The Republican-controlled U.S. House of Representatives approved a bill set to boost U.S. energy production, lift the four-decade ban on crude oil exports and modernize the electric grid. The House passed the bill 249-174 despite threats from …
The Energy Information Administration (EIA) announced today that 2014 was the fourth-highest year on record for crude oil reserves as the United States added 3.4 billion barrels of crude oil and …
OPEC’s monthly Oil Market Report (OMR) released today showed the group’s production was down slightly to 31.38 million barrels of oil per day (MMBOPD), 256,000 barrels per day …
The United Arab Emirates (UAE) is looking to enhanced oil recovery (EOR) to push its production higher as the chances of finding new reserves decrease. OPEC’s …
The U.S. trade deficit increased by $6.5 billion to $48.3 billion in August from July, according to the U.S. Census Bureau. August exports were $185.1 billion, $3.7 billion less than July, and …
The U.S. international trade deficit in goods and services increased to $43.8 billion in June from $40.9 billion in May, according to the U.S. Census Bureau…
The much anticipated deal between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), was …
Imports of medium-grade crude oil to Gulf Coast refineries were down 45% in the first quarter of 2015 compared with the first quarter of 2014, reports the …
The International Energy Agency (IEA) released its monthly Oil Market Report (OMR) for the month of June today, projecting stronger than anticipated global demand growth through 2015. Global demand …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 3/6/15)
Current: 448,886
Actual Build/(Withdrawal): 4,512
Economist Average Estimate: 4,595
Previous: 444,374
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ANALYST COMMENTARY
KLR …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 2/27/15)
Current: 444,374
Actual Build/(Withdrawal): 10,303
Economist Average Estimate: 3,888
Previous: 434,071
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ANALYST COMMENTARY
KLR …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 2/13/15)
Current: 425,644
Actual Build/(Withdrawal): 7,716
Economist Average Estimate: 3,050
Previous: 417,928
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Important disclosures: The …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 2/6/15)
Current: 417,928
Actual Build/(Withdrawal): 4,868
Economist Average Estimate: 3,613
Previous: 413,060
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ANALYST COMMENTARY
BMO …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/30/15)
Current: 413,060
Actual Build/(Withdrawal): 6,333
Economist Average Estimate: 3,940
Previous: 406,727
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ANALYST COMMENTARY
KLR …
Dropping oil prices may have put the brakes on a lot of E&Ps’ capital spending plans for 2015, but that’s not slowing down Jason Vedadi …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/23/15)
Current: 406,727
Actual Build/(Withdrawal): 8,874
Economist Average Estimate: 4,000
Previous: 397,853
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ANALYST COMMENTARY
Raymond …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/16/15)
Current: 397,853
Actual Build/(Withdrawal): 10,071
Economist Average Estimate: 2,670
Previous: 387,782
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ANALYST COMMENTARY
KLR …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 12/26/14)
Current: 385,455
Actual Build/(Withdrawal): (1,754)
Economist Average Estimate: 133
Previous: 387,209
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Important disclosures: The …
CIBC’s Katherine Spector Lays Out a Few Scenarios
Head of Commodities Strategy for CIBC World Markets, Katherine Spector, hosted a conference call for CIBC clients on Wednesday morning in advance of both the U.S. Thanksgiving Day holiday and tomorrow’s …
ISIS Loses Oil Production
In the aftermath of last month’s U.S. air strikes that damaged the Islamic State’s (ISIS) captured oil field operations in Syria and Iraq, news outlets have reported that the attacks disrupted the group’s ability to make …
It is no coincidence that ISIS is using the oil fields and pipelines it captured in Iraq and Syria to sell crude oil for the purpose of funding its activities, according to a report in Istanbul’s Daily Sabah, dated July …
Commodity prices are influenced by several factors, including short-term catalysts and long term stimulus. Supply and demand often dictates short term prices, while factors such as future demand expectations and production decisions by the Organization of the Petroleum Exporting Countries …
Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) announced the group’s target output for 2014 will remain unchanged at 30 MMBOPD. Ministers of Iraq, Saudi Arabia and Kuwait made the announcement following a meeting between the exporters …
On November 24, 2013, the United States and Iran reached a diplomatic accord in hopes of soothing tensions existing since the Carter administration. As part of the deal, Iran agreed to freeze its entire nuclear program in exchange for the …
The impact of natural gas is making its mark on the transportation industry. OAG360 covered a recent $68 million investment by the United Parcel Service (ticker: UPS) for its liquefied natural gas (LNG) vehicles in 2013. Now, the railroad industry …
Crude Oil Inventory/’000 BBLS
Current: 373,918
Actual Build/(Withdrawal): (9,874)
Economist Average Estimate: (3,114)
Previous: 383,792
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CRUDE OIL IN THE MEDIA
*Fracking Firms Face New Crop of Competitors – WSJ
So many …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 4/3/13)
Current: 395,284
Actual Build/(Withdrawal): 6,696
Economist Average Estimate: 1,018
Previous: 388,588
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CRUDE OIL IN THE MEDIA
*Bakken, Three Forks Has More Oil Than 2008 …
CRUDE OIL INVENTORY/’000 bbls
Current: 387,641
Actual Build/(Withdrawal): (1,233)
Economist Average Estimate: 1,082
Previous: 388,874
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IN CASE YOU MISSED IT
*VIDEO: U.S. Need for Oil Is `Shrinking,’ Petrie Says – Bloomberg…
In March 2013, Louisiana Light crude oil spot price traded at an average premium of $2.63 per Bbl to the Brent crude oil spot price. Brent in February 2013 was -2.5% lower than the same month last year. The median …
