Oil & Energy

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The OPEC Monthly Oil Market Report (MOMR) for June 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.

The U.S took 7 oil rigs out of service as U.S.oil production continues to fall to 11100kbpd. US Natural Gas rigs rose 5. Canadian oil rigs were unchanged,natural gas rigs rose 1

Natural gas futures were steady after an as expected build of +93 Bcf in natural gas storage last week. Ahead The Critobal impact and  focus on weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

EIA reported a build in Crude, with a big build in Gulf Coast and a 2279kbbl draw at at Cushing. Builds in distillate and gasoline. US production fell again to 11,100 mbpd, off record high of 13.10 mbpd. Futures are reacting to OPEC comments and risk off and production cut moves.

The U.S took 16 oil rigs out of service as U.S.oil production continues to fall to 11200kbpd. US Natural Gas rigs fell 1. Canadian oil rigs were unchanged,natural gas rigs rose 1

Natural gas futures were steady after a lower than expected build of +102 Bcf in natural gas storage last week. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

EIA reported a draw in Crude, the second since January, highlighted by a 1739kbbl draw at at Cushing. Large builds in distillate and gasoline. US production fell again to 11,200 mbpd, off record high of 13.10 mbpd. Futures are  reacting to OPEC comments and risk off and production cut moves.

The U.S took 15 oil rigs out of service as U.S.oil production continues to fall to 11400kbpd. US Natural Gas rigs fell 2. Canadian natural gas rigs were unchanged, oil rigs fell 1

EIA reported a large build in Crude, perhaps balancing out last week's first draw in crude since January, highlighted by a -3395kbbl draw at at Cushing. Large build in distillate as gasoline drew. US production fell again to 11,400 mbpd, off record high of 13.10 mbpd. Futures are elevated from a short squeeze, production cuts and demand pickups but inventories still outstrips demand since the Coronavirus.

Natural gas futures were lower after a hgher than expected build of +109 Bcf in natural gas storage last week. Ahead we focus on cold weather and the coronavirus effect, LNG and Mexican exports and the winter outlook for the US.

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