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Keyword: opec

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  • The Era Of Cheap Oil Has Come To An End

    12/19/2022 2:36:21 PM PST · by george76 · 42 replies
    Oil Price ^ | Dec 18, 2022 | Irina Slav
    The recent crude price slump may not be indicative for what is to come in oil markets according to several investment bank analysts. OPEC has not consistently produced more than 30 million bpd since 2015-2018. Structural underinvestment in new oil supply may lead to structurally higher prices. ... In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort...
  • EU Strikes Deal on World-First Carbon Border Tariff

    12/13/2022 9:34:31 AM PST · by Oldeconomybuyer · 16 replies
    Reuters via US News ^ | December 13, 2022 | By Kate Abnett
    BRUSSELS (Reuters) - After all-night negotiations, the European Union struck a political deal on Tuesday to impose a carbon dioxide emissions tariff on imports of polluting goods such as steel and cement, a world-first scheme aiming to support European industries as they decarbonise. Negotiators from EU countries and the European Parliament reached a deal at around 5am in Brussels, on the law to impose CO2 emissions costs on imports of iron and steel, cement, fertilisers, aluminium and electricity. Companies importing those goods into the EU will be required to buy certificates to cover their embedded CO2 emissions. The scheme is...
  • Biden to Visit Saudi Arabia and Beg ‘Pariah’ to Pump More Oil after Shutting Down U.S Production

    06/14/2022 8:46:39 AM PDT · by grundle · 40 replies
    Slay News ^ | June 14, 2022 | David Hawkins
    Democrat President Joe Biden has caved and will visit Saudi Arabia and Crown Prince Mohammed bin Salman to beg the kingdom to pump more oil. The move comes after the president has shut down domestic output, leading, in part, to soaring gas prices. As gas prices skyrocket to record highs across the country, Biden may view the trip as a chance to save his presidency. However, it could still backfire if Biden can’t get the Saudis to dramatically increase production Biden may have to go with his tail between his legs when he meets Prince Salman as, during his campaign,...
  • President Xi’s 3-day visit aims to boost Saudi-Chinese diplomatic, trade ties

    12/06/2022 12:57:58 PM PST · by nickcarraway · 2 replies
    Arab News ^ | December 06, 2022
    Chinese President Xi Jinping is due to arrive in the Kingdom on Wednesday for a three-day visit during which he will meet Saudi and Arab leaders. Three summits will take place during his trip: the Saudi-Chinese Summit, the Riyadh Gulf-China Summit for Cooperation and Development, and the Riyadh Arab-China Summit for Cooperation and Development. The participants will include more than 30 leaders and officials from the two countries and international organizations, highlighting the importance of the gatherings and their high regional and international profile, the Saudi Press Agency reported. Xi’s visit reflects the desire of the leaderships of Saudi Arabia...
  • Russia rejects $60-a-barrel cap on its oil, warns of cutoffs

    12/03/2022 10:41:52 AM PST · by Mariner · 76 replies
    AP via Yahoo ^ | December 3rd 2022 | JAMEY KEATEN
    YIV, Ukraine (AP) — Russian authorities rejected a price cap on the country's oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it.Australia, Britain, Canada, Japan, the United States and the 27-nation European Union agreed Friday to cap what they would pay for Russian oil at $60-per-barrel. The limit is set to take effect Monday, along with an EU embargo on Russian oil shipped by sea.Kremlin spokesman Dmitry Peskov said Russia needed to analyze the situation before deciding on a specific response but that it would not accept the price ceiling. Russia's permanent...
  • Biden Says Refilling Oil Reserve at $70 Per Barrel Will Make Money – Trump Wanted to Refill Reserves When Oil Was $24/Barrel, But Democrats Blocked Him (VIDEO)

    10/19/2022 11:56:15 AM PDT · by Macho MAGA Man · 13 replies
    The Gateway Pundit ^ | October 19, 2022 | Cristina Laila
    When things are bad, it’s Putin’s fault. “I have been doing everything in my power to reduce gas prices since Putin’s invasion of Ukraine caused prices to spike,” Biden said. ....snip..... Biden also absurdly claimed he will be refilling the oil reserve at $70 a barrel to make money. “By selling from the [oil reserve] at the higher price of $90 earlier this year and then re-filling it in the future at a lower price around $70 will actually make money,” said Biden. Just two years ago the Democrats blocked President Trump from filling the Strategic Oil Reserves at $24...
  • Russia says it won't accept oil price cap and is preparing response

    12/03/2022 7:10:11 AM PST · by Oldeconomybuyer · 21 replies
    Reuters via Yahoo ^ | December 3, 2022 | By Caleb Davis and Mark Trevelyan
    (Reuters) -Russia "will not accept" a price cap on its oil and is analysing how to respond, the Kremlin said in comments reported on Saturday, in response to a deal by Western powers aimed at limiting a key source of funding for its war in Ukraine. Kremlin spokesman Dmitry Peskov said Moscow had made preparations for Friday's price cap announcement by the Group of Seven nations, the European Union and Australia, the Russian state news agency TASS reported. "We will not accept this cap," RIA news agency quoted him as saying. He added that Russia would conduct a rapid analysis...
  • Fed Dead Redemption! Blackstone’s $69 Billion Real Estate Fund Hits Redemption Limit (Equity REITs DOWN -23.6% In 2022, Mortgage REITs DOWN -28.6%)

