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Page added on January 14, 2019

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Saudi Arabia confident cuts by OPEC and allies will balance oil market

Production

Saudi Arabia’s energy minister said on Wednesday he was confident that action to rein in output by OPEC and its allies would bring the oil market into balance, unless there was an unexpected development.

Khalid al-Falih also said he would not rule out calling for further action by the Organization of the Petroleum Exporting Countries and its allies in future, adding that market conditions looked better than a few weeks ago.

reuters



16 Comments on "Saudi Arabia confident cuts by OPEC and allies will balance oil market"

  1. Chrome Mags on Mon, 14th Jan 2019 5:36 pm 

    How does one define, ‘bring oil market into balance?’ $80 a barrel, $100, $120 or some other dollar amount?

  2. Anonymous on Tue, 15th Jan 2019 2:49 pm 

    New STEO came out today. Net exports are coming for crude and products. (Already did it for natgas.)

    “U.S. crude oil and petroleum product net imports are estimated to have fallen from an
    average of 3.8 million b/d in 2017 to an average of 2.4 million b/d in 2018. EIA estimates that the United States briefly was a net exporter of crude oil and petroleum products in November 2018. EIA forecasts that net imports will continue to fall to an average of 1.1 million b/d in 2019, and
    to less than 0.1 million b/d in 2020. In the fourth quarter of 2020, EIA forecasts the United States will be a net exporter of crude oil and petroleum products, by about 0.9 million b/d”

    https://www.eia.gov/outlooks/steo/pdf/steo_full.pdf

  3. wildbourgman on Tue, 15th Jan 2019 3:55 pm 

    Wake me up when some refinery doesn’t get it’s shipment of oil on time. Until then does it really matter if the oil is in a tank, tanker waiting to be offloaded, or the big tank underground? The perception that the oil is readily available has to be broken for a glut to truly be remedied.

  4. JuanP on Wed, 16th Jan 2019 7:34 am 

    I am back, bitches! I just got back from a surfing vacation in Costa Rica. I am recharged and refreshed, and ready to continue fucking with the Exceptionalist for the foreseeable future. Miss me much, Davy?

  5. Anonymous on Wed, 16th Jan 2019 11:12 am 

    Graphic explaining the outlook for net exports:

    https://pbs.twimg.com/media/Dw_XIq1XgAEytgy.png

    Note the disaggregation of products from crude.

  6. Davy on Wed, 16th Jan 2019 11:27 am 

    Nice graph Nony

  7. Davy on Wed, 16th Jan 2019 12:02 pm 

    IMA Nony, It’s a real tragedy for my kids that we aren’t honouring our commitment to the Paris Accords.

    We’re murdering our own children Nony. Oh well. Who gives a shit about them anyways.

    their all just a bunch of stupid dumbasses

  8. Davy on Wed, 16th Jan 2019 12:16 pm 

    Oops, sorry Nony. I forgot. YOU don’t have any kids.

    Nice graph BTW.

  9. JuanP on Wed, 16th Jan 2019 12:20 pm 

    “IMA Nony, It’s a real tragedy for my kids that we aren’t honouring our commitment to the Paris Accords.”
    Says the idiot playboy south American who just got back from surfing in Costa Rica. What a hypocrite.

    “We’re murdering our own children Nony. Oh well. Who gives a shit about them anyways.”
    Shut Up JuanP you troll. You don’t have kids because you and your wife are not responsible enough to care for kids.

  10. Davy on Wed, 16th Jan 2019 12:31 pm 

    Like all responsible parents, I let my kids camp out in the barn when they come over for a visit.

    They love that shit.

  11. JuanP on Wed, 16th Jan 2019 12:51 pm 

    “Like all responsible parents, I let my kids camp out in the barn when they come over for a visit. They love that shit.”

    I thought you didn’t have kids juanpee? What a dumbass he says he doesn’t have kids because of his great contribution to society with a stupid vasectomy but now he has kids that camp in a barn? Get real juanpee.

  12. JuanP on Wed, 16th Jan 2019 1:04 pm 

    BTW, my wife is ugly and a whore. Who would want to have kids with that.

  13. Davy on Wed, 16th Jan 2019 1:26 pm 

    Davy on Sat, 10th Mar 2018 11:51 am

    “My kids love their life here. They tell their teachers how they can’t wait to come to the farm. The RV they are staying in is in a barn next to my cabin. It is kind of like camping for them.”

  14. JuanP on Wed, 16th Jan 2019 1:42 pm 

    My mother is a whore too and her cunt stinks

  15. Davy on Wed, 16th Jan 2019 1:51 pm 

    That’s some pretty sick and demented stuff there JuanP.

    Have you ever given any consideration to counselling?

  16. JuanP on Wed, 16th Jan 2019 1:53 pm 

    I think my dad was with the school of the Americas. Not sure because I am the son of a whore. Mama told me several Americans visited here from the school

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