones are likely to prove far more significant.
2014 was one of the worst in over six decades for major new oil discoveries, even though oil prices were high for most of the year.
A wave of pessimism is engulfing the oil industry as prices show no signs of rebounding from multi-month lows.
A weekly review including: Oil and the Global Economy, The Middle East & North Africa, China, Russia/Ukraine, The Briefs.
Much of the news that will eventually move oil prices came on the international front this week.
A weekly review including Oil and the Global Economy, The Middle East & North Africa, China, Russia/Ukraine, The Briefs