COMMENTS: The many years of external and internal conflict in Iraq has resulted in impoverishment of the masses. Now, Basrah, the center of southern oil production is in turmoil as riots are spreading demanding jobs in the oil producing sector. So far one demonstrator has been shot by Continue reading “Iraq Demonstrations Impact Oil Production”
If you wish to buy a television set, and your country doesn’t manufacture TV’s, you need to first find the currency of the manufacturing country. The TV manufacturer wants to be paid in his currency with which he incurred his production costs, and his profit will be spent on his living expenses. The only way you can get his currency is if Continue reading “The Gulf Oil Economies Dilemma”
It Seems the oil producing countries are beginning to sweat. It finally dawned upon them that their oil revenues are in trouble, and turbulent, if not perilous, financial times are ahead. Continue reading “Selling the Family Heirlooms?”
DAILY BASKET – NEWS COMMENTARY
UAE Increases Oil Production Cut Above Its Quota
MARSAL COMMENTS: UAE will cut oil production between 200,000 and 280,000 barrels per day in March and April. This is above its OPEC Continue reading “UAE Increases Oil Production Cut Above Its Quota”
OIL PRICE – WHERETO?
OPEC announced on Nov 30, 2016 an agreement to cut its total oil production by 1.2 Million barrels per day to bring it to 32.5 mill b/d, as off Jan 2017. Overnight, Brent oil price spiked by 9% to around US$ 52. The next step is for OPEC to obtain and extra reduction of 600,000 b/d from Non-OPEC producers. Continue reading “OIL PRICE – WHERETO?”