• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 hours e-cars not selling
  • 3 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 7 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days If hydrogen is the answer, you're asking the wrong question
  • 4 days How Far Have We Really Gotten With Alternative Energy
Editorial Dept

Editorial Dept

More Info

Premium Content

Global Oil Supply Under Threat

Friday May, 10, 2019

1. Grain prices crash on Trump’s trade war

- Soybean and corn futures plunged after President Trump announced tariff hikes on China via twitter. The Bloomberg Grains Subindex Total Return fell to its lowest level since 1977.

- As Bloomberg noted, July soybean futures fell to a record low, falling to $8.1675 per bushel at the start of the week.

- Meanwhile, U.S. farmers are still drying out from record floods, which damaged crop land and infrastructure, and delayed plantings.

- The prospect of a major hike in tariffs on China, and the anticipated retaliatory trade actions on the U.S., could depress agricultural commodities further.

2. Libya could lose 1 mb/d

- Over the past year, Libya has been a bearish factor for oil prices, restoring long-disrupted output and reaching multi-year production highs at over 1.2 mb/d as recently as March.

- But the reignited civil war could put an end to all of those gains.

- The restoration of production hinged on a delicate but important division of the oil sector: The government in Tripoli controlled the legal authority to export oil, while the LNA provided the security.

- Now, at war, it’s much more likely a winner-take-all mentality will emerge, leading to disruptions. “[W]e think it unlikely that the arrangement can survive a protracted stalemate and the associated weakening of the LNA. In our view there is a high risk that Libyan…





Leave a comment

Leave a comment




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