Robert's Feed
Jun 25, 2012

Petrobras admits everything broken but the model: Campbell

NEW YORK, June 25 (Reuters) – For a long time, Brazil’s
Petrobras was the state-run oil company that was supposed to
show other state-run oil companies how it was done.

But burdened with unrealistic government policy, Petrobras
is starting to look as broken as some of the
industry’s laggards.

Jun 22, 2012

Iran standoff to slow Saudi’s oil slide response: Campbell

NEW YORK (Reuters) – Amid this week’s carnage in crude oil markets with Brent futures slumping to 18-month lows, bullish traders have held out hope that Saudi Arabia will bail out the market with a quick cutback in oil production. They are likely to be disappointed.

Saudi Arabia has driven oil into a supply surplus this year by ratcheting up its own production to near 10 million barrels per day.

Jun 18, 2012

Saudi keeps traders guessing on oil downside: Campbell

NEW YORK (Reuters) – Saudi Arabia has cleared up any doubts about its unhappiness with oil prices above $100 a barrel but last week’s OPEC meeting has done nothing to dispel speculation that the kingdom may be willing to see crude go much lower for a while.

Crude’s collapse from near $130 a barrel earlier this year has been brought about by a slowing world economy and determination on the part of Saudi Arabia to force the world to sit up and take notice when it flexes its supply muscles.

Jun 13, 2012

COLUMN: OPEC’s new ground rule? Don’t mention Iran: Campbell

VIENNA (Reuters) – It is no exaggeration to say the impact of the pending U.S. and European sanctions against Iran are one of the most taboo subjects at an OPEC meeting in years.

A visitor from Mars could well walk away from the day to day events in Vienna under the impression that the impending U.S. and European sanctions regimes has nothing to do with Iranian oil exports.

Jun 13, 2012

OPEC’s new ground rule? Don’t mention Iran: Campbell

VIENNA (Reuters) – It is no exaggeration to say the impact of the pending U.S. and European sanctions against Iran are one of the most taboo subjects at an OPEC meeting in years.

A visitor from Mars could well walk away from the day to day events in Vienna under the impression that the impending U.S. and European sanctions regimes has nothing to do with Iranian oil exports.

Jun 6, 2012

Brent/WTI convergence bet nears moment of truth: Campbell

NEW YORK, June 6 (Reuters) – Traders who have bet on a
narrowing of the spread between Brent and West Texas
Intermediate crude oil futures are nearing a moment of truth.

Stocks of crude oil in the U.S. Midwest are at an all-time
high. Ditto for inventories at Cushing, Oklahoma, the delivery
point for WTI futures.

Jun 4, 2012

Venezuela, oil and Chavismo without Chavez: Campbell

CARACAS, June 4 (Reuters) – Hugo Chavez’s picture is
everywhere in Venezuela and may remain ubiquitous for some time,
despite the president’s serious illness. But soon the image may
only be a Mao-like symbol of regime continuity.

Chavismo, Hugo Chavez’s unique and malleable blend of
militarism, historical revisionism, command economics, and
knee-jerk anti-Americanism, is a movement intimately tied to the
leader and his almost messianic bond with Venezuela’s poor.

Jun 1, 2012

COLUMN: Shell-shocked bulls speechless as oil tumbles: Campbell

CARACAS (Reuters) – If oil was a good bet at $110 a barrel, why are crude’s cheerleaders not calling on investors to load up on Brent now that it is in the bargain bin?

Of course, the current macroeconomic situation doesn’t look nearly so supportive for crude as before. But it is not as if the current mess in Europe and the slowing pace of Chinese growth should be coming as a surprise.

May 25, 2012

Japan is key support for battered oil price: Campbell

NEW YORK, May 25 (Reuters) – Oil bulls battered by a recent
slump in crude prices can take heart in at least one fact:
Japanese utilities are still buying sweet crude heavily,
propping up Asian oil prices even as Western benchmarks stumble.

Japanese utilities have been forced to crank up their use of
oil and natural gas to generate power, as a moratorium on the
restart of nuclear power plants drags on.

May 22, 2012

Quietly now: Mexico is no longer an oil basketcase: Campbell

NEW YORK, May 22 (Reuters) – The following may be taken as
heresy by oil perma-bulls but let’s get it out in the open: it’s
time to scrap, or at the very least rigorously question, the
assumption that Mexican oil production will dramatically fall
sometime this decade.

A predicted sharp fall in Mexican oil output has long
underpinned part of one of the bullish theses behind strong oil
prices: non-OPEC crude oil output is weak and getting weaker.