Oil & Energy

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U.S. oil rigs were flat this week after rising 9 last week, however Permian rigs continue to be added with 6 more this bast week Baker Hughes, a GE co. said. We will have to see if this is a trend back to increased driling activity and how long it takes drillers to respond to the higher prices.

The EIA releases it's weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.   

Our TCOIL preview for this week's EIA DOE Weekly Petroleum Status Report highlights the key variables to watch out for. Crude oil markets are watching products and production after earnings with the all important import export trade.

Houston based Cheniere Energy $LNG reported a loss of $289 million or -$1.24 per share for Q317 Tuesday, adjusted to extinguish debt and asset impairment  -$1.09 per share. LNG posted revenue of $1.4 billion for Q3. What we noted was the higher LNG Demand From Asia and the natural gas company guding higher for global demand.

The OPEC Monthly Oil Market Report (MOMR) for November released Monday 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 rose this week after a series of falls in a week where WTI crude futures traded to almost $58. We will have to see if this a trend back to increased driling activity and how long it takes drillers to respond to the higher prices.

Sulfur dioxide levels in China declined dramatically even though coal usage increased by approximately 50% and electricity generation grew by over 100%, India's sulfur dioxide emissions increased by 50 percent over the past decade.

Coal has been the dirty relation in energy for a number years now as renewables and natural gas continue to dominate. Mines have closed, plants have shut so it's no surprise the EIA reports in August 2017, coal stockpiles at electric power plants were 144 million tons, the lowest monthly level since late 2014.

The EIA releases it's weekly natural gas storage report each Thursday at 10.30 ET, the key data point for natural gas traders outside of weather modelling. This week another build is expected.   

OPEC said shale oil production will grow considerably faster than expected over the next four years while global demand for OPEC’s crude will rise in the next two years more slowly than expected.

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