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Opinion: Oil Price War May Benefit both US Shale and Saudi Arabia

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Even as financial commentators on CNBC are starting to come around to the idea of a bottom in oil prices, the key question for US oil producers remains one of timing. How long will the oil price slump last? After the oil price crash in 1985, it took almost twenty years for prices to revert to previous levels.

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Opinion: Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry

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Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.

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IEA: Global CO2 emissions up by 1.0 Gt (3.2%) in 2011 to record high

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India’s emissions rose by 140 Mt, or 8.7%, moving it ahead of Russia to become the fourth largest emitter behind China, the United States, and the European Union. CO 2 emissions in the EU in 2011 were lower by 69 Mt, or 1.9%, as sluggish economic growth cut industrial production and a relatively warm winter reduced heating needs.

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IEA World Energy Outlook 2013 sees CO2 emissions rising by 20% to 2035; oil use on upward trend

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High oil prices, persistent differences in gas and electricity prices between regions and rising energy import bills in many countries focus attention on the relationship between energy and the broader economy. However, this does not imply a new era of oil abundance, the report cautions.

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IHS Markit: global oil production now expected to be cut by as much as 17 MMb/d in Q2 2020; the Great Shut-In

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The second quarter of 2020 will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, according to IHS Markit. Logistical factors are offtake demand, transport options, and oil storage availability.

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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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Following nearly two years of declines, observed global oil inventories increased by 77 mb in April. OECD industry stocks also rose, by 42.5 At 2,669 mb, OECD industry stocks were nevertheless 290.3 Higher oil prices and a weaker economic outlook continue to temper IEA’s oil demand growth expectations.

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$67 Oil Has All The Majors Converging in Argentina

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Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices.

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