Mid-Week Review – November 13, 2019
World thirst for oil keeps growing, with SUVs a key culprit
The world’s thirst for oil will continue to grow until the 2030s, with climate-damaging emissions climbing until at least 2040 — and consumers’ insatiable appetite for SUVs is a big reason why. Mounting demand for plastic is another factor. So is increasing plane travel. And the upcoming population boom in cities across Africa and Asia.
U.S. Willing To Shoot Syrian Officials To “Protect The Oil”
Pentagon officials asserted Thursday U.S. military authority over Syrian oil fields because U.S. forces are acting under the goal of “protecting Americans from terrorist activity” and would be within their rights to shoot a representative of the Syrian government who attempted to retake control over that country’s national resource.
Saudi Aramco stock could price at volatile time for the oil market
Saudi Aramco intends to price its IPO on Dec. 5, the same day OPEC begins its regular two-day meeting in Vienna. The Aramco stock, equal to 0.5% of the company, is expected to trade on the Saudi Tadawul Exchange several days later, and market talk has focused on Saudi Arabia’s desire for higher and steadier prices.
Iran Announces the Biggest Oil Discovery of 2019
Iran has discovered a new oil field with reserves estimated at more than 50 billion barrels, President Hassan Rouhani said, adding the reserves from the field will be added to the country’s total, which is currently 150 billion barrels.
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