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Robert Rapier: Global Oil Demand Is Rising Faster Than Production

|Includes:BP, CLR, EOG, OIH, RDS.A, The United States Oil ETF, LP (USO)

Jason Burack of Wall St for Main St had oil and energy expert, Robert Rapier www.energytrendsinsider.com/columns/rsquared/, back on for another in depth podcast on the oil markets.

In this 40+ minute interview, Jason asks Robert about the terrorist/rebel activities in Iraq and whether this has already lead to any refinery or pipeline shutdowns or destruction.

Robert says refineries are being evacuated and one was recently captured but nothing has been destroyed yet. Iraq is one of the few countries who has dramatically increased oil production the last 7 years straight but this positive trend will probably stop now.

Next, Jason asks Robert about the new, in depth BP Statistical Review out. Robert talks about how the US (because of shale oil production) is the only major country that increased oil production significantly. Many other key oil producing countries are now in rapid production decline and global oil demand is now growing faster than global energy supply (production).

Jason and Robert talk about National Oil Companies in Venezuela, Mexico, etc and the problems these organizations and governments have with CAPEX spending to increase oil production.

Robert talks about the enormous capital expenditures or CAPEX already being spent just to keep oil production flat.

Jason and Robert talk about the dilemma the oil majors like Shell, BP, Chevron, Exxon-Mobil, etc have. They can either increase their dividend or have to fund much higher capex for projects including exploration, but they cannot afford both without a much higher oil price.

Jason and Robert then wrap up the interview talking about the Keystone XL Pipeline and the US Shale oil boom.

This is a great 40+ minute, comprehensive interview about the oil markets you don't want to miss!

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Link to podcast: youtu.be/jgTTVP7P_S0

Stocks: USO, RDS.A, EOG, CLR, BP, OIH