Tag Archives | OPEC

Bricklaying In Australia And Oil Prices: Important Similarities

By John Richardson

THE bricklayer came around to my house three years ago, quickly surveyed the extent of the job, drew a sharp breath, and said, “It’s going to cost you at least Aus$4,000.” And that was after a four-week …

Continue Reading
EIA

Oil Prices Over The Next Six Months: What You Need To Know

By John Richardson

SURPRISED by the latest decline in crude prices following the US Energy Administration’s (EIA) report that more oil went in to storage last week than in any other week in 34 years?

You really shouldn’t be if …

Continue Reading

Oil Prices: When The Facts Don’t Matter

By John Richardson

HERE are first of all the facts from the latest International Energy Agency (IEA) report:…

OPEC production hit a record high in September of 33.64m bbl/day. Iraq produced more oil than ever, while Libya reopened oil ports.

Continue Reading

The OPEC “Deal”: What It Really Means

By John Richardson

THE OPEC decision to cut oil production for the first time since 2008, if indeed it does amount to a real cut in production, could end up being self-defeating.

As I discussed last month, US shale oil …

Continue Reading

Deflation Threatens Asia’s Ethylene-Polyethylene Link

By John Richardson

AS you can see from the above chart, ever since April 1997, when we first started providing price quotes for spot Northeast Asian (NEA) high-density polyethylene (HDPE) film grade, it has been spot ethylene rather than spot …

Continue Reading

Saudi Arabia and Oil: A Lesson For Polypropylene

By John Richardson

POLYPROPYLENE (PP) producers and their customers, the plastic converters, are on the cusp of a great opportunity.

Let’s start with the producers. The potential for low-priced propylene for several years to come will push PP prices down, …

Continue Reading

Oil Market Muddle Continues Because Of Wrong Focus

CONFUSED? You will remain confused by oil markets as long as you continue to only look at physical supply and demand.

Here is my long, but I think essential, historical explanation about why I think this is the root of …

Continue Reading

Five Misunderstandings About Oil And Maybe A Sixth One

By John Richardson

THE first misunderstanding about oil prices, which everyone now accepts was wrong, arose because people took too much notice of existing cost-per-barrel economics and so assumed that from October of last year, the US would close down …

Continue Reading

OPEC, Human Nature And A $55 Brent Forecast

By John Richardson

HERE is a quote for you: “Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted.”

This supports the argument we have been making over the last two months that human …

Continue Reading

Crude Oil: How To Avoid A 2015 Budget Disaster

By John Richardson

IF I knew the outcome of today’s crucial OPEC meeting in Vienna well, of course, I wouldn’t have to write this blog post to make a living.

But what I do know is that oil markets, now …

Continue Reading