There is no under-estimating the impact of shale oil on the US. The US Energy Information Administration (EIA) has reported that the USA now produces 8.7 million barrels of crude oil per day, up from 5.5 million in 2010. Virtually all the increase is attributable to the growth of the shale oil boom. Gross inputs […]
The development of the shale oil industry in the USA has come about because of the use of new technologies such as hydraulic fracturing, otherwise known as fracking. Fracking is a subject that has stirred a lot of debate, with environmental groups expressing concerns about the impact on the soil and ground water sources. I […]
When crude oil prices fell by half over the second half of last year, it was partly because OPEC and especially Saudi Arabia decided to maintain production levels. Somewhat similar to what is happening in iron ore, it was said that the Saudis were looking to drive marginal players out of the crude oil […]
Saudi Arabia’s response to falling crude oil prices appears to be one of “toughing it out”, but this strategy could backfire on them. The world has been watching for a response from OPEC and Saudi Arabia in particular, as crude oil production continues to ramp up, thanks to the huge increases in USA domestic shale […]
… in oil imports. A Financial Times article has illustrated the shift in crude oil and energy dynamics caused by the shale oil phenomenon combined with China’s growing prosperity. Quoting the energy Information Administration (EIA), the FT points out that China now imports more crude oil than the USA. China now runs at 57% […]
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