Energy, news, politics, posters, threads, whatever.
To make it legal in the public forum I'll start with, of course, the top 5 PO stories.
1) The glut continues
Numero Uno of course
2) OPEC pumps all out
not that they paid a lot of attention anyway but the official quota always tracked the WTI price until this year, now they don't even have a quota.
3) Crude Ban Lifted
Much of the turmoil of the last few fracking years has been about the glut of LTO in the US, especially after the refiners had spent billions retooling in anticipation for peak oil and increasing amounts of heavy, x-heavy and tar. The additional light oil has had a direct effect on OPEC and KSA because Arabian Light was what we imported from them.
We no longer do.
Could be the reason they are worried about "market share" over price, they lost 3-4mmbd of "market" to LTO
Every representative of the drilling fraternity says lifting the ban will have no effect on price.
Of course every refiner (the driller's client) says it will raise the price.
We'll see.
http://fuelfix.com/blog/2015/12/15/lift ... -refiners/
4) US demand rebounds
Consumption peaked in in the US in 2007 then fell until last year. But when the glut took over and the price fell, consumption came back big time, in August it was the highest since ... 2007.
So, sorry, no Peak Demand.
5) Oh Yeah: Peak Conventional Oil
The amount of conventionally produced, plain old crude has barely moved in 10 years, via IEA and CrudeOilPeak.info
