OPEC, for some quiet moments..

[admin]

A lot of people have got very excited as the price of WTI has bounced back from the lows reached a few months ago. If oil fails to break and hold above $62 this time around, however, their enthusiasm could well be misplaced, as the fundamental factors that caused the price decline in the first instance are still in place. That, combined with the technical importance of this challenge of the resistance, makes a drop back below $50 look more likely than a continued rally. When short-term technical indicators and long-term fundamentals both suggest a move in the same direction, as is the case here, investors are well advised to pay attention.

Why Oil’s Rally Is Over | OilPrice.com

Some market watchers, such as Cornerstone Analytics (CA), have consistently stated that the underestimation of demand, coupled with over-estimation of supply, will mask the growing call on OPEC oil in the second half of this year. CA recently noted that global demand outstripped supply by some 4 million barrels in April . This comes in addition to the mounting evidence that the oil market, via rig count declines, slowing production growth, higher demand and huge API crude inventory declines, is starting to readjust.

OPEC Struggling To Keep Up The Pace In Oil Price War | OilPrice.com

The more than 40 year old crude oil export ban is no longer serving its original purpose. And, as the authors point out, it is currently causing nearly the opposite effect as was originally intended. Continuing it at this point is not only leading to a sequence of diminishing returns, but leaving important benefits – both foreign and domestic – on the table.

Crude oil may be our most strategic weapon « Hot Air

The transfer of operational control of Train 1 marks the start of commercial operations at QCLNG. First production from Train 1 occurred in December 2014, with 16 cargoes shipped to date. QCLNG’s Train 2 is currently under construction, and is expected to start operations in the third quarter of 2015.

BG takes full operational control of Queensland Curtis LNG in Australia