- published: 07 Dec 2015
- views: 299625
The price of oil, or the oil price, generally refers to the spot price of a barrel of benchmark crude oil. The price of a barrel of oil is highly dependent on both its grade, determined by factors such as its specific gravity or API and its sulphur content, and its location.
As with all commodities, the oil price is determined by the balance between supply and demand. The supply of oil is dependent on geological discovery, the legal and tax framework for oil extraction, the cost of extraction, the availability and cost of technology for extraction, and the political situation in oil-producing countries. Both domestic political instability in oil producing countries and conflicts with other countries can destabilise the oil price. For example, the Iranian Revolution of 1979 led to a jump in oil prices.
The demand for oil is dependent on global macroeconomic conditions. According to the International Energy Agency, high oil prices generally have a large negative impact on global economic growth.
2016 (MMXVI) is the current year, and is a leap year starting on Friday (dominical letter CB) of the Gregorian calendar, the 2016th year of the Common Era (CE) and Anno Domini (AD) designations, the 16th year of the 3rd millennium, the 16th year of the 21st century, and the 7th year of the 2010s decade.
2016 has been designated as:
This is a list of Teletubbies episodes and videos.
The Price may refer to:
Oil Prices: What's going on? - An Animation
Oil price forecast 2017
Opec and the outlook for the oil price
Oil prices headed for $30, Bank of America says
Inside Story - What's behind the falling price of oil?
Oil price tumbles to lowest level of year
Oil price will see ‘further softness’ before rising through to the end of 2017 | IG
Why oil prices remain low.
Why oil prices are dropping
Oil Prices Drop, Then Slingshot Higher Above $140
Peak Oil Files - 1 - The Importance of Oil
The Price of Eggs
Palm Oil Victims
Honda Dream Run
http://illuminatisilver.com http://facebook.com/illuminatisilver Oil price forecast 2017 Today is Wednesday 28th December 2016 and we are briefly commenting on the forces likely to affect oil prices in 2017. As we reported recently and which is now common knowledge, the world has faced an oil glut mainly caused by OPEC having no agreements on output and the considerable amount of oil produced by US Shale Oil Producers all of which has caused Brent crude oil prices to fall from over $115 per barrel in June 2014 down to $27 a barrel in Jan 2016 and are now standing at $55 a barrel after this month’s OPEC/NonOPEC production agreement. The question many people are asking is where are prices likely to go from here and what will influence them? Well the answer is, that it all depends upon wh...
► Watch 'Opec and the outlook for the oil price' and more on FT.com: http://on.ft.com/2pbMPOo The FT's Anjli Raval reports on how the outlook for oil is being shaped by a tug of war between Opec plus a group of producers who recently agreed to curb output, and a resurgent US shale industry that is increasing production ► Subscribe to FT.com here: http://on.ft.com/2eZZoLI ► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
With too much global supply and the lowest price in nearly 20 years - there's anxiety about a possible oil market meltdown. US crude prices fell below $30 a barrel on Tuesday, before settling down, but only a bit. While most major oil companies are slashing their budgets and jobs, some of the biggest oil companies like Saudi Aramco have not cut back on production. And some OPEC states, like Iran and Iraq, are looking to increase production. In the past year, the price of a barrel of oil has fallen by more than 50%. The highest price in the last 12 months was $110 a barrel. Some investment bankers are now warning that oil could crash to $10 a barrel. So, what's behind the falling price of oil and what does it mean for consumers? Presenter: Peter Dobbie Guests: Corneli...
