• 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Forecasts for oil stocks.
  • 9 minutes Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 13 minutes European gas market to 2040 according to Platts Analitics
  • 2 hours Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10%
  • 4 hours America's pandemic dead deserve accountability after Birx disclosure
  • 6 hours Today Biden calls for Summit with Putin. Will Joe apologize to Putin for calling him a "Killer" ?
  • 15 hours U.S. Presidential Elections Status - Electoral Votes
  • 4 hours Putin blocks Ukraine access to Black Sea after Joe blinks
  • 6 hours Biden about to face first real test. Russia building up military on Ukraine border.
  • 6 hours Fukushima
  • 4 days Joe Biden's Presidency
  • 14 hours CO2 Mitigation on Earth and Magnesium Civilization on Mars – Just Add Water
  • 3 days New Chinese Coal Plants Equal All those in U.S.A
Lithium Prices Could Triple As EV Production Soars

Lithium Prices Could Triple As EV Production Soars

The electric vehicle production boom…

Editorial Dept

Editorial Dept

More Info

Premium Content

Oil's Unstoppable Bear Market

Global Energy Advisory

As the trade war between China and the US sparks even lower oil demand growth forecasts from analysts far and wide, not even OPEC’s July oil production – which hit an eight year low - was able to keep prices from their worst week in nearly seven months.

Market Panic Bandaged by OPEC Psychological Intervention

Saudi Arabia “leaked” on Thursday that it was talking with OPEC members behind the scenes to see what could be done to lift oil prices.

This, combined with its official announcement that it would keep oil exports below 7 million bpd through at least September, had an almost immediate and profound effect on the price of oil.

After the trade war between the US and China escalated earlier in the week, fears of a currency war took hold, tanking oil prices. Prices were pressured further as analysts misjudged the inventory movements reported by the EIA on Wednesday, with analysts predicting a draw rather than the build that was reported.

Saudi Arabia, which is still looking to get a $2 trillion valuation out of Aramco, needed to react swiftly. OPEC options are somewhat limited, however, as they are already producing below their agreed upon quota.

As China and OPEC jockey for position in setting oil prices, a further price slide may be on the horizon should China increase its purchases of Iranian crude oil in defiance of US sanctions.

While Saudi Arabia has halted the crash, bearish…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News