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Abu Dubai National Oil Company to Use Blockchain For Oil Tracking

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The Quickly Changing Global Oil Markets – Dan Eberhart

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How quickly things can change in oil markets. A month ago the industry was fixated on Iran sanctions, possible supply shortages and a lack of global spare production capacity  issues that drove benchmark Brent oil prices over $86 a barrel in early October. Fast forward to now: Brent is down 20% to around $66 a barrel while US benchmark West Texas Intermediate (WTI) is at about $56 a barrel. Saudi Arabia is calling for 1 million barrels per day of production cuts from its OPEC peers and non-OPEC allies, led by Russia, from 2019. So what’s changed? A lot…………

Read more: https://www.forbes.com/sites/daneberhart/2018/11/16/the-quickly-changing-global-oil-markets/#1d36b9863cb2

 

 

 

 

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Crypto and Oil Market Slumps Are Sign of Approaching ‘Flash Crash’ in Markets – Ana Alexandre

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Analysts from Bank of America Merrill Lynch have said that the crash in cryptocurrency and oil markets are indicators of a looming “flash crash” in markets, Reuters reported Nov. 16. The strategists reportedly suggested that rising volatility across various asset classes and deleveraging, such as that which happened in oil markets over the past weeks, are signs of the evolution of a bear market. On Nov.14, Bitcoin (BTC) price slumped below $5,400, while total market capitalization of all cryptocurrencies dropped as low as $174 billion. The price dive marked a new volatility record for markets this year…………..

Read more: https://cointelegraph.com/news/report-crypto-and-oil-market-slumps-are-sign-of-approaching-flash-crash-in-markets

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China Stops Buying U.S. Oil, Two Months After Record Total – Ken Roberts

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China has turned off the U.S. oil spigot. A response to the full-on trade war between the United States and China, it is a both a stunning turn-around, coming just two months after record exports there, and a stark reminder of the difference between what it means to live in a free country and one that is not. In 2017, China accounted for 20 percent of all U.S. oil exports. It played an out-sized role in the United States’ fastest-growing significant export and trailed only Canada for market share…….

Read more: https://www.forbes.com/sites/kenroberts/2018/10/18/china-stops-buying-u-s-oil-two-months-after-record-total/#2beb67655d00

 

 

 

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Norway’s Equinor Shows Big Oil Can Survive Putting A Price On Carbon – Christopher Helman

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Norway, thanks to decades of oil and gas drilling in its coastal waters, has the world’s largest sovereign wealth fund, with more than $1 trillion in invested assets. That’s equivalent to roughly $200,000 for each of the 5.2 million Norwegians. Rare among those struck with the “resource curse,” Norwegians feel kind of sheepish about owing their birthright to fossil fuels. Among the world’s most zealous environmentalist states, Norway has pledged to become “climate neutral” by 2030, and has imposed all manner of emissions trading and carbon taxes to get there…….

Read more: https://www.forbes.com/sites/christopherhelman/2018/10/12/norways-equinor-shows-big-oil-can-survive-putting-a-price-on-carbon/#5cd5b73a5c05

 

 

 

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What Oil at $100 a Barrel Would Mean for the Global Economy – Enda Curran & Michelle Jamrisko

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Rising oil prices are prompting forecasts of a return to $100 a barrel for the first time since 2014, creating both winners and losers in the world economy. Exporters of the fuel would enjoy bumper returns, giving a fillip to companies and government coffers. By contrast, consuming nations would bear the cost at the pump, potentially fanning inflation and hurting demand. The good news is that Bloomberg Economics found that oil at $100 would mean less for global growth in 2018 than it did after the 2011 spike. That’s partly because economies are less reliant on energy and because the shale revolution…..

Read more: https://www.bloomberg.com/news/articles/2018-09-30/what-oil-at-100-a-barrel-would-mean-for-the-world-economy

 

 

 

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