OPEC
Despite the predictions that the Oct. 23 meeting would be contentious, OPEC decided in 90 minutes to cut its oil production by 1.5 million b/d and allocated the cuts among Continue Reading
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Despite the predictions that the Oct. 23 meeting would be contentious, OPEC decided in 90 minutes to cut its oil production by 1.5 million b/d and allocated the cuts among Continue Reading
Oil prices moved above $75 a barrel early last week as the markets anticipated a cut in OPEC production. By Wednesday, however, fears of a deepening recession, falling equities markets, Continue Reading
Hardly a day goes by without a report that investment in new oil production projects is being delayed, postponed or cancelled. A combination of falling oil prices, declining demand, the Continue Reading
“I’m strongly of the opinion that we’re on the cusp of a global liquid fuels crisis. The forthcoming energy crisis, should it develop, could result in economic, political and social Continue Reading
By Dick Lawrence The seventh annual European conference on Peak Oil was held in Barcelona, Spain on October 20-21. The conference theme was “Peak Oil: From Below Ground to Above Continue Reading
This week’s price drop sets the stage for what may be the most pivotal OPEC meeting in years. If oil prices stay in the vicinity of Wednesday’s close, then OPEC Continue Reading
The week started with prices rising as the stock markets saw some improvement in inter-bank lending rates and the oil markets looked forward to an OPEC production cut on Friday. Continue Reading
So far it has been another week of violent price swings and falling markets as world governments dispersed countless billions in efforts to free up credit and shore up equity Continue Reading
Cuba announced there may be more than 20 billion barrels of recoverable oil in offshore fields in Cuba’s share of the Gulf of Mexico, more than twice the previous estimate. Continue Reading
All eyes will be focused on the OPEC meeting that takes place in Vienna this Friday. With prices falling another $10 last week, some form of cut seems inevitable. At Continue Reading
The multi-trillion dollar coordinated government bailout of the world’s banking system boosted equity and oil prices for less than two days before a three-day plunge sent oil to $68 a Continue Reading
Oil prices, and nearly everything else, were dominated by the course of the $700 billion liquidity bill through Congress last week. On Monday oil fell by a record $10 to Continue Reading
The effects of September’s hurricanes were still being felt across the southeast last week. While the refineries are nearly all back on line, 40 percent of the Gulf’s normal offshore Continue Reading
One of the key factors determining oil prices and global demand for oil over the next few years will be the course of China’s economy. Beijing continues to maintain that Continue Reading
As power shortages and blackouts due to poor monsoon rains and increased demand spread across India, the issue of using expensive, subsidized diesel to fuel generators for backup power is Continue Reading
Now that gasoline prices are receding, lack of credit to finance new car sales has become Detroit’s number one problem. In September, US auto sales reached a 15-year low with Continue Reading
(clips from recent Peak Oil News dailies are indicated by date and item #) Russia’s oil production fell for the ninth straight month, down 0.4 percent in September compared to Continue Reading
“One of the key questions the country faces is whether we will use our remaining wealth and fossil fuel to prop up the past or to transition to a different Continue Reading