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  • OPEC suggests $200/bbl oil

    OPEC used to believe that its fortunes were tied to the health of the global economy. But as I noted last month , its current policy is more reminiscent of ‘the difficult times of 1973/4 and 1989.80’. The evidence for this statement is mounting. Saudi Oil Minister, Ali Naimi, said recently that the Kingdom...
    Posted to ICIS Blogs (Weblog) by Anonymous on 04-30-2008

  • OPEC holds production as oil prices rise

    OPEC today decided to hold oil production at current levels, even though prices are at a level which clearly threaten economic growth. They even recognised this risk in their statement , ‘highlighting the economic slowdown in the USA, which together with the deepening credit crisis in financial markets...
    Posted to ICIS Blogs (Weblog) by Anonymous on 03-05-2008

  • 4 issues driving today’s oil price

    Quietly, oil has moved back to the $100/bbl level . This is quite different from January, when it first hit the magic $100/bbl number. Financial players had jumped on the trend from November as crude rose above $80/bbl, and then wanted to ‘get out at the top’. Their thinking was that a US recession would...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-21-2008

  • The law of unintended consequences

    There’s an interesting article on Bloomberg, suggesting that the US Fed’s dramatic interest rates reductions are ‘ driving Asia’s governments back to controlled economies’ . Its argument is that by cutting rates, Bernanke is ‘limiting his Asian counterparts’ ability to curb inflation'. It goes on...
    Posted to ICIS Blogs (Weblog) by Anonymous on 02-19-2008
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