OPEC

This tag is associated with 195 posts

Perfect Storm For Oil Started On Schedule And Continues To Build

By David Haggith, The Great Recession Blog The perfect storm I predicted against the price of oil in the Ides of March has not fully developed, but all the forces I spoke of are continuing to build. The balmy days that prevailed for oil prices in early March have gone away, replaced by a downdraft that is once again suppressing prices … Continue reading

The Empire Of The Petrodollar And The Price Of Refusing It

Ahead of the meeting of OPEC and non-OPEC oil producers scheduled for April 17 in Qatar in a bid to stabilize plummeting crude prices, let’s have a look at oil’s financial heart, the petrodollar system, and the unfortunate position of those member states who tried to break free of it. OPEC members and key oil … Continue reading

Saudi Arabia Loses Oil Market Share In Key Countries

The world’s largest crude exporter, Saudi Arabia has lost its leading position in nine of the 15 top markets in the past three years reports the Financial Times citing data from energy consultancy group FGE. According to the analysis, the kingdom lost ground in China, South Africa and the US between 2013 and 2015, despite … Continue reading

OPEC’s Doha Dilemma: 3MB/D U.S. Lock In?

By Eugen von Böhm-Bawerk Another month, another flight to Hamad international airport for 17th April after initial agreement to hold ‘upstream horses’ in February 2016. While it’s no doubt great fun getting back into the OPEC ‘masters of the oil universe’ routine, second time round, the stakes are rapidly rising in Doha given another supposed ‘freeze’ … Continue reading

Latin America – Seven Ugly Sisters In Deep Political Trouble

By Eugen von Böhm-Bawerk Get beyond endless Latin American headlines burning column inches and you come to far broader strategic conclusion: The seven ‘ugly Latino sisters’, namely Brazil, Venezuela, Ecuador, Bolivia, Colombia, Mexico and Argentina are all deep political trouble from collapsed benchmark prices. It’s merely a case of who’s in more advanced states of political … Continue reading

OPEC And Russia Oil Production Freeze Is Meaningless Gesture, IEA Says

A deal among some OPEC producers and Russia to freeze production is perhaps “meaningless” as Saudi Arabia is the only country with the ability to increase output, according to a senior International Energy Agency (IEA) executive. Brent crude futures are up more than 50% from a 12-year low near $27 a barrel hit early this … Continue reading

Irresistible Iran: Europe, Asia Line Up To Invest

By James Eugene Foreign investors and nations have been actively exploring business and investment opportunities with Iran after economic sanctions were lifted from the Middle Eastern nation in January. Asia Over the past few months, there has been a sharp increase in the number of Asian countries that have ratified investment agreements with Iran. Japan managed to … Continue reading

Is Saudi Arabia Running Out Of Gas?

By Phil Butler, New Eastern Outlook Saudi Arabia’s ever increasingly hostile stance toward neighbors may not be as secular as some have suggested. Given the nature of the country’s oil reserves, and almost unlimited production for decades, it’s possible the Saudis could simply be running out of gas. Here’s a candid look at the Saudi situation, one … Continue reading

Oil Production Freeze Meeting May Be Postponed, As Iran Won’t Play Ball

As things stand today, Iran has no interest in participating in a production freeze agreement led by Russia and Saudi Arabia, Reuters reports. This threatens to delay the meeting of the world’s biggest crude producers scheduled for March 20 in Moscow. Last week, Nigeria’s Oil Minister Emmanuel Kachikwu said the meeting would take place in … Continue reading

The Coming Collapse Of Saudi Arabia

By Nick Giambruno, Casey Research They met in secret to plan a devastating attack… Two powerful men, colluding at a palace in the Middle East. In September 2014, U.S. Secretary of State John Kerry flew to Saudi Arabia. He was there to meet with King Abdullah, the country’s ruler and one of the richest men … Continue reading

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