Oil Archive

Crude oil demand

[Skip to the end] World demand still projected to increase. Crude Oil Rises From 13-Month Low on European Bank Rescue Plan by Gavin Evans The International Energy Agency, an adviser to 28 nations, on Oct. 10 cut its forecast for global oil demand for 2008 to 0.5 percent, the lowest since 1993. ...Read More

US gasoline demand

[Skip to the end] While demand has been falling, it’s only down about 500,000 bpd year over year. World demand is growing faster than that and is still forecast to grow by about 1 million bpd in 2009, last I heard. This means the demand for Saudi crude will stay more than ...Read More

MoneyBlog: Saudis cut production?

[Skip to the end] The Saudis will ‘meet demand’ but at their price. So the question remains as to what their price is. With their production (to meet demand) nearing their max capacity, seems they want higher prices to try to cool demand so as not to lose control of price on ...Read More

WSJ: about Mike

[Skip to the end] Report Faults Speculators For Volatility in Oil Prices by Iathe Jeanne Dugan As crude-oil prices sink back toward $100 a barrel, dueling reports soon will be released weighing in on whether, and how much, investors are to blame for the gyrations in oil prices. Washington lawmakers and a ...Read More

2008-08-12 Saudi Oil Output

[Skip to the end] Saudi Oil Output The Saudi production increase tells me world demand was up, even at the higher prices. Yes, US demand was down 800,000 bpd vs last year, and yes other world demand may fall. Only when demand for Saudi output falls sufficiently will they be dislodged from ...Read More

Crude and the USD

[Skip to the end] My current assessment is that the crude sell-off has caused the USD’s strength. Lower crude prices make the USD ‘harder to get’ as oil producers get fewer USD for the same volume of crude (and product) exports to the US. Likewise, this also brings down the US trade ...Read More

Re: Crude oil pricing

[Skip to the end] (an email exchange) >    >   On Thu, Aug 7, 2008 at 7:15 AM, Scott wrote: >    >   crude moves further in backwardation. >    Right, indicating futures buying subsiding and inventories not above desired levels for commerce. >    >   CL vs brent now 160 over vs 120 under 2 weeks ago! >    ...Read More

Re: Oil prices

[Skip to the end] (an email exchange) >    >   On Wed, Aug 6, 2008 at 4:45 PM, Craig wrote: >    >   It seems that the ‘right’ price for them to set oil at is not >   necessarily the highest price possible. >    All the 911 passports were Saudi; so, they might have other agendas. >    ...Read More

Q&A: Oil prices

[Skip to the end] Russel asks: Any reason why the Saudi’s are allowing the price of oil to slide? Just a guess. The futures liquidations were large enough such that holding spot prices up and letting futures free fall would have made it obvious the Saudis are price setter. There also could ...Read More

Reuters: SemGroup

[Skip to the end] Looks like it was a likely substantial contributor to the last run up and the subsequent quick sell off. ‘Demand destruction’ isn’t yet anywhere near enough to dislodge the Saudis from setting price as swing producer: REFILE-SemGroup a small factor in oil price drop -experts by Matthew Robinson ...Read More