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Oil Prices Running Out Of Reasons To Rally

Green Car Congress

Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. Aside from a single week in October, the US oil industry has deployed more rigs in every week dating back to June, a remarkable run that has resulted in more than 200 fresh rigs drilling for oil.

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Oil price tumbles after OPEC releases 2015 forecast

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In fact this year’s price plunge hasn’t hurt just the weaker OPEC members. Bloomberg reports that oil prices now are too low for 10 of its 12 members to balance their governments’ budgets. The exceptions, the news agency reports, are Kuwait and Qatar.

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Opinion: How Much Longer Can OPEC Hold Out?

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With announcement of a historic nuclear deal framework between Iran and six global powers: America, France, Britain, China, Russia and Germany on April2, 2015, there is a good possibility that Iranian crude oil exports will increase greatly after June 2015 when the final nuclear deal is signed. United we stand, divided we fall.

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. Prices rebounded to $60 for a few months, before falling once again below $50.

Oil 150
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The Real Reason for USA based Economic Recessions.

DIY Electric Car

There have been 5 recession since then until now and I wanted to see if Oil had anything to do with them, because deep in my heart, I knew the most recent recession was directly caused by the oil price spikes that started in 2007 and peaked in 2008. This increase in oil prices again pushed the economy into a recession.

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Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

Green Car Congress

Together, the three quotes provide a framework for analyzing Saudi options heading into the December 4 OPEC meeting in Vienna and its choices vis-à-vis the OPEC outsiders (all members but Saudi Arabia and its Gulf Arab allies, Kuwait, UAE, Qatar): reconciliation, separation, or divorce. If You’re a Free Range Oil Producer.

Oil 150
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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.