Big changes are taking place in the oil industry. With increased global demand and declining supply, easy oil is not so easy anymore.
January 22nd, 2010 | Marin Katusa | 1 comment | ContinuedAll Posts Tagged With: "oil production"
OPEC Agrees Not to Cut Oil Production Until it Meets in May
OPEC agreed not to cut oil production again until it meets later in May. That’s a bit misleading, though. OPEC said it wouldn’t cut production even though global oil inventories are high. But the friendly cartel members admitted they still haven’t cut production down to the levels they agreed on with the previous cut. Thus the nature of the cartel. It’s in everyone’s interest to cheat just a little bit by over-producing to make more money…
March 16th, 2009 | Dan Denning | 0 comments | Continued
The Coming Oil Back Draft
During the big run up to $150, national oil companies were cash cows. But it now appears that little of the oil bounty was reinvested in new production or even maintenance of existing production. So what do we have now? We have a situation here. A situation where the falling oil price is leading a big reduction in oil production. This will match, for a while reduced demand for oil. But we also think it’s baiting the trap for a huge blowback in oil prices. And the spark for that could be geopolitical…
January 19th, 2009 | Dan Denning | 1 comment | Continued
Oil Prices Under $70
One other reason the stock probably fell is that the company studiously avoided saying anything about global oil prices or a global recession. Oil futures were down almost US$6 in New York trading to close at $69.85. That’s the first time oil’s closed below US$70 since August 23rd of 2007. Is Woodside a Crusoe stock? Well, it depends on what your long-term view of energy is, doesn’t it?…
October 17th, 2008 | Dan Denning | 0 comments | Continued
Where Will Future Oil Production Come From and How Can Investors Profit Today?
If you can say with assurance why oil prices are US$127, you are more assured than most. OPEC believes oil strength is really just U.S. dollar weakness. A stronger dollar means lower oil prices, and probably lower commodity prices in general. There are other theories that seek to explain the high oil price, including a “fear premium,” oil as an inflation hedge, and pure speculation by professional traders.
May 22nd, 2008 | Dan Denning | 0 comments | Continued
Oil Prices Has The Mogambo Guru Sticking His Thumb in His Eye
Just when I thought I had completely lost my sense of humor, I ran across a MoneyNews.com article titled “Lehman Bros. Report: Oil Bust in the Cards”. Hahahaha! Thanks, Lehman!! Hahaha! I needed the laugh! Perhaps part of the humor is that this comes at the same time as the price of gasoline went up 3 cents to another record high of an average of $3.70 a gallon.
May 20th, 2008 | Mogambo Guru | 2 comments | Continued
Oil Has Hit a New Record High
Oil hit a new record yesterday. At $114 it has never been more expensive. This is another way of saying that Americans and Englishmen have to work longer to buy a gallon…
April 17th, 2008 | Bill Bonner | 0 comments | Continued