Subscribe to France 24 now: http://f24.my/youtubeEN FRANCE 24 live news stream: all the latest news 24/7 http://f24.my/YTliveEN The price of has tumbled to its lowest level since November of last year. In Asian trading, the international benchmark Brent Crude was under $45 a barrel. Prices have been sliding in recent days over fears oversupply is returning to the market. Also today, George Clooney's tequila bonanza. Visit our website: http://www.france24.com Subscribe to our YouTube channel: http://f24.my/youtubeEN Like us on Facebook: https://www.facebook.com/FRANCE24.English Follow us on Twitter: https://twitter.com/France24_en
With oil price down almost 15% since OPEC’s meeting in May, Miswin Mahesh, from Energy Aspects, says while this quarter could see further declines, the price will then pick up as fundamentals ‘kick-in’. Website: https://www.ig.com/uk?CHID=9&QPID=1414138388&QPPID;=1 Twitter: https://twitter.com/IGcom Facebook: https://www.facebook.com/IGcom Google Play: https://play.google.com/store/apps/de... iTunes: https://itunes.apple.com/gb/app/ig-tr... LinkedIn: https://www.linkedin.com/company/igcom Google +: https://plus.google.com/u/0/108999047... IG is a global leader in retail forex, providing fast and flexible access to over 10,000 financial markets – including indices, shares, forex, commodities and binaries. Established in 1974 as the world’s first financial spread betting firm, we are n...
Oil Prices will Drop, Then Spike to $140 Subscribe: https://www.youtube.com/user/PeterLeedsPennyStock Oil prices will decline first, as a long-approaching recession arrives. Then many wells will be plugged or paused, and many fracking companies will start shutting their operations down. After that, once inflation and demand rebounds, there will not be enough supply to hold down prices. Oil will spike up towards $140 per barrel or more! Get More From Peter Leeds: HOME = https://www.peterleeds.com/ .... Penny Stocks for Dummies = http://amzn.to/1WyGaLo ... E-Mail: Questions@PeterLeeds.com Phone: 1.866.695.3337
Peak oil is where oil production rates fall after hitting a peak. Supply will no longer be able to meet demand causing dramatic increases in oil price. This will have a major impact on us and our economies in a world thoroughly dependent on oil. This is the first chapter in an in depth, multi part, info-graphic based series that attempts to explain all the ins and outs of peak oil, why it is inevitable and what is likely to happen in the coming years. It is intended to be much like a book with separate, complimentary chapters that help properly educate people on all the ideas and issues surrounding the topic so that whoever watches will have a good enough understanding to be able to make some sensible decisions/comments. The emphasis is on “properly educate”, I want to help create a defin...
This short film was made as part of a weekly journal, responding to the work of experimental films screened at the Cinematic Voices seminar at CalArts. The Price of Eggs was inspired by ideas portrayed in Betzy Bromberg's energizing film Soothing the Bruise (1980). Soothing the Bruise is a 16mm color film that was created early in Betzy's career as a filmmaker, after moving to Southern California from the east coast. In her film she highlights the materiality of the medium by making use of a variety of techniques, including different reversal stocks and the negative image. In Soothing the Bruise, Betzy explores the tensions of the oil crisis, the oversimplification of the american foreign policy for the masses, and inevitable stance towards having children as a young female artist. The ...
Palm oil is an increasingly controversial commodity derived from the African oil palm tree. Palm oil has emerged as a highly profitable and desirable source of vegetable oil due to its comparatively high yields and cheap price, coupled with the fact that it only grows in tropical forest regions that boast cheap land, cheap labor, weak regulation, and often corrupt governments. National Wildlife Federation found that as of 2007, palm oil comprised the largest share of world production followed by soybean and canola oils. Due to the massive jump in global demand for this oil, there is steadily increasing pressure on tropical forests, particularly in Indonesia and Malaysia, which produce the vast majority of global output. The U.S., while a relatively small market player at this time, has nev...