    12/03/2022 7:39:19 AM PST · by Kaiser8408a · 8 replies
    Confounded Interest ^ | 12/03/2022 | Anthony B. Sanders
    As The Federal Reserve continues its assault on inflation by raising their target rate, Blackstone Inc.’s $69 billion real estate fund for wealthy individuals said it will limit redemption requests, one of the most dramatic signs of a pullback at a top profit driver for the firm and a chilling indicator for the property industry. Blackstone Real Estate Income Trust Inc. has been facing withdrawal requests exceeding its quarterly limit, a major test for the one of the private equity firm’s most ambitious efforts to reach individual investors. The news, in a letter Thursday, sent Blackstone stock falling as much...
  • US determines Saudi Crown Prince is immune in case brought by Jamal Khashoggi’s fiancée

    11/28/2022 1:18:27 PM PST · by Attention Surplus Disorder · 23 replies
    CNN ^ | 11/18/22 | Alex Marquardt, CNN
    The Biden administration has determined that Saudi Arabia’s Crown Prince, Mohammed bin Salman, should be granted immunity in a case brought against him by the fiancée of Washington Post journalist Jamal Khashoggi, whom the administration has said was murdered at the prince’s direction. A court filing was made by Justice Department lawyers at the request of the State Department because bin Salman was recently made the Saudi prime minister and as a result, qualifies for immunity as a foreign head of government, the request said. It was filed late Thursday night, just before the court’s deadline for the Justice Department...
  • Op-Ed: Free food for all? Absolutely. In this age of abundance, it should be a human right ["If some processing plants, distribution warehouses and retailers were owned by government"]

    11/27/2022 9:53:32 AM PST · by grundle · 87 replies
    Los Angeles Times via Yahoo ^ | November 27, 2022 | Chloe Sorvino
    One way to do that would be to restructure some food companies, distribution warehouses and retailers as a public utility, like how the energy grid, sewers and water delivery are managed. If some processing plants, distribution warehouses and retailers were owned by government, they could use subsidies to buy grains, legumes like beans and meat directly from farmers, and the resulting goods could be made available free to everyone. Programs could alternatively take the form of universal school meals and open-to-all cafeterias that serve meals throughout the day.
  • Inflation Nation! Producer Price Index (PPI) Final Demand At 8% YoY In October (Cryptos Rallying On Isolation Of FTX)

    11/15/2022 9:30:17 AM PST · by Kaiser8408a · 1 replies
    Confounded Interest ^ | 11/15/2022 | Anthony B. Sanders
    The US is an inflation nation under Beijing Biden. Today, the PPI Final Demand YoY index printed for October was still agonizingly high at 8% YoY (The Fed likes to see 2% for inflation). True, PPI Final Demand YoY is down from its recent peak of 11.7% YoY in March. But notice that M2 Money YoY (liquidity) has collapsed following the Covid surge (green line). Then I have this update on Sam Bankman-Fried of FTX and Alameda Research notoriety. As Sam Bankman-Fried’s crypto empire imploded last week, costing him effectively all of his $15.6 billion fortune, other digital-asset billionaires sought...
  • End fossil fuels and you end the country. And Christmas

    11/15/2022 8:25:49 AM PST · by Starman417 · 16 replies
    Flopping Aces ^ | 11-14-22 | DrJohn
    There are pledges and there are pledges. Some are realistic, others are not. Some are pure fantasy and are best left that way. Remember Joe Biden's pledge from 2019? “I want you to look at my eyes. I guarantee you, I guarantee you we’re going to end fossil fuels.” He repeated it recently "There is no more drilling. I haven't formed any new drilling," I guarantee you it won't happen. Were it possible, there would be no Christmas. Were it possible, you most likely would die and so would your kids. Facts are stubborn things. Joe Biden is determined to...
  • Incoming Israel PM Netanyahu: Normalizing Israeli-Saudi Relations Would End Arab-Israeli Conflict

    11/11/2022 9:28:32 AM PST · by SeekAndFind · 14 replies
    Foreign Desk ^ | 11/11/2022 | ELLIOT NAZAR
    Incoming Israeli Prime Minister Benjamin (Bibi) Netanyahu said Wednesday that a normalization agreement between Israel and the Kingdom of Saudi Arabia is within reach and would effectively “end the Arab-Israeli conflict.” The latest statement from the Prime Minister comes as the new conservative coalition vows to confront terrorism in the Middle East and strengthen alliances with Arab allies. Speaking from Israel at an online event hosted by Temple Emanu-El’s Streicker Center, Netanyahu reminded an online audience of nearly 300 people that the Abraham Accords were negotiated by the former Trump administration when he was Israel’s prime minister. The Accords normalized...
  • Biden expected to announce stronger proposed methane regulations for oil and gas at climate conference

