Oil & Energy

Google Ad

The EIA reported a draw of - 77 Bcf in natural gas storage last week. Inventories are expected to peak this year at 3.24 Tcf: 14% below the 5-year average, the lowest level in at least a decade. Meanwhile Mexican exports near record high as we watch LNG shipments.  

EIA reported a smaller than expected draw in crude oil with builds in gasoline and a build in Cushing inventories last week.  Production fell  off all time highs to 11.6 mbpd. Crude oil futures volatilty continues after OPEC meeting and Trade War concerns.

The OPEC Monthly Oil Market Report (MOMR) for December released Wednesday provides OPEC's outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply.

U.S. oil rigs in service fell 10 this week from a near a new cycle high as U.S.oil production  remained at all time high of 11.70 million bpd. US Natural gas rigs rose 9. Oil rigs fell 17 in Canada. Bottlenecks remain in the Midland Texas area.

The OPEC+ meeting in Vienna came at a critical time with oil prices down over 30% , a trade war in affect and Iran sanctions on. The POTUS has been brazenly telling Saudi Arabia to not cut,  the U.S. has record productions and exports. The cut was promised at 1.2 bpd by OPEC and Non-OPEC. 

The EIA reported a draw of - 63 Bcf in natural gas storage last week. Inventories are expected to peak this year at 3.24 Tcf: 14% below the 5-year average, the lowest level in at least a decade. Meanwhile Mexican exports near record high as we watch LNG shipments.  

EIA reported a surprise huge draw in crude oil with builds in gasoline and a build in Cushing inventories last week.  Production remained at an all time high with 11.7 mbpd. Crude oil futures volatilty ahead of OPEC meeting and Trump rhetoric pick.

U.S. oil rigs in service rose 2 this week back near a new cycle high as U.S.oil production  remained at all time high of 11.70 million bpd. US Natural gas rigs fell 5. Oil rigs fell 5 in Canada. Bottlenecks remain in the Midland Texas area.

The EIA reported a draw of - 59 Bcf in natural gas storage this week. Inventories are expected to peak this year at 3.24 Tcf: 14% below the 5-year average, the lowest level in at least a decade. Meanwhile Mexican exports near record high as we watch LNG shipments.  

EIA reported another big build in crude oil with draws in gasoline and a build in Cushing inventories last week.  Production remained at an all time high with 11.7 mbpd. Crude oil futures volatilty as long biased funds collapsed and the Trump OPEC rhetoric picked up.

Google ads