oil rig prices

OPINION: When OPEC Quotas Don’t Matter Anymore

Lost in much of the discussion about the current global deficit of crude oil is a new reality that had been brewing for some time even before the Iran Conflict began on March 1: The fact that OPEC — and its bigger sister, OPEC+ — has lost its teeth. Worse for its member nations, the … Read more

Oil rig sunset

Biden v. OPEC …

As if prices aren’t high enough already, OPEC (Organization of Petroleum Exporting Countries) announced at its annual meeting that they will continue current production cuts (5.8 million barrels per day total) through September, thereafter to 3.66 million barrels daily.

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Oil rig sunset

How Do You Ask a Pariah for Help

Joe Biden took off this morning on Air Force One for a week-long trip to Saudi Arabia. Two things were evident as he climbed the steps. Hunter Biden was not along for the ride, so Joe would have to squeeze money from the Saudis himself, and Joe was going to a country to meet with … Read more

Iranian Proxy Damages Saudi Oil Production

Iranian Proxy Damages Saudi Oil Production

The Saudi oil company Aramco was hit with drone strikes Saturday according to a Fox report.  The drone strikes led to a fire at the world’s largest oil processing facility.  That facility is near an oil field also operated by the company. Short term damage Roughly 5% of the world’s oil supply was disrupted.  The … Read more

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