Thursday, February 28, 2019

Peak Oil? What Peak Oil? Global Crude Oil Supply -- A Glut -- February 28, 2019

Link here.


To say the least.

72 million bbls. 

On the producer side, OPEC inventories remain elevated, up 15 million year-on-year. Saudi says it is their country's responsibility to keep the oil market balanced -- if so, how did they let this get out of control?


  1. One would think, if the Saudi's want oil at $80, they would cut production to get it there. Problem has always been in OPEC, not all the 25 countries are motivated by the same ideals.
    Question has to be- How low do you go to get the price and at that level of production are you making the money you need.

    1. That's been a constant theme of the blog. Saudi is in deep trouble.