Millions Of Barrels Of Oil Nobody Wants Are Floating In The Ocean
The price of oil is plummeting and millions of barrels of oil are being produced that nobody wants — and they’re going right to the ocean.
oil supply
The Truth Around Oil
There is a pretty simple truth about oil, and that is that there is lots out there, a fact that is not going to change going forward. In fact, quite the opposite. There is probably more upside to production, as well as downside on the demand side, meaning we will likely see low oil prices for the foreseeable future. The likelihood is that we will also see a race to the bottom in terms of the oil price as producers try to pump oil out of the ground and bring it to market as fast as possible. This in turn will lead to stranded assets as oil companies write down high-cost resources which have become too expensive to take out of the ground.
Saudi Aramco CEO Says Oil Supply Shortage Coming, Cites Steep Drop In Conventional Discoveries &…
The CEO of Saudi Aramco, Amin Nasser, was recently quoted at a conference in Istanbul as saying that the world is likely heading towards an oil supply shortage before too long as a result of falling discoveries of new conventional oil reserves and steep drops in new investment.
Oil Prices Respond Quickly To Supply Changes
Originally published on The Lenz Blog. By Karl-Friedrich Lenz The Institutional Investor Group on Climate Change is an association of European investors representing €13 trillion in assets. It has just published a report titled “Investor Expectations of Oil and Gas Companies – Transition to a lower carbon future.” This document … [continued]
