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We've had a difficult time of it in the oil world recently as we tumble through a massive market sell-off at large.
At the beginning of November, we experienced the steepest drop in oil prices since 2015, and in the days since, the charts continued to drop significantly.
This has created an unpleasant – but not entirely unexpected – downward mountain slope...
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Everyone knows Tom Gentile is a legendary trader.
It's helped make him a millionaire.
And now, we're going to share all the details about what he's just uncovered...
On Dec. 3, a week-long rumor finally saw the light of day.
I had heard it prior to my departure for Singapore last week, and it had at the time been the substance of some talk on its potential importance – if true – during our meetings.
Well, it is no longer just a rumor.
On Monday morning, Qatari Energy Minister Saad Sherida al-Kaabi announced that the Persian Gulf state was leaving OPEC, effective Jan. 1, 2019.
Qatar is a minor oil producer, averaging some 600,000 barrels a day, putting it at the bottom of the OPEC ladder along with Ecuador.
However, it is a major natural gas producer and the world's leading exporter of liquefied natural gas (LNG).
But there is a more important reason why the Qatari departure from OPEC is likely to shift the regional tensions into a higher gear.
And it's not about oil.
It's all about using natural gas as an increasing global lever...
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My life has taken me in many different directions.
From working as an intelligence officer for the American government to consulting for dozens of governments around the globe in the world of energy, I can't claim that my life has been dull.
However, although my life has taken a trajectory that I may not have expected in my youth, I do truly enjoy what I do.
And when it comes to energy, there are many things that excite me.
One thing I can tell you is the most exciting thing about seeing and knowing the latest in energy is that it is a constant, ever-evolving industry.
And by that I mean it is always working to improve itself.
These days, with the oil market in shambles (though, as I wrote about last week, it is beginning its recovery), I've been keeping an eye on the renewable industry.
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Here in Singapore, things influencing the oil world continue to make themselves clearer.
Recently, the oil market has been slammed with a tidal wave of volatility, and back a few weeks ago we had the largest drop in oil prices since 2015.
However, since I've been attending meetings here at OSEA 2018 in Singapore, one signal that the implosion in oil prices is nearing its end has surfaced.
In each of the last several downward cycles in the price of both daily pegged benchmarks (West Texas Intermediate in New York and Brent in London), a divergence has emerged prior to the recovery of pricking levels.
That divergence has begun over the past few trading sessions.
It amounts to a recovery in the market prices of crude oil and natural gas production companies while the underlying price of oil continues to move downward, and it has already become a topic of conversation here in Singapore.
From the floor, the issue even made its way into my plenary address before the OSEA 2018 conference.
The geopolitical situation – particularly between China and the United States – in these past few weeks has caught and held my attention like nothing else.
I'd call it understandable.
I'm currently in Singapore for Asia's annual oil and gas conference, and I'm getting an earful about the politics between my country and theirs.
Of course, the world is aware of the current state of the U.S.-China trade war. With tariffs coming from both ends, neither country is backing down.
I've discussed this in detail in many previous Oil & Energy Investor columns.
But things are getting hotter in this particular geopolitical realm.
Now, while the conference that I'm attending covers three days of intense energy-specific discussions, there are other conferences and summits going on in Asia to discuss other matters of global importance.
In particular, one that was just this past week was the Asia-Pacific Economic Cooperation, or APEC.
And boy, did it ruffle some feathers...
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U.S. presidents through the years have all had very different ideas about the energy industry.
In 1979, President Jimmy Carter spearheaded what would become a renewable revolution, and placed 32 solar panels on the White House roof amid a national energy crisis caused by the Arab oil embargo.
He was the first president to do so, and the first to take renewable energy seriously as a form of reliable and efficient energy consumption.
In the words of President Carter, "In the year 2000 this solar water heater behind me, which is being dedicated today, will still be here supplying cheap, efficient energy… A generation from now, this solar heater… can be just a small part of one of the greatest and most exciting adventures ever undertaken by the American people."
However, in 1981, President Reagan, who had very different ideas of how energy should be collected, ordered those solar panels removed. In fact, that was one of the first things he did upon taking office. Apparently, he considered them "a joke."
Half of the original 32 panels were moved to Unity College in Maine in 1992 to be used to heat water.
And in 2010, President Obama, who was a well-known advocate of renewable energy, ordered solar panels reinstalled at the White House.
Now, as longtime Oil & Energy Investor readers will know, I'm fully on board with expanding the United State's hold on renewable energy.
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A little over a year ago, our Global Energy Strategist discussed an intriguing project involving Tesla, a French renewable company, and the government of South Australia.
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Saudi Arabia isn't budging on oil prices.
In fact, they couldn't bring oil prices lower even if they wanted to.
Here's where oil prices are headed next...
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Crude oil prices are rising again.
Much to the relief of oil investors.
The rise has been reflected both by the West Texas Intermediate, the benchmark used for futures contracts set on New York, and Brent, the equivalent set daily in London.
As of close of trade Sept. 19 – which happened at 2:30 for oil – WTI was at $71.12 a barrel, the highest since July 10. Meanwhile, Brent closed slightly higher at $79.23.
I have previously addressed the main reasons for why the price is moving up here in Oil and Energy Investor, and for some time now, the supply side of the market balance has been tightening.
Thanks to this, there is something interesting stirring in the oil sector – something that manifested in a recommendation to my Energy Inner Circle premium subscribers just a couple days ago.
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