    11/11/2022 5:59:55 AM PST · by ChicagoConservative27 · 21 replies
    The Hill ^ | 11/11/2022 | RACHEL FRAZIN
    President Biden is expected to announce a proposal for stronger regulations on the oil and gas sector aimed at controlling emissions of a planet warming gas called methane. The stronger methane regulations are part of a slew of climate-related actions that Biden is expected to announce during his trip to the COP27 global climate summit in Egypt. The Environmental Protection Agency (EPA) projects that in 2030, the requirements would cut 87 percent of methane emissions from the pollution sources that it regulates when compared to 2005 levels. The proposal strengthens a Biden administration proposal from last year that was expected...
  • Nolte: Biden Plans to Skedaddle to Egypt Thursday

    11/08/2022 11:04:21 AM PST · by ChicagoConservative27 · 41 replies
    Breitbart ^ | 11/08/2022 | JOHN NOLTE
    His Fraudulency Joe Biden is refusing to commit to a post-midterm press conference and will be fleeing the country a little over 36 hours after polls close on Election Day. Just ten days ago, and likely due to the fact that the red wave writing was clearly on the wall by then, the White House announced Biden would leave Thursday for Egypt to attend something called the COP 27, a globalist thing involving the corrupt United Nations and dedicated to furthering the Climate Change Hoax.
  • Oil Supertanker Grounded in Indonesia Will Take a Month to Free

    11/07/2022 5:58:04 PM PST · by nickcarraway · 4 replies
    Channel News Asia ^ | 07 Nov 2022
    Indonesian authorities said on Monday (Nov 7) it could take up to a month to free a crude oil tanker stuck in its waters, while the United States slapped sanctions on the vessel for alleged links to Hezbollah and a branch of Iran's Revolutionary Guards. The Indonesian navy has been trying to free the Djibouti-registered vessel, Young Yong, which ran aground off Indonesia's Riau Islands on Oct 26. The US last week issued sanctions against an international oil smuggling network it said supports Hezbollah and Iran's Quds Force, targeting dozens of people, companies and tankers as Washington sought to mount...
  • Nancy Pelosi hopes some last-minute economic gaslighting will save her Speaker's gavel

    11/07/2022 6:52:06 PM PST · by NetAddicted · 15 replies ^ | 11/7/2022 | Doug P
    Depending on which polls you look at, the Democrats are almost certain to lose the House tomorrow and might even lose control over the U.S. Senate: <@InteractivePoll tweet projecting huge Red Wave tomorrow> Sensing a midterm disaster (and a loss of power), Speaker Pelosi is resorting to a tactic that’s also been adopted by the Biden administration: Gaslighting like crazy. Who are you going to believe, your lying bank account, gas & grocery bills, or Nancy Pelosi: Oh please. And of course the Democrats have no interest in power (cue massive eye roll). Pelosi is funny, just not “ha ha”...
  • KJP doubles down on Biden’s coal remarks being ‘twisted,’ claims ‘it was loud and hard to hear’ them

    11/07/2022 12:25:46 PM PST · by Red Badger · 33 replies
    twitchy ^ | Posted at 3:10 pm on November 7, 2022 by Sarah D
    Hey, so remember that time the other day when President Joe Biden promised that “we’re gonna be shutting these [coal] plants down all across America”? VIDEO AT LINK............... Remember how the following day, Biden’s press secretary Karine Jean-Pierre attempted — quite poorly — to walk Biden’s remarks back? She claimed that his remarks had “been twisted” by people with bad intentions, and that he was really and truly and sincerely sorry if anyone took his comments to mean that he was promising to shut down coal plants when he said he’d shut down coal plants. “I apologize if you were...
  • Down The Stretch: Independents, Women, Even Media Desert Biden

    11/07/2022 8:47:17 AM PST · by Diana in Wisconsin · 30 replies
    Off The Press Blog ^ | November 7, 2022 | OffThePress Staff
    At a glance Four days from Election Day, Democratic pollster John Zogby said that Republicans maintain “a clear advantage” with voters. Women are deserting Democrats – one of the most striking midterm developments – and even the friendly media is questioning Biden and his mental competence. “It’s the House and Senate Republicans that are making the most gains on issues including inflation, crime, and immigration,” Zogby said. Rasmussen Reports noted that Biden also is losing a slew of independent voters. “The Republican lead is due mainly to a 13-point advantage among independent voters,” Rasmussen said. “Among voters not affiliated with...
  • Ahead Of Midterm Elections, Biden Snaps At Rally: ‘No More Drilling! There Is No More Drilling!’

    11/07/2022 5:44:09 AM PST · by Red Badger · 52 replies
    Daily Wire ^ | NOVEMBER 7, 2022 | Staff
    President Joe Biden (D) snapped at a young woman who attended a political rally that he hosted on Sunday at Sarah Lawrence College in New York for gubernatorial candidate Kathy Hochul. “No more drilling. There is no more drilling,” Biden snapped at a young woman in the crowd. “I haven’t formed any new drilling.” “There are at least five more years of offshore drilling,” the woman shouted back. “— in the Atlantic or the Pacific but in the Antarctic and off the gulf of New Mexico.” “That was before I was president,” Biden responded. “We’re trying to work on that...