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Tag Archives: Oil

Global Oil shortage at 1,930,000 barrels per day in October

Blogger RJS, MarketWatch 666 and Focus on Fracking, Global Oil Shortage at 1,930,000 barrels per day in October as OPEC’s output falls 588,000 barrels per day short of quota OPEC’s October Oil Market Report Thursday of this week saw the release of OPEC’s November Oil Market Report, which includes OPEC & global oil data for October, and hence it gives us a picture of the global oil supply & demand situation for the third month after...

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Oil prices – 7 year high, the longest string of weekly gains on record

Oil prices at 7 year high after longest string of weekly gains on record, Focus on Fracking, Commenter and Blogger RJS Oil prices rose for a record 9th consecutive week to a fresh 7 year high following across the board withdrawals from US oil & product inventories . . . after rising 3.7% to a 7 year high of $82.28 a barrel last week as global shortages of coal and natural gas were expected to lead to increased demand for oil, the contract...

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US crude supplies at 35 month low; Total oil and product supplies at 6 1/2 year low

Commenter and Blogger RJS adds more detail to what I would suggest is a coming shortage of oil and oil products. Focus on Fracking US crude supplies at a 35 month low; total supplies of oil and all products made from it at a 6 1/2 year low… US oil data from the US Energy Information Administration for the week ending September 17th indicated that despite sizeable increases in our oilfield production and our oil imports, we still needed to...

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Gasoline and Natural Gas Supplies, Alaska drilling

Gasoline supplies at a 42 month low; natural gas supplies still 16.5% lower than a year ago; offshore Alaska drilling resumes; Commenter Blogger RJS, MarketWatch 666 This Week’s Rig Count Number of drilling rigs active in the US increased for the 40th time out of the past 47 weeks during the week ending August 13th, but was still down by 36.9% from the pre-pandemic rig count….Baker Hughes reported that the total count of rotary rigs running in...

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Rising Oil and Natural Gas prices at 32 month and at 29 month highs

RJS at Marketwatch 666 reviews oil and natural gas pricing, June 28, 2021 Oil Pricing Oil prices set a new 32 month high for a fifth consecutive week, as negotiations to lift Iranian sanctions broke off and US crude supplies fell more than was expected for a fifth straight week. After rising 1% to $71.64 a barrel last week on rising demand and falling supplies, the contract price of US light sweet crude for July delivery opened lower on...

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Another comment on the current tensions between Greece and Turkey (and a debate with a Turkish chauvinist– S.Mavroudeas PRESS TV 11-9-2020

Yesterday (11-9-2020) I was asked by PRESS TV to comment on the current tensions between Greece and Turkey. I expressed the opinion that these tensions and war-mongering threats are coming from both sides, that is the Greek and the Turkish ruling elites. And that the peoples of Greece and Turkey have nothing to gain from this. The two ruling elites scramble for supposed oil reserves in the Eastern Mediterranean basin. The existence of these reserves is far from certain; and also, if...

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“We Want To Keep The Oil” — Caitlin Johnstone

Whenever I write about oil as a primary motive for US imperialism, I always get a bunch of right-wingers objecting that that makes no sense because the US has plenty of oil, and that it’s really about freedom and democracy or communism or Zionism or pedovore cults or Illuminati or whatever. What they miss, in their squirming attempts to avoid cognitive dissonance, is that it’s not about having and consuming oil, it’s about controlling oil. Control what governments can and cannot access...

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