This blog is part four of a series that explores the intricate history of oil. 1973-1994: The Middle East Shrugs its Shackles It is important to understand that the oil industry is largely a Western invention and is very much American led. When America began making overtures to King Ibn Saud of Saudi Arabia in […]
With oil prices at six-year lows, energy producers are expected to cut spending in the United States by as much as 35%, according to Cowen and Co. Many organizations will be restructuring and resizing, with a focus on making the remaining resources more effective. Companies that act resolutely in light of these market realities, rather […]
Dateline January 2015: The Perilous Plummet The week of January 26, 2015, saw the price of a barrel of oil drop below $45. It has been a perilous plummet from a high of $100.52 just six months ago. If you ask a Goldman Sachs trader, they may tell you the price will probably continue to […]
There is a lot riding on India’s new government. Tired of a lackluster economy, Indians have single-mindedly elected the BJP — led by Narendra Modi–in the hope that he will do what it takes to rev up the country’s engines. Energy is obviously going to play a critical role as India’s economy shifts gear. So, […]
When discussing oil, the Middle East immediately comes to mind. It is at the core of multiple current events occurring in the world, politically, religiously, economically, and in the energy market; therefore, it is no surprise that at the Platt’s Global Crude Oil Summit, there will be a session dedicated solely to core trends in […]
Since energy products are the backbone of the economy and are widely used by all sectors, the general belief is that a rise in energy commodity prices in translates to an increase in the price of non-energy commodities, such as metals and agricultural products. To assess the validity of this common belief, we’ll review two […]
Energy economist Phil Verleger has been waging a steady war against the argument that “too much” trading of energy futures contributes to higher prices. To the contrary, as he has written many times, in the long run it will contribute to lower prices, and current government efforts to curb speculation by diminishing volume is laying […]
The fiscal cliff in the United States was the hot topic surrounding domestic economic policy throughout 2012, as my colleague Ian Mathieson discussed in his year in review last December. It is safe to say that the same was true for this year as well. The global markets were once again on their toes observing […]
Recently, while writing short updates about the energy and commodities markets for ZE’s DataWatch magazine, I noticed a trend: many price reporting agencies (PRAs) have been updating their oil price assessment calculation methodologies to reflect the large number of deals done in the Asia-Pacific region. Wanting to find out more, I delved into researching price […]
In the last 20 years, demand for oil and natural gas in Turkey has increased exponentially, and the country has developed into a significant consumer within the energy markets; however, the demand conditions coupled with insufficient natural resources have spiked Turkey’s energy import bill to alarming levels. The International Energy Agency (IEA) anticipates Turkey’s energy […]