Oil Archive

Reuters: Lehman cuts oil demand forecast

[Skip to the end] Lehman cuts oil demand forecast by Richard Valdmanis (Reuters) Investment bank Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) said Wednesday it slashed its forecast for 2008 world oil demand growth due to a steeper-than-expected slowdown in energy consumption in the United States and other OECD countries. Lehman ...Read More

Crude sell off

[Skip to the end] Seems like a sale ahead of possible Congressional action to limit ‘speculation’. Not sure how big the dip might be, but yet another buying op as the choice remains – pay the Saudis their asking price or shut the lights off. The price only goes down if the ...Read More

2008-07-07 Saudi Oil Production

[Skip to the end] Saudi Oil Production Demand increasing even as they hike prices. Good luck to us! [top] ...Read More

US Energy Consumption as % of GDP

US Energy Consumption as Percent of GDP Interesting how the price hikes get us back to the 1970s ratio. One of the arguments that it was different this time around was that crude is a lower percentage of GDP than it was then. The pass-throughs to the rest of the price structure ...Read More

Bloomberg: Saudi Arabia not willing to see crude at discount

[Skip to the end] Saudi Arabia Not Willing to See Crude at Discount, Naimi Says by Fred Pals (Bloomberg) Saudi Arabia, the world’s largest oil exporter, is not willing to sell crude oil at a discount to the normal market price for its grades of oil, the kingdom’s oil minister said. The ...Read More

Saudi Iran OIL Update

[Skip to the end] Saudis say they will pump more if markets want more. They post prices to their refiners and then fill all orders at their posted prices. Their posted prices and spreads have also been moving in their favor lately. Can it be more clear that the Saudis are ‘price ...Read More

Re: Demand destruction

[Skip to the end] (an email exchange) On Thu, Jun 19, 2008 at 10:38 PM, Russell wrote: >    >    >   SUV sales may be falling off the cliff in the US, but in China, they are red hot. >   Sales of the large vehicles in China rose by 40% in the first four months ...Read More

Re: Some crude facts

[Skip to the end] (an email exchange) On Wed, Jun 18, 2008 at 4:24 PM, Bob wrote: >    >   Warren, >    >   Do you have any view as to why the Saudi feel a high current oil price is in >   their best long-term interests? Not sure it is. They may have a political agenda ...Read More

Competing for fuel

[Skip to the end] Here’s what I see happening at the macro level: The US, for all practical purposes, was able to successfully compete for the world’s fuel supply such that nearly everyone in the US could afford to drive. Now other populations/regions of the world where almost no one could afford ...Read More

Re: Roach-Stagflation

[Skip to the end] (an email exchange) A few of things: First, the rising wages in the 70’s led to bracket creep that put the budget in surplus in 1979 and resulted in a severe recession soon after. This time around it is unlikely the inflation takes much of a dent out ...Read More