Honda Australia's commercial for its all-new Honda HR-V: a surreal dream created by Altvfx, Good Oil Films and Leo Burnett, Melbourne. The ad takes place within the lucid dream of the main character "Brian". When an imposing force attempt to wake him up, he uses the HR-V to make a getaway and keep on dreaming. Backed by the iconic song "Sweet Dreams" by the Eurythmics, the spot includes strange phenomena, teleportation and much more. Creative Agency Leo Burnett (Australia) Film Production Good Oil Films Director Nathan Price
A dramatically high oil price has made travel punitively expensive. Cost is the primary concern for holidaymakers as everyone asks: how far can I get for my money? Although a small, elite market continues to fly regularly, the vast majority of people simply cannot afford the experience. There have been mass redundancies across the travel industry and the affordability of overland routes has led to radical restructuring. 'Price and Privilege' is one of four scenarios for the future UK outbound tourism industry, developed by Forum for the Future for the Tourism 2023 project. For further information, go to: www.forumforthefuture.org/projects/tourism-2023 Animation by Jane Xu, Goldsmiths. Copyright Forum for the Future
http://www.daytradetowin.com We show you 3 consecutive days of trading PART 2/2. Emini SP Australian Dollar, Euro currency, Crude Oil, Cl, Gold. Price action to the max profit.
Peak oil is where oil production rates fall after hitting a peak. Supply will no longer be able to meet demand causing dramatic increases in oil price. This will have a major impact on us and our economies in a world thoroughly dependent on oil. This is the first chapter in an in depth, multi part, info-graphic based series that attempts to explain all the ins and outs of peak oil, why it is inevitable and what is likely to happen in the coming years. It is intended to be much like a book with separate, complimentary chapters that help properly educate people on all the ideas and issues surrounding the topic so that whoever watches will have a good enough understanding to be able to make some sensible decisions/comments. The emphasis is on “properly educate”, I want to help create a defin...
Peak oil is where oil production rates fall after hitting a peak. Supply will no longer be able to meet demand causing dramatic increases in oil price. This will have a major impact on us and our economies in a world thoroughly dependent on oil. This is the first chapter in an in depth, multi part, info-graphic based series that attempts to explain all the ins and outs of peak oil, why it is inevitable and what is likely to happen in the coming years. It is intended to be much like a book with separate, complimentary chapters that help properly educate people on all the ideas and issues surrounding the topic so that whoever watches will have a good enough understanding to be able to make some sensible decisions/comments. The emphasis is on “properly educate”, I want to help create a defin...
1973 - Oil price shock: the rise of Australia’s economic bogeyman 18 October 1973. Gulf States hold oil importers to ransom by putting an embargo on oil exports in response to US involvement in the Arab-Israeli war. Oil prices surge triggering inflation and recession, and leaving Australian producers flailing under legislated fixed pricing regimes. Looking ahead, The Financial Review is already forecasting the second oil shock that would take place two years later. “While the immediate pressures placed on Australian petrol prices by the latest increase obviously attracts the most attention...the really intriguing question is what is going to happen to the oil agreement come September 1975. The Government is confronted with having to offend somebody. Either it is going to have to pres...
For more of the science on the BP oil spill and its lingering effects, read the following. You will understand why BP oil matters, especially as the DOJ is negotiating with BP over the compensation for this disaster. Can you put a price on our fragile eco system: Dead birds, burned sea turtles or sick and dying dolphins? New England Journal of Medicine and BP Oil Spill- many concerns validated here: http://www.nejm.org/doi/full/10.1056/NEJMra1007197 Preliminary Findings of Persistency of PAH's in Residual Tar Product Sourced from Crude Oil Released during the Deepwater Horizon MC252 Spill of National Significance: http://emeraldcoast.surfrider.org/2012/04/surfrider-foundation-oil-study-reports-available-for-download/ New Study from Auburn University finds N. Gulf of Mexio tar balls tox...
http://illuminatisilver.com http://facebook.com/illuminatisilver Oil price forecast 2017 Today is Wednesday 28th December 2016 and we are briefly commenting on the forces likely to affect oil prices in 2017. As we reported recently and which is now common knowledge, the world has faced an oil glut mainly caused by OPEC having no agreements on output and the considerable amount of oil produced by US Shale Oil Producers all of which has caused Brent crude oil prices to fall from over $115 per barrel in June 2014 down to $27 a barrel in Jan 2016 and are now standing at $55 a barrel after this month’s OPEC/NonOPEC production agreement. The question many people are asking is where are prices likely to go from here and what will influence them? Well the answer is, that it all depends upon wh...
