Remove 2015 Remove Iraq Remove Oil Prices Remove Supplies
article thumbnail

The 5 Countries That Could Push Oil Prices Up

Green Car Congress

Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. The most near-term supply risk comes from Iraq.

article thumbnail

Opinion: The Current Oil Price Rally Is Reaching Its Limits

Green Car Congress

Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. million barrels per day (mb/d) in April 2015.

article thumbnail

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Iraq’s Issues.

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ). Russia supplied about 30 percent (146.6 in 2015 and 2016 respectively).

Russia 150
article thumbnail

Day Of Reckoning For US Shale Will Have To Wait

Green Car Congress

Kicking the can means that production may not fall as fast as expected, which will mean oil prices may not begin to stage a rally as quickly as some had hoped. Moody’s Investors Service sees the contraction as too little to make a significant dent in the global supply gut. rig count has declined by more than half, U.S.

article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. percent in 1H 2015. percent.

article thumbnail

Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

Green Car Congress

One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.

Oil 150