A few snippets from a conference call Ed Morse and his team at Citi held today on the decline in oil prices.
Posts Tagged ‘Saudi Arabia’
By John Kingston | October 16, 2014 12:37 PM Comments (0)
By Stuart Elliott | October 14, 2014 10:30 AM Comments (1)
With crude prices at near four-year lows, the last thing the world’s key oil producers want to hear is that demand growth is set to weaken yet further.
But that was the message from the International Energy Agency in its latest monthly oil market report published today.
By John Kingston | October 13, 2014 10:24 AM Comments (3)
Phil Verleger has a long memory.
Phil is a veteran energy economist, and he and I have been emailing each other over the course of the last week, recalling the oil price collapse of the mid 1980’s. As he noted, there are a dwindling number of of people still in the industry who remember that. But I had just joined Platts when the great collapse of 1985-1986 took place. On April 1, 1986, WTI plunged to less than $10 and no, it wasn’t an April Fool’s joke. (It remains the only day in the history of the WTI contract, launched in 1983, that the price ever “printed” a number less than double digits. It has never settled at less than $10.)
In his latest weekly report, Phil recalls that fall, as well as the collapse of 1998-1999. While WTI prices didn’t drop below the $10 level in the late 90’s, the levels of that period, after adjusting for inflation, were the lowest in history.
By Elizabeth Bassett | October 6, 2014 03:03 PM Comments (1)
Now that the global crude oil markets are in the middle of a sort of upheaval, it seems increasingly harder to have clear thoughts or emotions about what the future holds. There are so many nuances to the slowly emerging new order that it can be difficult to find underlying issues (something we strive to do every month with this feature) or take a firm stand on how you think things will shake out in the future (see our No. 2 pick).
In the October version of The Oil Big Five, we have some officials trying to establish their region’s role in the future, even as everything is uncertain. We also have price movements and crude movements, and we’re hoping this all moves you to leave us a comment. Leave us your thoughts below. What do you think of these topics, and what did we leave off that’s a big issue to you? Or share your ideas on Twitter with the hashtag #oilbig5. Read what our oil editors and analysts nominated as the top issues for the moment, and we look forward to featuring your comments next week.
By Margaret McQuaile | September 19, 2014 04:32 AM Comments (0)
Oil prices have found some support from the potential for lower production from OPEC next year, as suggested by the group’s secretary general, Abdalla el-Badri.
Speaking to Platts by telephone from Vienna earlier this week, Badri was at pains to stress that he was not predicting the outcome of OPEC’s next scheduled meeting on November 27. Nor was he talking about a 500,000 b/d reduction in the group’s current 30 million b/d ceiling. He was, he said, talking about an outlook that pegged the call on OPEC crude at 29.5 million b/d. He was not talking about a decision by OPEC.
By Stuart Elliott | August 12, 2014 10:37 AM Comments (0)
The International Energy Agency on Tuesday cut its oil demand growth forecast for 2014 for a number of reasons, not the least of which is a weaker global economic outlook than previously thought and lower oil supplies in the second quarter.
But even though the world won’t need as much oil this year as IEA earlier thought, that doesn’t mean it won’t need more crude from OPEC.
By Tamsin Carlisle | August 11, 2014 12:01 AM Comments (0)
As the old saying goes, you can’t tell the players without a scorecard. So in this week’s Oilgram News column New Frontiers, Tamsin Carlisle does just that, skipping through the Middle East to summarize the hot battles, and the cold ones, impacting oil across the region.
By Stuart Elliott | July 11, 2014 11:43 AM Comments (0)
The International Energy Agency on Friday gave its first taste of how oil markets might look in 2015, and on first reading it looks as though they should be pretty well supplied throughout the course of the year.
The agency’s confidence that non-OPEC supply can meet almost all of the projected growth in demand next year means that OPEC itself won’t need to produce, on average, any more than its current 30 million b/d ceiling. Read the rest of this entry »
By Elizabeth Bassett | July 8, 2014 03:49 PM Comments (2)
You’ve read about the big topics our Platts experts think are most interesting for July, and now we want to turn our attention to our readers.
In our monthly The Oil Big Five feature, we poll our global oil experts for what they consider the most pressing or interesting aspects of the oil industry at the moment. We follow each post by rounding up some of the comments, and below you can see (in no particular order) some of the reactions we had from our readers, both on the blog as well as on social media.