The world has returned to business as usual after the Saudis assured oil markets that production will be back soon and as oil prices have returned to pre-attack levels and even lower,…
Tag: Saudi Arabia
The Attacks on Abqaiq and Peak oil in Ghawar
Fig 1: The attackers hit at Fajr prayer time https://www.youtube.com/watch?v=sw_IwRPUZOQ When the late Houston based investment banker Matt Simmons wrote his 2005 book “Twilight in the desert, the coming Saudi oil shock…
Saudi Arabia was supposed to pump almost 14 mb/d in 2018
Here we go again. Another US President asks Saudi Arabia to pump more oil, despite the so-called US shale oil revolution. Fig 1: Is a tweet enough to make Saudi Arabia open…
OPEC’s 2017 production cuts: a confusing numbers game (part 2)
In this second part we look at OPEC production cuts for January 2017 in the context of historical production using JODI data. OPEC is very fond of JODI, the Joint Oil Data…
Saudi Arabia’s fiscal break-even oil price to be around $US 100 mark for the foreseeable future
The latest IMF Article IV consultation report on Saudi Arabia was published on 9 September 2015. http://www.imf.org/external/country/sau/ Extract: Government spending has increased substantially in recent years. Consequently, the breakeven oil price rose…
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…
Team Australia to pay billions for new oil-vulnerable infrastructure
One would think that an increase of oil related taxes would be used to reduce oil dependency and fund public transport infrastructure, especially as the Iraq war has entered yet another critical…
Minesweeping exercise near Saudi oil hub
Massive minesweeping exercise begins off Bahrain 21/9/2012 Reporting from the Persian Gulf and the Arabian Sea (CNN) — More than three dozen nations have converged on the seas around Bahrain for a…
A disunited OPEC can’t control upward trend of oil prices
A meeting of oil ministers in Vienna broke up unexpectedly without an agreement to raise production. OPEC’s president said some members wanted three months to consider the issue. Iran, Venezuela and Algeria…
OPEC report: Saudi oil exports to decline
Saudi Arabia’s crude oil production will not increase beyond an average level of 8.7 mb/d (average last 20 years: 8.3 mb/d) until 2015. This is what OPEC Governor Majed al Moneef said…