Empty roads, grounded aircraft, falling tourist and international student numbers, plunging car sales, empty super market shelves, disrupted supply chains… Fig 1: Empty roads in Wuhan in February 2020 China Car Sales…
Tag: IEA
Will Australia have a strategic oil reserve before it is too late? (part 2)
In part 1 we talked about what action the government is taking to bring Australia back to the IEA 90 days oil stock requirement. What was done so far This website contains…
Australia’s oil stock coverage on record low
In prime time evening news of the Australian public broadcaster ABC TV, on 21 June 2017, the business presenter Alan Kohler tried to explain a fall in oil prices by “record oil…
China’s oil peak 45 years after the US peak
Fig 1: Oil crisis in China like in 2005? No. By order: Free roads for G20 in Hangzhou https://www.theguardian.com/world/2016/aug/31/china-hangzhou-propaganda-facelift-g20-summit Strategically published only days before the G20 summit the Wall Street Journal had…
IEA in Davos 2016 warns of higher oil prices in a few years’ time
World Economic Forum The Transformation of Energy Fig 1: WEF energy panellists 22/1/2016 From right to left: moderator Daniel Yergin (IHS), Fatih Birol (IEA), Hiroaki Nakanishi (Hitachi), Ignacio Sánchez (Iberdrola), Eric Xin…
IEA report: US shale oil growth practically zero in 2017
The International Energy Agency’s Medium Term Oil Market Report 2015 included an interesting graph showing changes in US and Russian oil production for the next 5 years: IEA MTOMR February 2015 Fig…
Free oil! Next stop free oil crunch
Buy 1 barrel of oil for $100, get one barrel free!That makes $50 a barrel. Looks like a sale. Hurry before it ends. Spare a thought for the poor oil industry losing…
IEA report implies US crude production may start to peak 2016
The Medium Term Oil Market Report of the International Energy Agency (IEA, Paris), published in June 2014, contains a graph which implies that US crude production will start to peak in 2016….
Save, baby, save – in a hurry
7 years after crude oil production started to peak in 2005, desperate attempts are being made to continue business as usual as the US and the International Energy Agency decided to release…
Iran crude oil production to decline by 700 kbd by 2015; budget neutral oil price $130
The new IEA Medium Term Oil Market Report 2010 http://www.iea.org/W/bookshop/add.aspx?id=397 estimates Iran’s oil production capacity will decline by 700 Kb/d by 2015. The above graph shows the change of crude oil capacities…