Category:

Peak Oil Review – 15 October 2019

Oil prices have hovered in the mid to low $50s since late July. They spiked briefly into the low $60s after the Saudi oil facilities were attacked but quickly settled back on news that the Saudis would be able to repair the damage quickly. Conventional wisdom says that the Russian-Saudi production freeze is keeping prices from going lower. At the same time falling demand is holding a lid on prices despite slowing production and lower exports in several countries. Geopolitical risk has receded as the top concern of oil traders. To quote one trader, “everything is about weak demand now.”

Posted On :
Category:

Peak Oil Review – 7 October 2019

Oil prices have hovered in the mid to low $50s since late July. They spiked briefly into the low $60s after the Saudi oil facilities were attacked but quickly settled back on news that the Saudis would be able to repair the damage quickly. Conventional wisdom says that the Russian-Saudi production freeze is keeping prices from going lower. At the same time falling demand is holding a lid on prices despite slowing production and lower exports in several countries. Geopolitical risk has receded as the top concern of oil traders. To quote one trader, “everything is about weak demand now.”

Posted On :