• About Angela Chao
  • Career in Shipping
    • Different Career Paths in Shipping
      • Deck Officer
      • Freight Analyst
      • Marine Engineer
      • Ship Broker
      • Shipbuilder
    • Education Facilities and Programs
    • How to Get started
  • Contact Angela

Angela Chao Blog

~ International Shipping and Transportation

Angela Chao Blog

Tag Archives: dropping oil prices

Flooding the Oil Market: OPEC’s Strategy is Having Its Desired Effect

13 Friday Nov 2015

Posted by Angela Chao in Dry bulk shipping

≈ 1 Comment

Tags

dropping oil prices, falling commodities prices, Glencore, OPEC, shale oil

OPEC’s aggressive strategy of flooding world markets with an abundance of oil appears oil barrelto be meeting its target goals of deflating competition from other producers. Primarily concerned about what was a booming shale oil market, OPEC’s strategy has impacted all oil producers in a multitude of sectors. Success is giving OPEC the incentive to continue to squeeze producers working in the Caspian, Arctic and Brazilian waters, and shale oil is definitely showing the results in America, where it accounts for as much as 45% of total spending cuts. Large companies have announced significant reductions in capital spending and delays in new projects. Total, for instance, is delaying projects in Norway, Italy and Australia by two years, and over that period of time has projected a reduction in expenditure of $3 billion per year — in order to stabilize revenue and ensure dividends are paid. OPEC is willing to pay the price to see its strategy succeed, even if oil prices reach $20 per barrel.

Continue reading →

Social

  • View angelachaocff’s profile on Facebook
  • View AngelaAChao’s profile on Twitter
  • View angela-chao-57848163’s profile on LinkedIn
  • View angelachao1’s profile on YouTube

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 342 other followers

About Me

Angela Chao
Chairman and C.E.O. of Foremost Group, a leading shipping and trading enterprise, Angela Chao is an active businesswoman who serves on several boards and loves to volunteer. Angela comes from a loving and supportive family of Chinese descent. The Chao family dedicate themselves to serving and contributing to society.

Read More

Recent Posts

  • A Review of Dry Bulk Shipping Performance and Its Challenges in 2016
  • Several Indicators Point to Long-Term Recovery in Capesize Market
  • Is Obsession with Brexit Creating a Blind-spot for Economists?
  • Angela Chao’s Mixed Bag of News for the Dry Bulk Shipping Industry
  • Consolidations in China’s Steelmaking Industry are Healthy and Necessary

Categories

  • Baltic Dry Index
  • Dry bulk shipping
  • Shipping Events

Tags

Baltic Capesize Index BDI Capesize rates China Chinese economy coal imports coal shipping Crude Oil Dalian Commodity Exchange dry bulk market dry bulk shipping dry bulk shipping market freight rates iron ore Iron ore prices iron ore shipping Iron ore shipping vessels shipping industry steel steel industry

Blog at WordPress.com.

Cancel

 
Loading Comments...
Comment
    ×