Commodity Trade Mantra

Posts Tagged ‘Oil Imports’

End of an Era: The Rise and Fall of the Petrodollar System

Similar to the paradigm shift – the transition to the petrodollar system that followed with the collapse of the Bretton Woods system, there is another major shift underway today. We will know its consequences in full, the day oil-producing countries demand gold for their oil, instead of dollars. The Gulf states are seeking measures to reduce their dependence & exposure to the US dollar.

Saudi Market Share Hit As Russia Doubles Oil Exports To China

Russia had overtaken Saudi Arabia as China’s leading supplier of crude oil at the end of last year. Russia’s exports to China had more than doubled over the course of the past years — an increase equivalent to 550,000 barrels a day, while the two major oil suppliers – Saudi Arabia and Iran, saw their Chinese oil orders decline year-over-year.

Here's What Saudi Arabia’s New Oil Policy Will Look Like

Ali al-Naimi’s termination & Prince Mohammed’s official ascent to the top of the Saudi oil chain of command are likely bearish in the short term, as Saudi Arabia reverts to its 2014 strategy of pushing oil prices low enough to put marginal producers out of business. What does this mean for oil, since Khalid Al-Falih is likely to follow Naimi’s policy of safeguarding Saudi Arabia’s market share?

Oil Prices Supported by China's Strategic Reserve Hoarding

Imports into China continue to knock the socks off last year’s levels. Should oil imports keep up their pace for the rest of the month, they will be achieve their highest level since April, and imports overall will be up 14% year-to-date through the first three quarters of the year. Bargain-hunting? You betcha.

Market Fundamentals Make Oil Price Increase Unlikely

Fundamentals haven’t changed much & the world is still oversupplied with oil. There are no obvious signs that this trend will reverse in the near future. The worst case scenario, according to the investment bank Goldman Sachs, is that oil prices will drop to as low as $45 per barrel in the next three months.

Gold And Silver – The Central Bank Death Dance, Part II

The forces of financial evil are doing everything possible to suppress PM prices, which means when they eventually fail, gold and silver will soar to new levels – The bad news is, no one knows for how long these forces will continue to exert control.

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