Oil market likely to be well balanced in 2019, says Saudi energy adviser

[Tom Kirkman + 8,860]

Shocking News!  (Just kidding...)

Amusingly good news lately about global oil & gas.  The good news just keeps on rolling in.

The Saudi adviser in the article below touches on a key point that I have harped about endlessly - a suitable balance between most global oil producers and most global oil consumers.

The data and reactions I have been observing with Brent averaging $71 in 2018 and apparently on track to average around $70 again this year tend to confirm my opinion that $70 Brent is probably an optimum, suitable balance for the next few years.

If oil [Brent] can stay centered around $70 for a couple more years, it seems to me that a suitable balance between most oil producers and most oil consumers will have a profoundly positive effect for most GDPs and most global economies.

The New Green Deal AOC crowd of panic alarmists continue to deny that the world runs on oil, that oil money lubricates economies, that oil is simply not going away any time soon, and that their Global Warming Carbon Tax is simply another attempt by governments to tax and spend enormously, and is yet another attempt by governments to exert power and control over their citizens. In other words, AOC IS FAKE NEWS.

 

Back to the real world ...

The sky is *not* falling.

The world is *not* ending in 12 years.

Oil & Gas are the economic engines that run the world.

And right now, in most countries, the economic engines are overall running pretty darn well thanks to $70 oil [Brent].

If AOC wants to do something that is actually constructive for the world, how about rallying people to stop the incessant warfare around the world.

Oil & Gas don't hurt people.

Absolute Dictatorships hurt people.

Wars hurt people.

Corrupt, power-hungry politicians hurt people.

Scaremongering in order to seize control of taxpayer money via tax & spend, that hurts people.

 

Anyway, back to the topic of a suitable balance between most oil producers and most oil consumers:

Oil market likely to be well balanced in 2019, says Saudi energy adviser

Ibrahim al-Muhanna, an adviser to the Saudi energy minister, said on Friday he expected the oil market to be "well balanced" this year.

"This year, we have seen the implementation of the OPEC Plus decision. It is possible to extend the cut until the end of the year depending on market conditions," al-Muhanna told an oil summit in Paris.

[Douglas Buckland + 6,308]

I just want the drilling to start back up!

Selfish, I know......

[Tom Kirkman + 8,860]

22 minutes ago, Douglas Buckland said:

I just want the drilling to start back up!

Selfish, I know......

But offshore drilling is starting back up.

Offshore drilling makes comeback with increased spending, activity