Tag Archives: iran

Oil Exports from the Middle East and the Price of Oil

Oil exports from the Middle East Gulf States amounted to 19.6 million barrels per day in 2013 [BP] equivalent to 22.6% of total global oil production and 43% of OECD oil consumption. The importance of the region to the well being of the global economy cannot be overstated. It is therefore pertinent to ask what risk ISIS presents to the stability of the region and its oil supplies. History has some clues. Continue reading

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MENA War Fever and the Iraq Oil Price Spike

Sunni terrorists active in Sunni-majority regions therefore only have a potential spoiler role in the absence of airborne and long-distance surface attack on oil production infrastructures, for example by making pipeline and refinery attacks. Continue reading

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Blowout week 24

“The usual western media branding of “terrorism” or “sectarian violence” no longer applies to the actions of ISIL in Iraq. A force capable of withstanding and win an urban battle in a city of over 1 million inhabitants is not a terrorist group, not even a guerilla, it is an army, fighting a conventional war.” Luis de Sousa Continue reading

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Blowout week 21

Gazprom’s chairman has describing Europe’s energy shortage as “scary” and ridiculed the EU’s push for wind and solar power as a shambles. Continue reading

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OPEC crude oil production capacity

OPEC crude oil production spare capacity stood at just over 5 million barrels per day (Mbpd) in December 2013 according to the International Energy Agency (IEA). OPEC total production capacity stands at 35 Mbpd, a plateau level first reached in 2009. Continue reading

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OPEC oil production update July 2013

OPEC production has been bumping along a plateau of around 35 million bpd since 2005, that is despite prolonged record high oil prices. Continue reading

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Blowout week 48

This week in Blowout: UK: The argument over high energy prices rumbles on. The government contemplates reducing support for energy efficiency targets – which in my opinion seems to be the exact wrong course to take. Oil companies contemplate delaying … Continue reading

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