END OF AN ERA IN MALAYSIA – LAZY PEOPLE LIVING OFF EASY OIL MONEY WILL SUFFER, WHILE THE HARDWORKING WILL GET RICHER

KIAMAT MINYAK SUDAH TIBA : FOR THE 1ST TIME US EXPORTS OIL TO MIDDLE EAST

Link :  https://www.bloomberg.com/news/videos/2017-12-21/opec-s-control-of-oil-is-running-on-fumes-video

Oil World Turns Upside Down as U.S. Sells Oil in Middle East

February 7, 2018

Cargo was  condensate meant for Abu Dhabi’s splitters
U.S. exported about 700,000 barrels to U.A.E.: Census Bureau
OPEC’s Control of the Oil Market Is Running on FumesUAE, a Persian Gulf petro-state

endless billions from crude

isn’t most obvious customer for Texan oil

American shale industry upending energy markets across globe

U.A.E. bought oil directly from U.S. in December
tanker sailed from Houston and arrived in the Persian Gulf last month.
American condensate quality suitable for U.A.E processing plantsend of ban on U.S. exports in 2015
explosive growth of shale production
changed flow of petroleum around world
US shipments increased from 100k barrels / day in 2013 to 1.53m in Nov
traveling as far as China and U.K.U.S. ExportsU.S. exported 700,000 barrels crude in Dec to U.A.E.
4th-largest OPEC producer’s first cargo of U.S. oilrising US crude exports, booming overseas sales of refined gasoline
U.S. net oil imports plunged to below 3m barrels / day
lowest since 45 years ago
12m barrels / day oil imports in 2006

U.A.E. production 2.85m barrels / day in Jan
has declined from 3.07m at end 2016
OPEC cut production to reduce global glut

cargo shipped from Houston arrived Jan. 31 at Ruwais in Abu Dhabi

U.A.E. Qatar embroiled in political dispute

U.A.E. ban all petroleum ships from Qatar

My comments : Cheap oil is now found abundantly in the US, namely shale oil. Each time the price of oil goes beyond US$60 per barrel, the shale guys rejoice. 

And since shale’s cost of production has plenty downward potential, the price per barrel for shale to breakeven will get even lower.

All this means downward pressure on oil prices around the world. 

All this means trouble for the oil kleptocracies around the world.

All this means trouble for lazy people who have been living off easy oil money. 

Thats what it means.  

Normal, hard working people are going to become ever more richer. 

Their input costs will go down.

– http://syedsoutsidethebox.blogspot.my