► Watch 'Opec and the outlook for the oil price' and more on FT.com: http://on.ft.com/2pbMPOo The FT's Anjli Raval reports on how the outlook for oil is being shaped by a tug of war between Opec plus a group of producers who recently agreed to curb output, and a resurgent US shale industry that is increasing production ► Subscribe to FT.com here: http://on.ft.com/2eZZoLI ► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
With too much global supply and the lowest price in nearly 20 years - there's anxiety about a possible oil market meltdown. US crude prices fell below $30 a barrel on Tuesday, before settling down, but only a bit. While most major oil companies are slashing their budgets and jobs, some of the biggest oil companies like Saudi Aramco have not cut back on production. And some OPEC states, like Iran and Iraq, are looking to increase production. In the past year, the price of a barrel of oil has fallen by more than 50%. The highest price in the last 12 months was $110 a barrel. Some investment bankers are now warning that oil could crash to $10 a barrel. So, what's behind the falling price of oil and what does it mean for consumers? Presenter: Peter Dobbie Guests: Corneli...
Subscribe to France 24 now: http://f24.my/youtubeEN FRANCE 24 live news stream: all the latest news 24/7 http://f24.my/YTliveEN The price of has tumbled to its lowest level since November of last year. In Asian trading, the international benchmark Brent Crude was under $45 a barrel. Prices have been sliding in recent days over fears oversupply is returning to the market. Also today, George Clooney's tequila bonanza. Visit our website: http://www.france24.com Subscribe to our YouTube channel: http://f24.my/youtubeEN Like us on Facebook: https://www.facebook.com/FRANCE24.English Follow us on Twitter: https://twitter.com/France24_en
With oil price down almost 15% since OPEC’s meeting in May, Miswin Mahesh, from Energy Aspects, says while this quarter could see further declines, the price will then pick up as fundamentals ‘kick-in’. Website: https://www.ig.com/uk?CHID=9&QPID=1414138388&QPPID;=1 Twitter: https://twitter.com/IGcom Facebook: https://www.facebook.com/IGcom Google Play: https://play.google.com/store/apps/de... iTunes: https://itunes.apple.com/gb/app/ig-tr... LinkedIn: https://www.linkedin.com/company/igcom Google +: https://plus.google.com/u/0/108999047... IG is a global leader in retail forex, providing fast and flexible access to over 10,000 financial markets – including indices, shares, forex, commodities and binaries. Established in 1974 as the world’s first financial spread betting firm, we are n...
Oil Prices will Drop, Then Spike to $140 Subscribe: https://www.youtube.com/user/PeterLeedsPennyStock Oil prices will decline first, as a long-approaching recession arrives. Then many wells will be plugged or paused, and many fracking companies will start shutting their operations down. After that, once inflation and demand rebounds, there will not be enough supply to hold down prices. Oil will spike up towards $140 per barrel or more! Get More From Peter Leeds: HOME = https://www.peterleeds.com/ .... Penny Stocks for Dummies = http://amzn.to/1WyGaLo ... E-Mail: Questions@PeterLeeds.com Phone: 1.866.695.3337
Peak oil is where oil production rates fall after hitting a peak. Supply will no longer be able to meet demand causing dramatic increases in oil price. This will have a major impact on us and our economies in a world thoroughly dependent on oil. This is the first chapter in an in depth, multi part, info-graphic based series that attempts to explain all the ins and outs of peak oil, why it is inevitable and what is likely to happen in the coming years. It is intended to be much like a book with separate, complimentary chapters that help properly educate people on all the ideas and issues surrounding the topic so that whoever watches will have a good enough understanding to be able to make some sensible decisions/comments. The emphasis is on “properly educate”, I want to help create a defin...
