Oil & Energy

Google Ad

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

Both the U.S. and Iran are in a tight spot with Iran's imploding economy and impending isolation oil prices have soared to 4 year highs. Iran plans to use private companies to counter sanctions. With high oil a risk to the global economy the US is considering waivers.

U.S. oil rigs in service fell 2 this week as U.S.remained at record oil production of 11.1 million bpd again. US Natural gas were unchanged. Bottlenecks remain in the Midland Texas area.

The EIA reported a higher  than expected build of +98 Bcf in natural gas storage last week. Prompt Henry Hub Futures rose sharply this week to $3.26 in the front fell on the report to 3,13. Meanwhile Mexican exports near record high as we watch LNG shipments. 

EIA reported a huge build in crude oil with a small draw in gasoline inventories this week.  Production was unchanged at an all time high. However the chatter is Iran and OPEC+ and $100 oil prices getting the punter all in.

U.S. oil rigs in service fell 3 this week as U.S.hit record oil production of 11.1 million bpd again. US Natural gas wells rose 3. Bottlenecks remain in the Midland Texas area.

The EIA reported a lower than expected build of +46 Bcf in natural gas storage last week. Prompt Henry Hub Futures rose sharply this week on Nukes and weather, pulling back on expiration. Meanwhile Mexican exports near record high as we watch LNG shipments. 

EIA reported a build in crude oil and gasoline inventories this week.  Production rose to an all time high. All the chatter is Iran and OPEC+ but what about the Permian?

The next OPEC+ meeting in Algiers on September 23 comes at a critical time with a trade war in affect, Iran sanctions about to come on and the U.S. sitting just under record productions and exports. All eyes are on Russia and Saudi Arabia and of course US Production.

Solar farms have been more costly to deliver electricity than natural gas or coal because of the cost of storage and downtime at night, However that is changing with the falling cost of batteries a recent report shows.

Google ads