550px-Oil exportsIf the first questions were related to the U.S. as a possible oil-exporting country then, given the past when they granted licenses to export, some interesting questions arises whether the U.S. will commence sending oil to Europe ?

Under what conditions will these licenses be granted? How will Europe's current distributors cope with this situation?

220px-Sweet Crude source:wikipedia

 

 Venezuela

A dream of the former president was to certainly use the oil resources of the country as leverage to wealth


In early November, Guatemala withdrew from the Petrocaribe oil alliance launched by Chavez, representatives of Brazil and Colombia have held meetings with their Venezuelan counterparts to collect overdue payment


Although Venezuela sits atop the world's largest reserves, production has steadily declined in recent years. Global prices for crude are also lower as hydraulic fracturing technology boosts supplies in the U.S.

free 9969271Yesterday after  foreign ministers from the U.S., Europe, China and Russia made unscheduled trips to Geneva  the third round of talks in six weeks  reached to a conclusion. 

The deal releases some of Iran’s oil assets.
“Sanctions have been hitting Iran oil dramatically. There is hope that in the long term the supply dynamics will improve. High commodity prices are one of the key costs to businesses and consumers so a decline in oil equates to lightening up the tax burden.”

venezuela-oil-mapsource:geology.com

President Nicolas Maduro will be able to govern without consulting Congress for 12 months.

 The president says the aim of the new powers is to tackle the economic crisis.  

Maduro is attacking the country's producers and businesses to boost his United Socialist Party of Venezuela for local elections.

The deeply divided oil-producing country is going to the polls on 8 December .

Iran Crude oil Capcity IEA MTOGM 2011source:crudeoilpeak.info/iran-crude-oil-decline-to-2016

 

 The powers are offering a gradual rollback of sanctions that have crippled Iran’s economy, raising concerns of an influx of Iranian oil into world markets at a time of already abundant supplies.

At the Multi Commodity Exchange, crude oil for delivery in December fell by Rs 25, or 0.42%, to Rs 5,969 per barrel in 252 lots.  

Crude oil for December delivery shed 31 cents to $93.53 a barrel on the New York Mercantile Exchange.

 

consolidationhttp://sscf.ucsd.edu/ "Brent crude oil slipped further below $107 a barrel on Friday on concerns about higher supply and faltering demand, despite signs of faster economic growth in major consumer China .

crude-oil1Photo :energyandcapital.comThe golden age of oil is fast becoming a thing of the past, as crude oil inventory begin to decline. All over the world countries are searching for alternitive fuels, and developing new technologies to offset the ever increasing cost of oil. Many oil producing nations have begun to limit their exports of crude oil.

map syria country-mdgulfsands.com/s/Syria.aspThe tweet in question came from the Israeli Defense Forces:

Oct. 10 #YomKippur73: Israel Air Force bombards airports in Syria to prevent Soviet weapons reaching the Syrian Army http://t.co/tKnMzYjgFF — IDF (@IDFSpokesperson) October 10, 2013

At first glance, that might seem alarming. After all, Syria has been engaged in a bloody civil war for two and a half years, which has escalated tensions with Israel. And Russia has been a key supporter of Syria's Al-Assad regime. Bottom line: the possibility of a Syrian/Israeli war looms large.

the-state-of-crude-inventoriesIn recent years, the price of crude oil has been unpredictable, mostly in the upward trend. This increase in price of the precious commodity has left many pundits wondering what could be happening. Researchers have come up with all manners of reasons for the state of crude oil inventory.

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