This short film was made as part of a weekly journal, responding to the work of experimental films screened at the Cinematic Voices seminar at CalArts. The Price of Eggs was inspired by ideas portrayed in Betzy Bromberg's energizing film Soothing the Bruise (1980). Soothing the Bruise is a 16mm color film that was created early in Betzy's career as a filmmaker, after moving to Southern California from the east coast. In her film she highlights the materiality of the medium by making use of a variety of techniques, including different reversal stocks and the negative image. In Soothing the Bruise, Betzy explores the tensions of the oil crisis, the oversimplification of the american foreign policy for the masses, and inevitable stance towards having children as a young female artist. The ...
Palm oil is an increasingly controversial commodity derived from the African oil palm tree. Palm oil has emerged as a highly profitable and desirable source of vegetable oil due to its comparatively high yields and cheap price, coupled with the fact that it only grows in tropical forest regions that boast cheap land, cheap labor, weak regulation, and often corrupt governments. National Wildlife Federation found that as of 2007, palm oil comprised the largest share of world production followed by soybean and canola oils. Due to the massive jump in global demand for this oil, there is steadily increasing pressure on tropical forests, particularly in Indonesia and Malaysia, which produce the vast majority of global output. The U.S., while a relatively small market player at this time, has nev...
Honda Australia's commercial for its all-new Honda HR-V: a surreal dream created by Altvfx, Good Oil Films and Leo Burnett, Melbourne. The ad takes place within the lucid dream of the main character "Brian". When an imposing force attempt to wake him up, he uses the HR-V to make a getaway and keep on dreaming. Backed by the iconic song "Sweet Dreams" by the Eurythmics, the spot includes strange phenomena, teleportation and much more. Creative Agency Leo Burnett (Australia) Film Production Good Oil Films Director Nathan Price
A dramatically high oil price has made travel punitively expensive. Cost is the primary concern for holidaymakers as everyone asks: how far can I get for my money? Although a small, elite market continues to fly regularly, the vast majority of people simply cannot afford the experience. There have been mass redundancies across the travel industry and the affordability of overland routes has led to radical restructuring. 'Price and Privilege' is one of four scenarios for the future UK outbound tourism industry, developed by Forum for the Future for the Tourism 2023 project. For further information, go to: www.forumforthefuture.org/projects/tourism-2023 Animation by Jane Xu, Goldsmiths. Copyright Forum for the Future
http://www.daytradetowin.com We show you 3 consecutive days of trading PART 2/2. Emini SP Australian Dollar, Euro currency, Crude Oil, Cl, Gold. Price action to the max profit.
Peak oil is where oil production rates fall after hitting a peak. Supply will no longer be able to meet demand causing dramatic increases in oil price. This will have a major impact on us and our economies in a world thoroughly dependent on oil. This is the first chapter in an in depth, multi part, info-graphic based series that attempts to explain all the ins and outs of peak oil, why it is inevitable and what is likely to happen in the coming years. It is intended to be much like a book with separate, complimentary chapters that help properly educate people on all the ideas and issues surrounding the topic so that whoever watches will have a good enough understanding to be able to make some sensible decisions/comments. The emphasis is on “properly educate”, I want to help create a defin...
Peak oil is where oil production rates fall after hitting a peak. Supply will no longer be able to meet demand causing dramatic increases in oil price. This will have a major impact on us and our economies in a world thoroughly dependent on oil. This is the first chapter in an in depth, multi part, info-graphic based series that attempts to explain all the ins and outs of peak oil, why it is inevitable and what is likely to happen in the coming years. It is intended to be much like a book with separate, complimentary chapters that help properly educate people on all the ideas and issues surrounding the topic so that whoever watches will have a good enough understanding to be able to make some sensible decisions/comments. The emphasis is on “properly educate”, I want to help create a defin...
1973 - Oil price shock: the rise of Australia’s economic bogeyman 18 October 1973. Gulf States hold oil importers to ransom by putting an embargo on oil exports in response to US involvement in the Arab-Israeli war. Oil prices surge triggering inflation and recession, and leaving Australian producers flailing under legislated fixed pricing regimes. Looking ahead, The Financial Review is already forecasting the second oil shock that would take place two years later. “While the immediate pressures placed on Australian petrol prices by the latest increase obviously attracts the most attention...the really intriguing question is what is going to happen to the oil agreement come September 1975. The Government is confronted with having to offend somebody. Either it is going to have to pres...
