Crude Oil
- Thread starter bone
- Start date
https://srsroccoreport.com/middle-east-oil-time-bomb-collapse-of-net-oil-exports/
Since 1975, Middle East net oil exports have only increased by 4 mbd. The huge drop in the Middle East net oil exports during the early 1980s was temporary, but domestic consumption continued to grow and will become more of a factor in the region as oil production peaks and declines. If we go back and look at the Middle East oil consumption chart above, we will notice that domestic oil demand was not impacted by the global recession in 2008-2010. Interestingly, overall Middle East oil consumption increased by 1 mbd from 2007 to 2010.
So, the real danger for the Middle East will occur when oil production peaks and declines while domestic consumtion continues to increase. This will be a double-edged sword for the Middle Eastern Governments as they will be forced to cut public spending as oil revenues fall.
EV's can't become Mainstream Fast enough it seems
Since 1975, Middle East net oil exports have only increased by 4 mbd. The huge drop in the Middle East net oil exports during the early 1980s was temporary, but domestic consumption continued to grow and will become more of a factor in the region as oil production peaks and declines. If we go back and look at the Middle East oil consumption chart above, we will notice that domestic oil demand was not impacted by the global recession in 2008-2010. Interestingly, overall Middle East oil consumption increased by 1 mbd from 2007 to 2010.
So, the real danger for the Middle East will occur when oil production peaks and declines while domestic consumtion continues to increase. This will be a double-edged sword for the Middle Eastern Governments as they will be forced to cut public spending as oil revenues fall.
EV's can't become Mainstream Fast enough it seems
Thanks for sharing, nice perspective.
Steve is a Oil freak... He dedicates massive time into research, good go to website for non mainstream updates in Oil industry and Metals
*clucks* Once the Permian explosion fades, oil is going to rocket. It is not now, but it is coming.
Because all the jemokes out there who think that going all-electric car will kill oil prices are going to be in for a shock. Especially when they want to buy a new toothbrush in the year 2120. Plastic toothbrush? That will be $400,000 please.
Because all the jemokes out there who think that going all-electric car will kill oil prices are going to be in for a shock. Especially when they want to buy a new toothbrush in the year 2120. Plastic toothbrush? That will be $400,000 please.
Oil Prices Jump on New Iran Sanctions
The State Department is ending a waiver program that let eight countries, including China and India, continue to purchase oil from Iran despite sanctions while they sought other sources of supply. The move is part of a U.S. effort to tighten the economic screws on Iran, and caused the price of crude oil futures to increase more than 3 percent. Reuters
The State Department is ending a waiver program that let eight countries, including China and India, continue to purchase oil from Iran despite sanctions while they sought other sources of supply. The move is part of a U.S. effort to tighten the economic screws on Iran, and caused the price of crude oil futures to increase more than 3 percent. Reuters