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…
Category: Crude oil analysis
Peak Affordable Oil
It is quite obvious that high oil prices in the last 3-4 years Fig 1: WTI spot prices to 23/1/2015 http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=rwtc&f=w have reduced demand for oil, as shown in this IEA graph…
World on drip of unconventional oil
Currently lower oil prices due to a combination of increasing oil supplies and subdued demand come at a high cost to the environment and the climate. Additional oil supplies are exclusively from…
US crude imports from Non-OPEC countries peaked 10 years before tight oil boom
In part 3 of this series on the impact of US tight oil, we look at US crude oil imports from Non-OPEC countries. Excluding Canada – which is a special case due…
US oil dependency on Middle East has hardly changed since 2007
This is part 2 of a series of articles on how US tight oil has impacted on oil markets The following graph shows US petroleum imports from OPEC countries starting in 1960….
US oil consumption did not increase as result of US tight oil boom
In part 1 of a series of articles on the impact of US tight (shale) oil we examine the impact on US oil consumption. Fig 1: US crude oil production with tight…
US shale oil growth covers up production drop in rest-of-world
We use the period starting with January 2010 when crude production had come back to 2005 levels after the exceptional year of 2009 Fig 1: US crude oil vs crude oil in…
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….
Ex-Saudi Aramco geologist Dr Husseini predicts oil price spikes of USD 140 by 2016-17: graphs
In an interview with ASPO USA in January 2014 Ex-Saudi Aramco geologist Dr. Sadad-Al-Husseini predicted oil price spikes of $140 by 2016/17. This post shows some graphs explaining why this could happen….
World crude production 2013 without shale oil is back to 2005 levels
Unnoticed by the mainstream media, US shale oil covers up a recent decline of crude oil production of 1.5 mb/d in the rest of world (using data up to Oct 2013). This…