Tag Archives: OPEC

Oil Price War May Benefit Both US Shale and Saudi Arabia

Who will win the oil price battle, Saudi Arabia or US capitalism and shale producers? Probably both; US oil producers are taking unparalleled steps to lower their costs. By the same token, Saudi Arabia is the king of the oil markets for a reason – geologically it is essentially the perfect oil producer

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How Much Longer Can OPEC Hold Out?

With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker?

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Causes and Consequences of Plunge in Oil Prices

While volatility in oil markets will likely persist, prices are expected to remain soft over the next few years. The declining prices present a unique window of opportunity to reform inefficient fossil fuel subsidies everywhere, says a new World Bank estimate.

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Are Falling Oil Prices an Opportunity for Asia?

Low oil prices seem to benefit most countries, even oil producers. As long as the price does not fall below the level that OPEC members can withstand, they still profit. For other countries, low energy costs should be beneficial to consumers and to most industries, especially the transport and refining industries.

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Saudi Arabia Using Oil as Weapon

With ongoing proxy wars in Syria and Iraq, Saudi Arabia risks instigating an oil war with Russia and Iran -- a war that the kingdom can perhaps win in the short term. But like sectarian conflict, Saudi actions threaten to spark a conflagration that can spin out of everyone's control.

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Oil Prices Fall as Economics Trumps Geopolitics

With drop in oil prices, US may be able to wield an “oil weapon” directly rather than using Saudis as surrogates. The economic impacts of the oil price slump on the global macro-economy are multiple, complex and conflicting.

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Saudi Arabia to Become Oil Importer by 2030

According to “BP Statistical Review of World Energy, June 2013”, in 2012- Saudi Arabia had the second largest crude oil reserve (265.9 billion barrels) and the largest producer (11.53 million barrels per day) in the world. However, in mid-2012, a Citigroup analysis had been widely reported in the international media, which forecast that by 2030, Saudi Arabia will have no oil …

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Crude Oil: Production Cost $2, Market Price $100!

The IEA in its ‘World Energy Outlook 2008’ articulates that it costs between US$6 and US$28 to produce a barrel (bbl) of crude oil (in 2008 dollars) in the Middle East and North Africa. The range of production cost for other conventional fields is between US$6 and US39 per bbl. However, the production costs of deep/ultra-deep-water oilfields varies between US$32 …

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