Oil & Energy

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U.S. oil rigs in service rose 2 this week, 3 off cycle high as U.S.oil production held at the all time high 11.70 million bpd. US Natural gas rigs rose 1. Oil rigs fell 43 in Canada. Bottlenecks remain in the Midland Texas area.

EIA reported a smaller than expected draw in crude oil with builds in gasoline and a build in Cushing inventories last week.  Production back to 11.7 mbpd ATH. Crude oil futures volatilty continued with large fund blowouts after the OPEC meeting with Trade War concerns.

The EIA reported a draw of - 48 Bcf in natural gas storage last week. Inventories are expected to peak this year at 3.24 Tcf: 14% below the 5-year average, the lowest level in at least a decade. Meanwhile Mexican exports near record high as we watch LNG shipments.  

U.S. oil rigs in service rode 8 this week, 5 off cycle high as U.S.oil production held 100k off all time high to 11.60 million bpd. US Natural gas rigs fell 1. Oil rigs fell 37 in Canada. Bottlenecks remain in the Midland Texas area.

The EIA reported a draw of - 141 Bcf in natural gas storage last week. Inventories are expected to peak this year at 3.24 Tcf: 14% below the 5-year average, the lowest level in at least a decade. Meanwhile Mexican exports near record high as we watch LNG shipments.  

EIA reported a smaller than expected draw in crude oil with builds in gasoline and a build in Cushing inventories last week.  Production stayed at 11.6 mbpd. Crude oil futures volatilty continued with large fund blowouts after the OPEC meeting with Trade War concerns.

Australia may well be the world's largest natural gas exporter but fulfilling those orders has pressured domestic prices. The Exxon Mobil and BHP Billiton development of the West Barracouta gas field in the Gippsland Basin will bring fresh gas to Australian domestic markets.

U.S. oil rigs in service fell 4 this week, 15 off cycle high as U.S.oil production fell 100k off all time high to 11.60 million bpd. US Natural gas rigs fell 5. Oil rigs fell 5 in Canada. Bottlenecks remain in the Midland Texas area.

The EIA reported a draw of - 77 Bcf in natural gas storage last week. Inventories are expected to peak this year at 3.24 Tcf: 14% below the 5-year average, the lowest level in at least a decade. Meanwhile Mexican exports near record high as we watch LNG shipments.  

EIA reported a smaller than expected draw in crude oil with builds in gasoline and a build in Cushing inventories last week.  Production fell  off all time highs to 11.6 mbpd. Crude oil futures volatilty continues after OPEC meeting and Trade War concerns.

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