The slowdown in production has oil companies worried about what will happen when the global economy recovers. Royal Dutch Shell vice president Marvin Odum warned, “We’re in remission right now,” he said, but when oil demand rebounds, “the energy challenge will come back with a vengeance.”
Posts Tagged ‘oil price’
Global oil supply will peak in 2020, says energy agency
The IEA is very constrained in what it can say – by the demands of its constituent governments – so you have to read between the lines. We believe that peak oil will come about in 2013 at the latest but the real concern from the IEA is the adjustment of production figures,”
The Peak Oil Crisis: In the Eye of the Storm
While waiting to find out how many million barrels of daily oil production OPEC says it will cut, it’s a good time to review the financial-energy situation as the two are now inextricably linked.
Oil price slide is an emergency for OPEC nations
Experts say real aim of today’s meeting may be to set floor no lower than $70 U.S. per barrel
Top officials of OPEC are holding an emergency meeting in Vienna today to decide whether significant cuts to oil production are needed to stem the fall in crude prices.
