Swing Producer Archive

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

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

Oil comments

Iraqi Oil Minister Sees No Output Change from OPEC (Reuters) Iraq’s oil minister Hussain al-Shahristani said on Thursday there was no sign of any shortage of oil in international markets and he did not expect OPEC to change its output levels at a meeting this week. Saudis might like letting prices sag ...Read More

2008-01-21 Update

Major themes intact: weak economy higher prices Weakness: US demand soft but supported by exports. US export strength resulting from non resident ‘desires’ to reduce the rate of accumulation of $US net financial assets. This driving force is ideologically entrenched and not likely to reverse in the next several months. In previous ...Read More