Category Archives: Oil

"The 15 percent drop in oil prices since the end of June was the longest and steepest decline so far in 2009. Prices had been rising since February, more than doubling from lows hit near $33,as traders started to price … Continue reading →

"Downgrading the forecast, IEA said the oil demand would rise 0.6% or 540,000 barrels per day on average during 2008-2014. In its latest Medium-Term Oil Market Report, the Paris based agency said the oil demand would rise to 89 million … Continue reading →

"It's a warm spring day in Vienna, and OPEC delegates meeting in the former imperial capital seem more relaxed than they have been in months. There is less behind-the-scenes skullduggery than usual. Instead, it's an opportunity to hold leisurely dinners … Continue reading →

El presidente has decided to give GM and Chrysler money from the TARP.  They have until March to re-structure enough to survive as distinct business entities.  If they can’t do that they have to re-pay the money.  Oh?  With what?  … Continue reading →

"Crude-oil futures soared above $49 a barrel Thursday, propelled by sharp weakness in the dollar and expectations that the Organization of Petroleum Exporting Countries will deliver a significant production cut next week. Crude for January delivery rose $4.46, or 10.2%, … Continue reading →

The price per barrel is now approaching $42.  We should consider the implications.  If the price of crude continues to fall, then at some point there will be widespread shut-downs of production and exploration. OPEC will meet soon to seek … Continue reading →

By now, those of you who are interested have noted that the price of crude dipped balow $50/barrel today. You may also have noticed that I have thought for some time that much of the price range that was achieved … Continue reading →

"Even the Saudis, who argued for keeping the markets well supplied at the last OPEC meeting, seemed to have been struck by the speed of the price drop. When prices spiked this summer, the cartel’s leaders attributed the jump to … Continue reading →

No comment needed, but….  Seems like this is a predicted Black Swan.  Musta been dumb luck on the "Casenova the Turkey" model. pl

Our brother Fabius, who evidently writes about oil was courteous enough to inform me that he has posted the following in his blog.  I thank him for his help in explaining this complex phenomenon.  So many have sought to help … Continue reading →