Opec Archive

Energy issues have not gone away yet

[Skip to the end] It’s too early to say for sure the Mike Master’s sell off has run its course. I looked at the announced OPEC supply cut as evidence they think it has. Net supply issues remain and at least so far demand destruction has only meant a slowing growth of ...Read More

OPEC cuts production by 1.5 million barrels a day

[Skip to the end] I take this as a signal that the Saudis (and probably Russians as they just met with the Saudis) have decided to hold or raise prices and let quantity sold adjust. Fuel prices are low enough to restore growth in demand with any positive economic performance. Oct. 24, ...Read More

Re: Russia/OPEC

[Skip to the end] (email exchange) Thanks! it’s all about price setting, as previously suspected. Warren >    >   On Thu, Oct 23, 2008 at 10:09 AM, Scott wrote: >    >   Moving on, we note that Russia and OPEC held high level talks >   yesterday in Moscow as President Dmitry Medvedev met with OPEC’s >   Secretary-General, Abdallah ...Read More

OPEC to cut output

[Skip to the end] Saudis still price setters, this is just a smoke screen to disguise that. The great Mike Master’s sell off that also triggered the last leg of the financial crisis must have run it’s course in the crude markets. Price hikes may return, this time with no excess inventory ...Read More

Saudi production, September

[Skip to the end] Saudi Oil Production [top] ...Read More

Saudi Production falls slightly as Opec production falls 425,000 bpd

[Skip to the end] Production falling some but overall demand probably remains high, as reported inventories remain very low, as the GMIL (Great Master’s Inventory Liquidation) may still be a factor as more pension funds resist adding to passive commodity strategies. Several months ago a Saudi official said he though $85 was ...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

Nat gas

[Skip to the end] It was deregulated back in the 1970s, which brought out vast supplies causing utilities to substitute gas for oil and eventually break OPEC. I don’t see that kind of supply response lurking today. The Natural Gas Policy Act of 1978 In November of 1978, at the peak of ...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