Tag Archives: fort mcmurray

Oil Production Vital Statistics August 2016

World total liquids bounced by a further 790,000 bpd in July partly on the back of continued recovery in Canada. Total liquids now stand at 97.01 Mbpd, down a meagre 70,000 bpd since July 2015.

The oil price staged a modest cyclical rally in August to close at $48.5 (Brent) on August 19th. Robust production from OPEC and Russia combined with large inventories hanging over the market makes me inclined to agree with Art Berman who speculates that prices will remain range bound between £38 and $52 in the near term. Continue reading

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Oil Production Vital Statistics June 2016

The big news in May’s production figures is Canada down 620,000 bpd in the wake of the Fort McMurray wild fire, Nigeria down 250,000 bpd in the wake of civil unrest on the Niger Delta and Libya down 80,000 bpd as that country disintegrates in the wake of western intervention in its civil war.

Global total liquids production was down 760,000 bpd in May and while the oil price was perky, getting above $50 in early June, it has not really responded to any of those events. Continue reading

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Blowout Week 124

This week’s Blowout features one of the storage options for intermittent renewable energy – the electric vehicle that discharges back into the grid. Nissan and Enel are about to launch a 100-vehicle pilot project that will charge from and discharge … Continue reading

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Blowout Week 123

A few careless campers who forgot to extinguish their campfire, or maybe a few kids playing with matches, or a cigarette, or an arsonist, a piece of glass, whatever, have in the last few days done more to bring the global oil market back into balance than OPEC and the rest of the world’s producers put together. Continue reading

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