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About this blog

I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.

I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.

Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.

Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.

My website where I analyse data that really matters

Entries in this blog

 

Texas rattles gas markets by limiting out-of-state sales during blackouts

Texas Governor Greg Abbott told a media briefing on Feb. 17 that he was banning gas from leaving the state through Feb. 21 to ensure in-state power generators had ample supplies. Abbott said he was forced to act as millions of Texans remain without power for a third day amid frigid temperatures, with no clear timeline for restoring service. View the full article

hemanthaa@mail.com

hemanthaa@mail.com

 

U.S. will import 62% more crude by 2022 due to domestic production declines, says EIA

EIA expects that the United States will import more crude oil to fill the widening gap between refinery inputs of crude oil and domestic crude oil production in 2021 and 2022. U.S. crude oil production declined by an estimated 0.9 million bpd (8%) to 11.3 million bpd in 2020 because of well curtailment and a drop in drilling activity related to low crude oil prices. View the full article

hemanthaa@mail.com

hemanthaa@mail.com

 

Critical problem with Renewables: they are not at your beck and call!

People in Texas are suffering at present on an unprecedented scale and when the city mayor shot himself in the foot, while the response should have been a shot in the arm – not in vaccine sense – it hardly helps to boost the morale of ordinary people, let alone the vulnerable. Clearly, the demand of electricity has outweighed supply and the risks of wind power as a substitute are there for all to see. How many of us saw this coming – the frozen wind turbines? I certainly is not one of them.

hemanthaa@mail.com

hemanthaa@mail.com

 

Saudis warn against OPEC complacency before March meeting

“I must warn once again against complacency,” Energy Minister Prince Abdulaziz bin Salman said on Wednesday at an online conference held by the International Energy Forum in Riyadh. “The uncertainty is very high and we have to be extremely cautious. The scars from the events last year should teach us caution.” View the full article

hemanthaa@mail.com

hemanthaa@mail.com

 

Biden and his climate team disparage workers as part of their fossil fuel rhetoric

Vice President Kamala Harris drew derision on social media after she told a West Virginia television station that people could be put to work reclaiming abandoned “land mines.” A day earlier, climate envoy John Kerry said during a White House briefing that displaced laborers face “better choices” making solar panels and installing wind turbines. View the full article

hemanthaa@mail.com

hemanthaa@mail.com

 

Oil Price: what will happen when the planes are back in the skies?

Having risen steadily – and somewhat alarmingly – for more than a week, Brent crude price has slightly gone down for most of the day on Tuesday. Major oil producers in the OPEC, meanwhile, still think the price of the crude oil is in the right range as far as their economic issues are concerned, thanks to the output cut. The minnows in the organization, however, do not see it that way and reluctantly agree with cuts; they want to sell as much oil as possible and earn revenues as a matt

hemanthaa@mail.com

hemanthaa@mail.com

 

Lukoil added nearly 500 MMboe proved reserves in 2020

As a result of geological exploration and production drilling conducted in 2020, Lukoil added 464 million barrels of oil equivalent to its proved reserves. The largest contribution was made by the assets in West Siberia, Ural region, Timan-Pechora and Russian sector of the Caspian Sea. View the full article

hemanthaa@mail.com

hemanthaa@mail.com

 

Biden and his climate team add personal insults to fossil fuel rhetoric

Vice President Kamala Harris drew derision on social media after she told a West Virginia television station that people could be put to work reclaiming abandoned “land mines.” A day earlier, climate envoy John Kerry said during a White House briefing that displaced laborers face “better choices” making solar panels and installing wind turbines. View the full article

hemanthaa@mail.com

hemanthaa@mail.com

 

Crude oil price spike in the early morning in Asia; a drone was behind it!

At 04:27 GMT on Monday, Brent crude price went up by $1.09, a rise in 1.8%. WTI crude, meanwhile, gained $1.28. Analysts may think the stimulus package announced by the Biden administration and the hopes of success of the vaccination programmes across the world are behind the spike in crude price in the morning hours in Asia. It, however, was triggered off by a drone operation aimed at Saudi Arabia by Houthi rebels. According to Saudis, a drone, laden with explosives, was detected by the Sa

hemanthaa@mail.com

hemanthaa@mail.com

 

Record cold brings a windfall for small U.S. natural gas producers

After years of depressed prices and weak margins, U.S. natural gas producers -- at least those with wells and equipment that aren’t frozen -- are cashing in on an unusually extreme blast of cold. The freeze is giving a rare boost to a market that’s never recovered from a crash more than a decade ago, flooded by cheap supplies from shale fields. View the full article

hemanthaa@mail.com

hemanthaa@mail.com

 

Electricity from Renewables: still, dark days can cause major problems

On Boxing Day in 2020, we were mostly indoors due to the lockdown over the Christmas period in the United Kingdom; nature hardly helped alleviate the gloom during the difficult time either in the hour of national need; on the contrary, its fury developed into a monstrous storm, knows as Storm Bella, which relentlessly battered the British Isles. Being true to the cliché, the dark clouds did have a silver lining as far as the camp of renewables was concerned; the winds of Storm Bella, with g

hemanthaa@mail.com

hemanthaa@mail.com

 

Oil Price: all ears on next OPEC+ meeting in March

The next monthly meeting of the OPEC+ on March 4, is going to be crucial for the oil price in particular and the economies of the world regardless of their strength in general. At present, the factors which are always in favour of steady oil price are active and in full swing: the inventory draws are significant; China has been importing crude oil at an increased pace and so has India; Covid-19 vaccines bring in new hope for controlling the pandemic. In this context, OPEC+ can play the

hemanthaa@mail.com

hemanthaa@mail.com