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The Saudi Dilemma: To Cut Or Not To Cut

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To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. million barrels daily, including from Russia, to reverse the free fall of oil prices. Saudi Arabia cannot afford another slump in oil prices,” he warns. “It Kemp agrees.

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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 In contrast to 2022 when the OECD led the expansion, non-OECD economies are set to account for nearly 80% of growth next year. mb/d in 2022 to 2.2 mb/d in 2022 and 1.8

Oil 210
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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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Emerging economies accounted for all of the net growth, with OECD demand falling for the third time in the last four years, led by a sharp decline in Japan. in the emerging economies. Brent oil prices were on average 40% higher than 2010 and exceeded $100 a barrel for the first time ever; at $111.26/bbl, globally, and 8.4%

Coal 261
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Opinion: How Much Longer Can OPEC Hold Out?

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Simply put, the world has too much oil at the moment which has resulted in the reduction of price levels from approximately $100 to $50 a barrel, and OPEC (as well as US shale producers) has a major role to play in this supply glut. Iran Nuclear Deal: A warning sign for OPEC? Nigeria’s dilemma.

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Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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savings stimulated by high oil prices led to a decrease of 3% in CO 2 emissions in the European Union and of 2% in both the United States and Japan. tonnes per capita, despite a decline due to the recession in 2008-2009, high oil prices and an increased share of natural gas. Weak economic conditions, a mild winter, and energy.

2011 236
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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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While DoD and the services will have access to the wholesale fuel supplies they require, the purchase price may be uncomfortably high. As fuel consumers, DoD and the services have only one effective option to deal with high petroleum prices: to reduce use of petroleum fuels overall. Could oil production peak before 2030?

Oil-Sands 225
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Opinion: Is Russia Plotting To Bring Down OPEC?

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Energy is the foundation of Russia, its economy, its government, and its political system. Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ).

Russia 150