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Oil Prices
Comments
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The rising oil prices will now be used as an(other) excuse for general prices to go up.0
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Looks like I might bring forward my plans for an electric vehicle somewhat. I annually export enough electricity from my PV panels to power my annual mileage.
Any major increase in fuel prices will only hasten the switch to EVs,0 -
Oil prices have hit a four-year high of over $81 a barrel after Saudi Arabia and Russia rejected calls by Donald Trump to increase production.
Brent crude hit its highest level since November 2014 at $81.16 a barrel, up 3% on the day.
Saudi Arabia leads the Opec oil cartel, while Russia is the biggest oil producer outside the group.
They met in Algiers on Sunday to discuss global supply levels and US sanctions on Iran.
The meeting ended with no formal agreement on any additional supply boost.
BBC NewsThere is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
USA shale oil output expected to increase 144kbpd over the next month.
That is an annualized 1.7 mbpd expansion which is massive
Somethings got to give at this rate if they could sustain it the Americans would exceed 15 mbpd from just shale oil within just five years.
Rising oil prices benefit low cost producers such as American frackers most of all. Curious the Trump should want other countries to increase supply to reduce prices.0 -
The Americans are pumping out nearly 6.4 mbpd in shale oil
Fast forward 9 months and the Americans are producing 7.5 mbpd in shale oil
This year looks to be ~1.3 mbpd production growth from the shale fields of USA
That is huge but not enough to fill global demand growth and falloff in old fields. It is great for the USA but the world needs more prolific shales to keep opec honest for another decade while EVs ramp0
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