“There is a need for an increase to replace the loss from Libya,” the delegate said. “Oil prices are too high; $100 oil is scaring people.” Saudi Arabian Oil Minister Ali al-Naimi waded into the debate, noting that OPEC is ready to raise production to meet any increased demand.
First, I’ve been pretty quiet on the mideast goings ons. I’ve been watching intently from the time Egypt made headlines, and have yet to see anything of particular consequence to us, beyond oil prices. I’ve yet to come up with any channel to world aggregate demand, inflation, etc. apart from oil prices. Seems all moves […]
Right, as swing producer/monopolist that’s what they necessarily do- set price and let quantity adjust. But if quantity demanded exceeds their ability to pump they lose control of price on the upside. > > (email exchange) > > On Thu, Feb 24, 2011 at 9:43 AM, Greg wrote: > > Just like you say about the Saudi’s….. > […]
[Skip to the end] This would be a game changer if they do it and pump all that: BAGHDAD Petroleumworld.com, Dec 14, 2009 Iraq struck deals with several foreign energy giants to nearly triple its oil output in an auction that ended on Saturday, as the country bids to become one of the world’s biggest […]
[Skip to the end] Looks like the Saudis are back in the driver’s seat regarding price. UE Rate->FF Rate”> [top]
[Skip to the end] Looks like demand is steady at current prices which seem to be where they currently want prices to be.
[Skip to the end] > > (email exchange) > > Warren, Seems like we’ve seen a tiny repeat of what happened during > the ( Mosler coined) Mike Masters inventory liquidation last summer. > That is, crude oil drops and takes everything else down with it all driven > by the fear of increased scrutiny regulation on commodity speculation. > Do […]
[Skip to the end] Saudis will let production fall to levels consistent with their price target. That’s what swing producers do. Unless demand drops so far they can’t let output fall further. So far independent world demand forecasts don’t show that happening. [top]