gas

Enercom day 2

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Chief Oil Economist DNB Bank  Global View on Oil Market Most unplanned shutdowns since 2011. Opec cut production but did not cut exports. OPEC exported from inventory so inventory drew down. US rig count increased 10 rigs week versus their estimate of 5 OPEC Waterborne Crude exports have come down Saudi Arabia had drawn down 33% of its foreign reserves Demand growth is surprising to the upside Stock draws if OPEC deliver according to our base case Shale growing massively in the US Not in oversupply any longer on the global picture US Shale needs 400k barrels per day to … Read more

Day 1 Enercom Denver

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This year’s annual ritual, the Enercom Oil and Gas conference in Denver, kicked off with a recurring theme: Commodity prices are low, producers are lowering costs, and producing more. Nothing here to make you want to jump on the black gold bandwagon. But then again, the world is a dangerous place, probably becoming more dangerous and the global supply of hydrocarbons could be disrupted. The mood is somber and nothing remotely like a “trumped-up oil and gas frenzy.  Until something disrupts or dampens supply, we believe all rallies in this space should be sold.  WTI under $50 is not a … Read more

Population growth will drive commodity demand

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BOUT DOT EARTH By 2050 or so, the human population is expected to reach nine billion, essentially adding two Chinas to the number of people alive today. Those billions will be seeking food, water and other resources on a planet where, scientists say, humans are already shaping climate and the web of life. In Dot Earth, which recently moved from the news side of The Times to the Opinion section, Andrew C. Revkin examines efforts to balance human affairs with the planet’s limits. Conceived in part with support from a John Simon Guggenheim Fellowship, Dot Earth tracks relevant developments from … Read more