Australian LNG

Daily LNG price update (rig rout)

David Llewellyn-Smith
Monday 19 October 2015
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The Brent oil price firmed Friday night to end at $50.48 largely on a US oil rig count that just can’t stop falling down 10 TO 595:

20151016_rig_0
The Telegraph has some nice texture on the tensions developing in OPEC:

CaptureAlmost a year ago Rafael Ramirez, Venezuela’s long-serving former oil minister, emerged from a tense meeting of the Organisation of the Petroleum Exporting Countries (Opec) looking red faced and furious.

Within the privacy of Opec’s steel-clad secretariat building in Vienna’s quiet Helferstorferstrasse, Ramirez had remonstrated angrily with his counterpart from Saudi Arabia, Ali al-Naimi, about the urgent need for the group of major oil producers to push up the price of crude back to a level around $100 per barrel.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.