U.S. Crude Oil Production Surged in November
The Energy Information Administration (EIA) reported that November U.S. crude oil production averaged 10.038 million barrels per day (mmbd) in November, up 384,000 b/d from October. The monthly product...
View Article2018: Supply/Demand Trends Can Make Or Break Oil Prices
The crude oil price started the year off strong, as January posted the highest OPEC Reference Basket price ($66.85) since November 2014, the month in which the Saudis decided to wage an oil price war...
View ArticleWhat Inventory Level Should OPEC Target?
On November 30, 2016, OPEC’s press release announcing the supply target of 32.5 million barrels per day included the following reference to inventories: “The numbers underscore that the market...
View ArticleUpdated 2018 Crude Oil Outlook
Analysis prepared on March 19, 2018 The relative rate of growth in supply v. demand will ultimately determine stock levels and prices. And the three key predicting agencies, the International Energy...
View ArticleUpdated World Oil Forecast For April
According to the Energy Information Administration (EIA), world oil production will exceed demand for much of the balance of 2018, and therefore global OECD oil inventories are projected to rise....
View ArticleOil Price Implications Of OPEC's New Oil Deal
OPEC concluded its meeting on June 22nd with a vaguely-worded communique about its oil deal: “Accordingly, the Conference hereby decided that countries will strive to adhere to the overall conformity...
View ArticleOil Market Scenarios And Risks: 4Q18
Major uncertainties loom toward the end of the year when sanctions are currently scheduled to go into effect by the U.S. regarding Iran. The range of potential outcomes is large, as it is possible that...
View ArticleSaudi Crown Prince Claims Lost Iranian Barrels Will Be Offset
Back in 1973, Saudi Arabia took a very aggressive move against the U.S. by starting the Arab oil embargo: But the Trump Administration has taken a strong position against Iran, Saudi Arabia’s nemesis....
View ArticleSaudi Arabia's "Mini Oil Embargo" May Backfire
On October 20, 1973, Saudi King Faisal announced KSA was joining in an oil embargo against the United States and Europe in favor of the Arab position in the Yom Kippur War. In an interview with...
View ArticleOil Market Readies For Iran Sanction Waivers, Round 2
Crude oil production in Iran had reached 3.84 million barrels per day (mmbd) in the period following the lifting of sanctions by the Obama Administration. But following President Trump’s announcement...
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