These terrible financial results reflect a year when average WTI oil prices were more than $93 per barrel. First quarter 2015 earnings will make these results look good. The immediate cause of the present oil price collapse is found in increasing production and, to a less obvious extent, decre...
Many OPEC countries need higher oil prices to balance their budgets, including $70-$80 a barrel for Saudi Arabia. What is not clearly understood is that once oil inventories reach maximum capacity, the oil markets will immediately become balanced. For once storage facilities are full to the ...
The first is the realization by the global oil market that US sanctions have failed completely so far to cost Iran a single barrel of oil and consequently the risk of supply shortage has not materialized despite claims by the overwhelming majority of analysts and investment bankers that Iran will...
At Trade Finance Global, it is likely that we might see a slight bounce back inexports, given the political appetite to boost trade overseas. Given the long term uncertainty around trade relationships and the short term drive to boost exports, it’s likely that governments will support and fac...
As mentioned in the introduction, there is a 430,000 barrel a day crude oil pipeline that brings crude oil up from the Gulf Coast to Cushing, called the Seaway Pipeline. If it were reversed, it theoretically might solve the problem, assuming that each refinery could still get the type of...
of Saudi Arabia has announced a total of $125 billion worth (27 percent of the country’s GDP) on social programs for the public. For King Abdullah, this is the cost of keeping peace but has driven up the breakeven price for Saudi oil production to $88 per barrel, according to the ...
The oil price is on a rollercoaster. Having crashed intonegative territoryjust last April, the price of Brent crude climbed all the way to US$70 (£50) earlier in March. It hassince slidbelow US$64. So where is it heading and what are the implications?
By the end of 2019 IMHO break-evens probably 33-35 a bbl. 33-35$ is way too optimistic. For break even I mean full cost to produce barrel of oil (with all taxes, royalty, service debt e.t.c). The best proof for break-even about 55-60$ is cash flow and level of shale ...
The cure for low oil prices is low oil prices, and that cure will begin to take effect this year. I realize that we dropped into the $30′s in 2008, but keep two things in mind. Just over a year later we were back above $100/bbl, and at that time the marginal barrel was not...
A barrel of crude weighs more than 300 pounds. let's guess that we can convert two pounds of crude to one pound of nitrile, so a bbl will make at least 150x200=30000 gloves. 2 billion gloves will take less than 66,000 bbl. Current (pre-pandemic) oil production is about 100 million...