For more of the science on the BP oil spill and its lingering effects, read the following. You will understand why BP oil matters, especially as the DOJ is negotiating with BP over the compensation for this disaster. Can you put a price on our fragile eco system: Dead birds, burned sea turtles or sick and dying dolphins? New England Journal of Medicine and BP Oil Spill- many concerns validated here: http://www.nejm.org/doi/full/10.1056/NEJMra1007197 Preliminary Findings of Persistency of PAH's in Residual Tar Product Sourced from Crude Oil Released during the Deepwater Horizon MC252 Spill of National Significance: http://emeraldcoast.surfrider.org/2012/04/surfrider-foundation-oil-study-reports-available-for-download/ New Study from Auburn University finds N. Gulf of Mexio tar balls tox...
With too much global supply and the lowest price in nearly 20 years - there's anxiety about a possible oil market meltdown. US crude prices fell below $30 a barrel on Tuesday, before settling down, but only a bit. While most major oil companies are slashing their budgets and jobs, some of the biggest oil companies like Saudi Aramco have not cut back on production. And some OPEC states, like Iran and Iraq, are looking to increase production. In the past year, the price of a barrel of oil has fallen by more than 50%. The highest price in the last 12 months was $110 a barrel. Some investment bankers are now warning that oil could crash to $10 a barrel. So, what's behind the falling price of oil and what does it mean for consumers? Presenter: Peter Dobbie Guests: Corneli...
Counting the Cost - The future of oil jobs in the Middle East The Organisation of Petroleum Exporting Countries (OPEC) and 11 other oil-producing nations have extended oil production cuts until March 2018 in an attempt to drain the global oversupply of oil and prop up the price of crude. Saudi Arabia led the push to extend the curbs, but oil prices have risen less than OPEC countries have hoped for. And that's because oil at current prices is enough to bring US producers back into the market. What will OPEC's production cut extension mean for energy jobs in the region? Cian Brennan from the consultants Turner and Townsend looks at what changes are coming for the Middle East's oil industry. More from Counting the Cost on: YouTube - http://aje.io/countingthecostYT Website - http://aljaz...
Subscribe to our Free Financial Newsletter: http://crushthestreet.com First time guest Erik Townsend really gives us the broad view on world oil supply and where we are in the peak oil curve. He's predicting some volatility in the price, well to clarify, a crash to near $20 and then spike much higher within 5 years as the supply gets choked out. If you love energy be sure not to miss this interview. TOPICS IN THIS INTERVIEW: 01:05 Risk for Market Crash by Summer Increasing 03:55 Establishment Derailing All Trump's Policies 05:00 Ex-Exxon Rex Tillerson Will be Sec State? 05:00 Could Oil go to $20 under Green Energy Trend? 05:00 US Oil & Trump's Sec. State Pick Ex-Exxon CEO 08:10 Peak Oil: US Overly liquid fuel dependent 10:20 Venezuela (Oil) to Fall Apart into Civil War 11:50 History of W...
Full description and comments at: https://www.peakprosperity.com/podcast/108749/art-berman-dont-get-used-todays-low-oil-prices Oil expert and geological consultant Art Berman returns to the podcast this week to address head-on the question: Was the Peak Oil theory wrong? With the world "awash" in sub-$50 per barrel oil, were all the warnings about persistently higher future oil prices just a bunch of alarmist hand-wringing? In a word: No. Art explains how the current glut of oil created by the US shale boom -- along with high crude output by both OPEC and non-OPEC producers -- is a temporary anomaly. Fundamentally, we are not finding nearly as much oil as we need to continue the trajectory of our demand curve. And at the same time, we're extracting our reserves at a faster rate than ev...
