How Crude Oil's Global Collapse Unfolded (WSJ Dec,13,2014)

How Crude Oil's Global Collapse Unfolded (WSJ Dec,13,2014)
 
OPEC sent the U.S. 180.6 million barrels in August 2008,
September 2014, it shipped about half that, 87 million barrels.
 
Since the 1970s, Nigeria has sent a steady stream of high-quality crude oil to North American refineries. As recently as 2010, tankers delivered a million barrels a day. Then came the U.S. energy boom. By July of this year, oil imports from Nigeria had fallen to zero.

Displaced by surging U.S. oil production, millions of barrels of Nigerian crude now head to India, Indonesia and China. But Middle Eastern (OPEC) nations are trying to entice the same buyers. This has set up a battle for market share that could reshape the Organization of the Petroleum Exporting Countries and fundamentally change the global market for oil.


Entire Article:
http://www.timeslive.co.za/businesstimes/2014/12/13/how-crude-oils-...

Views: 291

Reply to This

Support GoHaynesvilleShale.com

Blog Posts

Tuscaloosa Trend Sits On Top Of Poorest Neighbourhood For Decades - Yet No Royalties Ever Paid To The Community -- Why??

In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of)  nor local residents appear to have received any compensation for the minerals extracted from their land.

This area has suffered immense environmental degradation…

Continue

Posted by Char on May 29, 2025 at 14:42

Not a member? Get our email.

Groups



© 2025   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service