While OPEC searches for a floor, UAE concludes Patriot purchase
Monday, December 22nd, 2008 Posted in Defense, Oil | No Comments »On Wednesday of this past week, OPEC agreed to slash production of crude by 2.2 million barrels a day in a desperate attempt to find a floor. Its action had little effect as prices tumbled to under $34 on Friday, reflecting declining demand and rising inventories. Current market conditions did ...
The reality of plunging crude
Tuesday, December 9th, 2008 Posted in Oil | No Comments »Desperate for an upside in a downside economy, U.S. consumers have found solace in plunging oil prices, which some analysts believe may dip below $25.00 per barrel in the coming year. Crude's freefall, resulting from a commensurate reduction in global demand, is a direct ...
TradeFlow21 Editorial: Yes, Mr. President, we can build a more prosperous, secure world through Middle East trade
Sunday, November 16th, 2008 Posted in Industrial investment, Markets, Oil, Trade | No Comments »We are traders all. We barter and bargain, agree then rescind, resume and conclude negotiations for goods and services throughout our lives. We trade because we are inclined by nature to do so, regardless of how we earn our daily ...
‘Era of cheap oil is over’ — IEA
Thursday, November 6th, 2008 Posted in Oil | No Comments »Double whammy: declining oil production, beyond what the IEA had previously thought, combined with the high costs of finding new oil, compel the IEA to double its long-term price expectation ($200 oil by 2030; first things first: $100+ avg per ...
Abu Dhabi assures as UAE declares no scaling down
Friday, October 31st, 2008 Posted in Markets, Oil, Real estate | No Comments »A $60 floor for oil prices seems reasonable at this point and is still profitable for the Gulf, although not quite like it was, when nearing $150/bbl. Abu Dhabi's budget is reportedly based on $40-$50/bbl prices, while Saudi's is ...
BREAKING NEWS: OPEC to slash oil production by 1.5 million barrels per day
Friday, October 24th, 2008 Posted in Oil | 1 Comment »In what may be the first round of reductions in production, OPEC ministers agreed on Friday to cut output by 1.5 million barrels per day. With oil in a virtual free fall, even the Saudis may have finally found the ...
OPEC to meet in emergency session October 24
Saturday, October 18th, 2008 Posted in Oil | No Comments »In an entry on September 12 concerning OPEC's greatly exaggerated demise, the editors of TradeFlow21 cautioned against those who interpreted the rapidly declining price of oil, and the decision by the Saudis not to restrict output in direct opposition to ...
Is OPEC’S demise greatly exaggerated?
Friday, September 12th, 2008 Posted in Oil | No Comments »When the Saudis walked out of Thursday's OPEC meeting in Vienna to protest a decision to cut oil production in response to declining prices, which now hover just above $100 per barrel, some members of the business press and related ...
Good times continue for the GCC
Thursday, July 31st, 2008 Posted in Oil, Regional News | No Comments »2008 GDP for the GCC is set to surpass $1T (+36% yoy) along with an impressive doubling of cement capacity by 2010, not to mention similar increases expected in petrochemicals, natural gas and other industries. Economic and investment boom ...
For Saudi Aramco, sky is the limit
Thursday, July 31st, 2008 Posted in Oil | No Comments »At an estimated production cost of $2.00 per barrel, Saudi Aramco's annual net revenues are expected to top an eye-popping $200 billion. The world's largest oil producer has also set its sights on becoming a leading petrochemical manufacturer, where a ...
