Cane stage

Fire Ramírez

Today’s OPEC meeting in Vienna has all the makings of a turning point in the history of oil, and Venezuela. In agreeing not to cut oil production quotas in the face of a steep price decline – driving oil prices into the mesosphere – the organization has decided that business as usual … is over. The long-term challenge…

Nomura

A benchmark for our troubles

This has been a gruesome year for Venezuela. But as our economy collapses, economists are finding it hard to assess just how screwed up we are, since Venezuela’s Central Bank refuses to publish economic data. It’s also becoming very hard to forecast how clusterfucked we’ll be in 2015. In this context, economists have to come up with whatever they can.…

refineria-Amuay

Go bold, go big

While we were on break, a Reuters story came out about potential buyers going on a tour of our Citgo refineries – you know, the ones we are truly, definitely not going to sell. The tour got me thinking – if the government is going to go ahead with the advice of their French svengalis and…

oil1

Could the Saudi strategy be working?

Take it away, OilPrice.com … “Slumping oil prices are putting pressure on U.S. drillers. The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct.…