Monday, October 6, 2014
Mon, October 6, 2014 | link
Things are getting interesting in the oil markets. The law of supply and demand is working.
The price of crude has fallen to a 17 month low. The U.S. crude oil production reached 8.8 million barrels a day in
the week ending September 19, 2014. This is the most production since March of 1986. According to the Energy Information
Administration, it is expected to be 9.5 million barrels by 2015 which is a 45 year high. Saudi Arabia has even reduced
its price for Arab light to Asia $1.00 a barrel to remain competitive. Who knows where or when it will bottom out, but
enjoy while it lasts.
Friday, April 11, 2014
It's been awhile since my last note on the oil
industry. According to the U.S. Energy Department, the country's crude oil reserve rose for a fourth straight year
to their highest level since 1976. Hydraulic fracturing methods have helped drillers unlock oil trapped
in rock formations. On another note, China reported shrinking exports and imports for March. The world's
second largest economy is showing signs of weakness. What is holding the price of crude up over
$100.00 a barrel?
Fri, April 11, 2014 | link