OPEC, for some quiet moments..

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It's been a while since we've heard about peak oil—the point at which we use up half the world’s reserves and see production terminally decline—but it's happening. And yet, we still have enough oil left to burn our way to climate catastrophe. In a paper released at the end of July, Sir David King, the British Foreign Office’s Special Representative on Climate Change, and his co-author, Oliver Inderwildi of Oxford University’s Smith School of Enterprise and the Environment, refute what they call “a common misperception about peak oil”: that fossil fuels are growing scarce. Rather, they argue, peak oil means it’s getting more difficult and costly to get oil out of the ground—and there’s less of the cheaper, easy oil available.

Welcome to the Age of Crappy Oil | Motherboard

In last month’s Short Term Energy Outlook (STEO), the Energy Information Administration (EIA) projected that it now expects record U.S. gasoline consumption this year

U.S. Gasoline Consumption On Target For A Record Year | OilPrice.com

OPEC has done it again. Talk of a potential deal to freeze output helped push oil close to $50/bbl and prompted money managers to cut bets on falling prices by the most ever. West Texas Intermediate, the U.S. benchmark, went from a bear to a bull market in less than three weeks.

‘Well-timed’ OPEC talk forces oil bears into record reversal

Oil retreated, halting the longest run of gains in four years as Iraq sought to increase exports amid a global oversupply and Nigerian militants called an end to hostilities. Futures fell 3% in New York after climbing 16% the previous seven sessions. Iraq will boost crude shipments by about 5% in the next few days following an agreement to resume exports from three oil fields in Kirkuk. The Niger Delta Avengers declared an end to attacks on oil infrastructure and will conduct talks with the government, according to a statement on a website that says it represents the group.

Oil ends longest gain in 4 years on Nigeria, Iraq supply boost