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Alwaleed warns of sliding oil demand

Alwaleed warns of sliding oil demand

Old Jul 29th 2013, 8:44 am
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Default Alwaleed warns of sliding oil demand

Interesting....

"The US, a top consumer of Saudi Arabian crude, intends to achieve energy self-sufficiency by 2020."

http://www.arabianbusiness.com/alwal...nd-511466.html
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Old Jul 29th 2013, 3:35 pm
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Default Re: Alwaleed warns of sliding oil demand

Nah - known that for a year or so. The USA are starting to issues licences to export LNG.
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Old Jul 30th 2013, 5:01 am
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Default Re: Alwaleed warns of sliding oil demand

Good.
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Old Jul 30th 2013, 5:02 am
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Default Re: Alwaleed warns of sliding oil demand

Inshaallah it can't come soon enough.
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Old Jul 30th 2013, 5:07 am
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Default Re: Alwaleed warns of sliding oil demand

And the walls begin to tumble
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Old Jul 30th 2013, 5:57 am
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Default Re: Alwaleed warns of sliding oil demand

Western oil demand is in stagnate but that’s more than being made up for by increasing demand in Asia. By, 2025 demand for refined products will increase to over 100mbpd, mostly driven by gasoline/diesel.

The US will export LNG once its reconfigures the LNG regasification terminals its was building pre-shale gas to become liquefaction terminals. They almost certainly however won’t export any crude even if/when they (albeit briefly) over take Saudi and Russia as the largest producer. They also need to reconfigure their refinery base to handle the new domestic supply.

Whether Saudi will increase production toward 15m bopd is interesting. Seems unlikely given the increases that Iraq and Libya plan to make in the short to medium term. It would make sense to leave it in the ground for now until supply from other areas drops off or becomes more difficult and expensive, then cash it in.
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Old Jul 30th 2013, 6:08 am
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Default Re: Alwaleed warns of sliding oil demand

Originally Posted by the_red_sheep View Post
It would make sense to leave it in the ground for now until supply from other areas drops off or becomes more difficult and expensive, then cash it in.
That's the biggie. Leave it in the ground as long as possible and its value will just keep going up.
regardless of the main consumption as a fuel its use in plastics and pharmaceuticals etc will not be replaced by alternate fuels.

were i a ruler in the region i'd be transferring my domestic use to alternates as fast as possible and cutting production as much as my economy would allow.
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Old Jul 30th 2013, 6:24 am
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Default Re: Alwaleed warns of sliding oil demand

Originally Posted by shiva View Post
That's the biggie. Leave it in the ground as long as possible and its value will just keep going up.
regardless of the main consumption as a fuel its use in plastics and pharmaceuticals etc will not be replaced by alternate fuels.

were i a ruler in the region i'd be transferring my domestic use to alternates as fast as possible and cutting production as much as my economy would allow.
Indeed, but long term strategic thinking is not necessarily this part of the world’s forte, and short term greed certainly is.

At the moment they’re building huge downstream complexes so to ‘value-up’ the local oil rather than just ship it out as crude, and to create employment, they need to keep pumping oil to keep these facilities running, and to fulfil supply contracts, and to pay for ridiculous infrastructure schemes…
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Old Jul 30th 2013, 6:28 am
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Default Re: Alwaleed warns of sliding oil demand

Originally Posted by the_red_sheep View Post
Indeed, but long term strategic thinking is not necessarily this part of the world’s forte, and short term greed certainly is.
aint that the truth
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