article thumbnail

Eni report: global oil reserves and oil production up in 2018 due to US

Green Car Congress

Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. percent of GDP in 2014.

Russia 150
article thumbnail

Gas Prices Rising, But Not For The Reasons You May Think

Green Car Reports

Over the past week or so, we’ve seen the average price of gasoline hit $3.60 But while the Syrian uprising and political tensions between Iran and the West over its nuclear program are playing a small part in increasing the price you pay.

Iran 126
article thumbnail

Saudis Expand Price War Downstream

Green Car Congress

The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. The gross refining margin is nothing but the difference between the value of the refined products and price of the crude oil. In case of Saudi Arabia, the price of crude oil would be extremely low. In fact, at $5.60

article thumbnail

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

However, OPEC has been in the line of fire from the western world in light of its stance of not reducing the production levels of its member nations (excluding Iran). With the decline of average annual crude prices, OPEC earned around $730 billion in net oil export revenues in 2014 (Source: EIA), a big decline of 11% from its previous year.

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. by Nick Cunningham of Oilprice.com.

article thumbnail

Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

Green Car Congress

Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests. Only four of the current major oil producing countries (more than 1 mbpd of production capacity) face a net reduction of their production capacity by 2020: Norway, the United Kingdom, Mexico, and Iran.

Oil 261