• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 3 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 18 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 4 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 19 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 1 day Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 4 hours US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 22 hours "The Hidden Story About California's Container Ship Backlog" via Corbett Report
  • 3 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 14 hours Storage of gas cylinders
  • 3 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

More Info

2019 - Sell The Rumour, Buy The Fact

2019 starts with a high degree of uncertainty over the path of the global economy. Leading economic indicators point to a downturn and US trade policy has halted the former direction of travel towards more globalised free trade.

The Chinese/US trade war rumbles on, the EU and the UK stand on the precipice of a ‘no deal’ Brexit divorce, which threatens the economic prospects of both. The era of quantitative easing appears to be over and interest rates are on the rise. All of the world’s major economies face a tougher economic outlook.

Given the close correlation between global GDP and oil demand, oil market participants have become bearish, calculating that muted oil demand growth means OPEC must do more than it currently intends to balance supply and demand.

At its last meeting in December, OPEC and its non-OPEC partners agreed to curb output by 1.2 million b/d for the first six months of this year. Given rising US output and the deepening gloom overhanging the global economy this was regarded by the market as inadequate, causing oil prices to plummet from just over $60/bbl in mid-December into the low $50s towards year’s end.

However, despite the prevailing pessimism, a downturn is not yet established fact, nor is a significant supply surplus in the oil market throughout 2019.

Less growth not no growth

The IMF, in its October World Economic Outlook, predicted global GDP growth of 3.7%, the same rate as in 2017 and…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News