Erik Townsend welcomes Art Berman to MacroVoices. Erik and Art discuss: -- Catalyst for the current decline in oil -- Lack of confidence in OPEC -- Record levels of oil inventories -- Comparative inventories to past years -- World production surplus -- Global liquids consumption growth -- OECD incremental liquids Inventory -- EIA U.S. crude oil forecast Art Berman Chartbook : https://www.macrovoices.com/macro-voices-research/guest-publications/710-art-berman-chart-book-oil-prices-plunge-over-reaction-or-turning-point/file podcast transcript: https://www.macrovoices.com/macro-voices-research/podcast-transcripts/722-2017-03-09-transcript-of-the-podcast-interview-between-erik-townsend-and-art-berman Arthur E. Berman is a geological consultant with thirty-seven years of experien...
The 15th International Energy Forum, held in Algiers earlier this week, saw OPEC members decide to cut production by about 800,000 barrels per day. The cut would not be consistent across all member states but was significant nonetheless, being the first in eight years.The move is forecast to stabilise global oil prices. "Today OPEC has taken an historic decision. OPEC will go back to its role of monitoring the market. It's a role that it lost many years ago, that it is now reclaiming," said Noureddine Boutarfa, Algerian energy minister. We've seen that in the past, when Saudi Arabia was serious about cutting down oil, it has significantly impacted the oil price. John Sfakianakis, Gulf Research Center Many oil income reliant states have welcomed OPEC's decision, in light of the dramati...
Can OPEC still control the oil market? – Inside Story. The discussion was in Kuwait but its outcome could affect the whole world. Oil producing countries are considering further cuts in output to try and force prices higher. Ministers from both OPEC and non-OPEC countries met in Kuwait City on Sunday. They reviewed progress on the six month production reduction agreement in December. They're due to meet again in April to decide if they want to extend that deal. Kuwait, Iraq and the United Arab Emirates all expect further production cuts. Will the price of oil rise further? And how badly is OPEC being hurt by shale oil from the United States? Presenter: Hazem Sika Guests: Abdullah Baabood, Director, Gulf Study Center at Qatar University. Cornelia Meyer, Energy expert. John ...
Oil expert and geological consultant Art Berman returns to the podcast this week to address head-on the question: Was the Peak Oil theory wrong? With the world "awash" in sub-$50 per barrel oil, were all the warnings about persistently higher future oil prices just a bunch of alarmist hand-wringing? In a word: No. Art explains how the current glut of oil created by the US shale boom -- along with high crude output by both OPEC and non-OPEC producers -- is a temporary anomaly. Fundamentally, we are not finding nearly as much oil as we need to continue the trajectory of our demand curve. And at the same time, we're extracting our reserves at a faster rate than ever. That's a mathematical recipe for a coming supply crunch. It's not a matter of if, but when. This video was posted with permi...
Erik Townsend welcomes Art Berman to MacroVoices. Erik and Art discuss: -- Perspective on OPEC and the 9-month extension on production cuts -- OPEC’s goal to keep a floor under oil prices -- Positioning of oil traders since February -- Reasons for lower oil prices -- Putting U.S. production into perspective -- Where does comparative inventory price Brent and WTI -- Inventory data and forecasts -- Impact of capital markets and central bank policy -- Early recovery from oil price collapse -- Correlation of U.S. debt to tight oil -- Term structure of the crude oil markets Arthur E. Berman is a geological consultant with thirty-seven years of experience in petroleum exploration and production. He currently is consulting for several E&P; companies and capital groups in the energy s...
What is the deal with Oil Prices? How can this precious commodity be so cheap? If it is indeed so, then why is it that petrol and diesel still seem expensive? There appears to be a ‘race-to-the-bottom’ as far as oil prices are concerned. In a bid to drive out shale gas companies in the US, Saudi Arabia in particular appears to be spearheading this initiative. Although Saudi Arabia enjoys the status of the world’s largest storehouse of crude oil, they haven’t been enjoying support from all sections of OPEC member nations. Understanding the geopolitics of oil and its far-reaching impact on influencing crude oil prices is an important area under the Civil Services examination syllabus. To enroll for India's best Online Current Affairs Crash Course, click here: http://testprep.byjus.com/ia...