• 2 hours French Strike Disrupts Exxon And Total’s Oil Product Shipments
  • 4 hours Kurdistan’s Oil Exports Still Below Pre-Conflict Levels
  • 6 hours Oil Production Cuts Taking A Toll On Russia’s Economy
  • 8 hours Aramco In Talks With Chinese Petrochemical Producers
  • 9 hours Federal Judge Grants Go-Ahead On Keystone XL Lawsuit
  • 10 hours Maduro Names Chavez’ Cousin As Citgo Boss
  • 17 hours Bidding Action Heats Up In UK’s Continental Shelf
  • 22 hours Keystone Pipeline Restart Still Unknown
  • 1 day UK Offers North Sea Oil Producers Tax Relief To Boost Investment
  • 1 day Iraq Wants To Build Gas Pipeline To Kuwait In Blow To Shell
  • 1 day Trader Trafigura Raises Share Of Oil Purchases From State Firms
  • 1 day German Energy Group Uniper Rejects $9B Finnish Takeover Bid
  • 1 day Total Could Lose Big If It Pulls Out Of South Pars Deal
  • 1 day Dakota Watchdog Warns It Could Revoke Keystone XL Approval
  • 2 days Oil Prices Rise After API Reports Major Crude Draw
  • 2 days Citgo President And 5 VPs Arrested On Embezzlement Charges
  • 2 days Gazprom Speaks Out Against OPEC Production Cut Extension
  • 2 days Statoil Looks To Lighter Oil To Boost Profitability
  • 2 days Oil Billionaire Becomes Wind Energy’s Top Influencer
  • 2 days Transneft Warns Urals Oil Quality Reaching Critical Levels
  • 2 days Whitefish Energy Suspends Work In Puerto Rico
  • 2 days U.S. Authorities Arrest Two On Major Energy Corruption Scheme
  • 3 days Thanksgiving Gas Prices At 3-Year High
  • 3 days Iraq’s Giant Majnoon Oilfield Attracts Attention Of Supermajors
  • 3 days South Iraq Oil Exports Close To Record High To Offset Kirkuk Drop
  • 3 days Iraqi Forces Find Mass Graves In Oil Wells Near Kirkuk
  • 3 days Chevron Joint Venture Signs $1.7B Oil, Gas Deal In Nigeria
  • 3 days Iraq Steps In To Offset Falling Venezuela Oil Production
  • 3 days ConocoPhillips Sets Price Ceiling For New Projects
  • 6 days Shell Oil Trading Head Steps Down After 29 Years
  • 6 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 6 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 6 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 6 days Venezuela Officially In Default
  • 6 days Iran Prepares To Export LNG To Boost Trade Relations
  • 6 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 7 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 7 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 7 days Rosneft Announces Completion Of World’s Longest Well
  • 7 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
Can Oil Majors Continue To Beat Estimates?

Can Oil Majors Continue To Beat Estimates?

As oil prices claw their…

Can OPEC Control The Oil Bulls In Vienna?

Can OPEC Control The Oil Bulls In Vienna?

The OPEC meeting is now…

Why Commodity Prices will Collapse By 2015

Why Commodity Prices will Collapse By 2015

Michael Pettis at China Financial Markets believes commodity prices will collapse by as much as 50% over the next few years. His rationale is solid.

Here are a few snips from a recent Michael Pettis email in which he outlines the case.

By 2015 Hard Commodity Prices Will Collapse

There are four reasons why I expect prices to drop a lot more.

First, during the last decade commodity producers were caught by surprise by the surge in demand. Their belated response was to ramp up production dramatically, but since there is a long lead-time between intention and supply, for the next several years we will continue to experience rapid growth in supply.

Click here to read the full article.



Join the discussion | Back to homepage

Leave a comment
  • Hans Nieder on September 06 2012 said:
    I read, Mr Pettis, article yesterday...

    I am quite sure that the "boom" in Red China is over..

    They will continue to expand their economy but not at previous rates...The days of double digits are over...

    You knew that there was trouble ahead, when the economic output is 50% state...

    Sorry, but command and controlled economies simply do not work in the long run...

Leave a comment

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