Advertisement
Brent oil caught the general updraft in stocks last night and rose to $48.08. There was not much news.
The precise impact of decline rates on the 90 million barrels per day global oil industry is hard to calculate because some fields are still ramping up, while others are declining at different rates depending on age and type and the amount of sustaining investment.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.