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US to start exporting crude oil?
US federal rules and the country’s dependency on imports have kept all but a trickle of crude from leaving the US. Shale could change this. Indeed, Shell, BP and Vitol, are among six companies known to...
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Another longer-term bearish Oil reality
One reason Oil isn`t lower currently is there has been a lot of increased Oil storage for newly built capacity in China and the US. For example, Cushing Oklahoma has a storage capacity of just over 60...
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When oil was at $30
When oil was at $30 OPEC had 4-5mbd of spare capacity, equivalent to around 5%-6% of global demand. By 2006, OPEC had only 1mbd spare, about 1% of demand. The oil price then doubled. Spare-capacity...
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Brent Oil (in Euros) down 10% since September
While many point out the fact Brent is at multi-month highs, convert the currency to €s and you will find it is still c10% below where it was in September last year. Move out the curve to 2017, and...
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Regarding excess Liquidity, remember this rule
“In a world of fiat currency debasement, own those assets where supply can’t replicate as fast as the money they are priced in”. This is not ALL commodities. It is not oil as there is no longer a...
View ArticleWhy large-cap Integrated European Oil Co’s face structural declining returns
Remain seller of Shell, Total and Statoil Our thesis has been based on the idea Shale liquids and the lower feedstock prices such brings, puts American exporters of LNG and Product (distillate,...
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