Oil & Energy

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The OPEC Monthly Oil Market Report (MOMR) for March released Thursday 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.

EIA reported crude oil storage Draw -3862k bbls when a +2900k bbls build was expected last week. Gasoline drew -4624k bbls with a build of 383kbbls in distillates.The shale revolution continues,  but production dropping 100k off record high to 12.00 mbpd. 

U.S. oil rigs in service fell 9 this week as U.S.oil production hit the all time high of 12.10 million bpd. US Natural gas rigs fell 2. Oil rigs fell 22 in Canada and Canadian natural gas rigs were unchanged with the freezing  weather. 

The EIA reported a draw of -149 Bcf in natural gas storage last week, as expected as temperatures stayed low after the extreme polar vortex cold. Ahead we focus on LNG and Mexican exports.

EIA reported huge crude oil storage Build of  +7069k bbls balancing out last week's -8647k bbls witht another build at Cushing of +873k bbls last week. Gasoline drew a larger than expected -4227k bbls .The shale revolution continues with production maintaining the new record high at 12.10 mbpd ATH. 

U.S. oil rigs in service fell 10 this week, with 7 coming off in the Permian as U.S.oil production hit another all time high of 12.10 million bpd. US Natural gas rigs were unchanged Oil rigs fell 4 in Canada and Canadian natural gas rigs rose 3 with the freezing  weather. 

The EIA reported a draw of - 166 Bcf in natural gas storage last week, less than expected as temperatures continued to rise from the depths of the extreme polar vortex cold. Ahead we focus on LNG and Mexican exports.

EIA reported crude oil storage draw of -8647k bbls but another big build at Cushing of +1628k bbls last week. The shale revolution continues with production a new record high at 12,10 mbpd ATH. 

U.S. oil rigs in service fell 4 this week as U.S.oil production hit another all time high of 12.00 million bpd. US Natural gas rigs were unchanged Oil rigs fell 8 in Canada and Canadian natural gas rigs fell 4 with the freezing  weather. 

EIA reported crude oil storage build of 3673k bbls and a huge build at Cushing of  3288k bbls last week. The shale revolution continues with production a new record high at 12,00 mbpd ATH. 

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