Publications: The Petroleum Economics Monthly
The thought that they might create a huge incentive for oil drillers likely never crossed the minds of the oil ministers from OPEC and non-OPEC nations who met first in Algeria last fall, then in Vienna in May, and finally in St. Petersburg in July. They did, however. These ministers literally invited investors to pour billions into funding short-cycle drilling projects undertaken by numerous "non-legacy" oil companies. The consequence has been an unexpected increase in US oil production, a boost that could come close to offsetting the output reductions by the OPEC and non-OPEC producing nations that make up what we’ve been calling the Vienna Group. The investor response, along with the reaction of consumers to the prospect of higher fuel prices, has mostly negated the impact of the Vienna Group’s production cuts. As a result, oil prices have essentially gone nowhere. This report delves into the details of this situation and the market implications.
- The Petroleum Economics Monthly
- The Failure of Traditional Oil Market Fu...
- Will Investor Aversion Bring Higher Oil ...
- The Hedge Fund War on Fracking (August 2...
- IMO 2020: Implications for Crude (Januar...
- Understanding Price Behavior During Oil ...
- $200 Crude, the Economic Crisis of 2020,...
- IMO 2020: Economic Prospects (June/July ...
- Brent Is Dated (November/December 2017)
- The United States: Center of the Global ...
- A Tale of Two Markets (September 2017)
- The Triumph of Markets (August 2017)
- Twilight of Big Energy (July 2017)
- Failure to Learn from History: The Produ...
- A Lesson in Disruption (May 2017)
- Putting a Finger in the Oil Market Dike ...
- Oil's Johnny One-Note (March 2017)
- The Don Quixotes of Oil (February 2017)
- Markets Take Over (January 2017)