Oil Archive

May 2008 Saudi oil output up

[Skip to the end] Saudi Oil Production This does not bode well for oil prices. Increased Saudi output means demand has increased at current prices, and the Saudis (and Russians, etc.) remain firmly positioned as ‘price setter’. The Saudis continue to have the only excess supply, with about 1.5 million bpd excess ...Read More

Reuters: Saudi Arabia Pumps Extra Oil to Match Demand

[Skip to the end] Saudi Pumps More Oil (Reuters) Top oil exporter Saudi Arabia has boosted supply to help meet the world’s need for fuel and may further increase output later if needed, a senior Gulf OPEC source said on Wednesday. Yes, they set price and then sell all that’s demanded at ...Read More

Reuters: Congress passes bill to sue OPEC for antitrust violations

[Skip to the end] Didn’t know this would be enforceable? House passes bill to sue OPEC over oil prices by Tom Doggett (Reuters) The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but ...Read More

Saudi Oil Production

Saudi Oil Production Still in full control of price. ...Read More

Re: Sauding spending

(an email exchange) > >   On Mon, Apr 21, 2008 at 9:23 AM, Scott wrote: > >   Backed by high oil prices, Saudi Arabia is embarking >   on a massive spending program focused predominantly >   on infrastructure projects. The value of announced >   investment projects so far is $862 billion. > Thanks, ...Read More

Changing Tides

I’ve been thinking that when the Fed turns its attention to inflation it will find itself way behind that curve, which it is by any mainstream standard, and that the curve then gets negative from a year or two out as markets anticipate rate hikes followed by falling inflation and rate cuts. ...Read More

Re: Pension fund passive commodity strategies

(an interoffice email) > >   On Wed, Apr 9, 2008 at 4:05 PM, Pat wrote: > >   What about the continued allocation increases from non-end >   users of commodities? From what I’ve read allocations by >   pensions have gone higher even with the rising prices as well >   as a whole host ...Read More

Bloomberg: Russian Oil Fund Should Be Tapped for Pensions

While relatively small, investing in pensions vs. ‘spending’ reduces aggregate demand. And ‘liquidity’ for the banking sector can readily be increased independently of these funds as needed. Russian Oil Fund Should Be Tapped for Pensions, Kudrin Says by Maria Levitov and Alex Nicholson (Bloomberg) Russia’s Finance Minister Alexei Kudrin said the country’s ...Read More

Saudi Oil Production firm at current prices

Saudi Oil Production Even with crude prices now well over $100 there’s no sign of demand for Saudi crude falling off. I expect they will continue to act as swing producer, setting price and letting quantity adjust, until a large enough supply response forces their production down below 7 million bpd. ...Read More

Central bank debate: Is it inflation or deflation?

Here’s how the inflation can persist indefinitely: In addition to the India/China type story for resource demand, this time around nominal demand for commodities is also coming from our own pension funds who are shifting more of their financial assets to passive commodity strategies. Pension funds contributions have traditionally been invested primarily ...Read More