• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days "The Calm Before The Storm In Oil Markets" by Tom Kool of OILPRICE and seen at YahooFinance
  • 2 hours Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 12 hours How cheap Chinese tires might explain Russia's 'stalled' 40-mile-long military convoy in Ukraine
  • 4 days "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
  • 5 days Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

More Info

Are The Saudis Keeping Oil Prices Suppressed?

We've seen very little recently to dissuade us from the thesis of much higher oil prices to come. EIA charts here on oilprice.com consistently show just how far short of projections the US is going to be to expected production this year.

And if we scan the news, the continuing bullish headlines are just about everywhere.

Permian production is getting handcuffed further by takeaway capacity, here's another chart showing the increasing amount of associated gas in the Permian that is being flared as pipeline space becomes more and more dear.

(Click to enlarge)

Around the globe, oil producers everywhere are showing signs of slowing production growth. Mexico's incoming President is considering stopping auctions for leases from foreign oil companies, and toying with joining OPEC. Venezuela continues its free-fall as the vultures circle the carcass of state-run CITGO, trying to extract what little is left. After the long break of corruption trials and settlements with US oil companies, Brazil has again opened up auctions for leases in the Pre-Salt offshore region. Despite the opportunities there, Campos basin production has continued its steady drift downwards.

Renewed Iranian sanctions are beginning to kick in, with the likely expectation of dropping their exports by up to 1m barrels a day.

OPEC and Russia are looking to formalize their cooperation on production, considering just how well that’s worked out in the past two years to…




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