Middle East Oil will account for Most of the World’s Demand Growth IEA Believes An updated analysis from the International Energy Agency (IEA) has determined that the current oil price environment has boosted the share of oil produced in the Middle East. At 31 million barrels per day, the region now accounts for 35% of global oil supplies, the highest
After Paris: U.S. and Russian air strikes target ISIS’s $50 million monthly oil revenues As the battle against ISIS continues, allied forces are increasingly targeting oil assets and the convoys of trucks being used to smuggle oil from ISIS-controlled oilfields. The idea is to cut off the major source of funding for the Islamic State’s barbaric terrorist activities. It is
Preng & Associates President David Preng appeared on Fox Business News’ Opening Bell to discuss unintended consequences of the so-called U.S./OPEC market share battle, and how current management teams and boards are managing through the current commodity cycle.
View PDF of Slides – Download the Source Video File If you glance through both recent and past editions of Bloomberg’s Analyst Rankings, a familiar name appears on many of the lists. Michael Carey, Chief Economist (North America) for Credit Agricole Corporate and Investment Bank, is recognized by Bloomberg as one of the top macroeconomic forecasters and is the second-best forecaster of
View PDF of Slides – Download Video File The Middle East is filled with countries that have complex energy policies that affect the whole globe. Many of them work together in the Organization of Petroleum Exporting Countries to make decisions felt throughout the world energy sector, but they all have their own concerns as well. To help us better understand energy policy in
President Obama addressed the nation on Wednesday night, urging Congress to increase funding, assistance and conduct “a series of strategic airstrikes” against the Islamic State, or ISIL, the group marching across Iraq that recently beheaded two American journalists on Internet broadcasts. The President vowed to support the Iraqi government by providing military training and supplies, but stopped short of placing
CNN reported today that ISIS has taken over six Syrian oil and gas fields, as well as al-Omar, “Syria’s largest oil facility that can produce 75,000 barrels of oil a day.” Pakistan’s Dawn News reported that one of the oil fields taken over was Tanak, located in the Sheiytat desert area in the east of Deir Ezzour province, according to
