Oil & Energy

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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. 

The EIA reported a draw of - 177 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.

Russia’s energy giant Gazprom will begin gas supplies to China a month ahead of schedule from Dec. 1, 2019 the company said on Friday.

U.S. oil rigs in service rose another 3 this week as U.S.oil production held at the all time high 11.90 million bpd. US Natural gas rigs fell 1 Oil rigs fell 6 in Canada and Canadian natural gas rigs fell 10 with the freezing  weather. 

Last week we saw the biggest draw of the season as cold weather continued to envelop the U.S. with the Polar Vortex breaking records. This week the reported a draw of - 78 Bcf in natural gas storage.

EIA reported crude oil storage build of 1263k bbls and another build in gasoline of 513k bbls last week. Cushing inventories had a large draw with production remaining at 11.9 mbpd ATH. 

The OPEC Monthly Oil Market Report (MOMR) for February released Tuesday 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 rose  7 this week as U.S.oil production held at the all time high 11.90 million bpd. US Natural gas rigs fell 3. Oil rigs fell 1 in Canada and natural gas fell 2 with the freezing  weather. 

This week is the biggest draw of the season as cold weather continued to envelop the U.S. with the Polar Vortex breaking records. Last week the EIA reported a draw of - 237 Bcf in natural gas storage.

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