This week we are introducing a new chart in our ARC Energy Charts publication (Chart #18). Given the market’s spotlight on developed-country oil inventories, we want to monitor the progression of oil and product storage levels in two groups: the OECD Americas [1] and the rest of the OECD. As a result of the multi-year oil glut, […]
Today, the EIA released the December 2016 US oil production level. While production had pulled back slightly from the previous month, the overall trend is increasing US production. To understand where US tight oil production may be heading, it is instructive to consider not only the rig rate, but the productivity adjusted rig rate. The […]
Source: Pixabay.com The monopoly of the internal combustion engine (ICE) on human transport was not always a guaranteed outcome. At the turn of the last century, about one-third of the “horseless carriages” that were driving around New York, Boston, and Chicago were actually propelled by an electric drive and not one that fired pistons. […]
The oil markets are jittery. In the last week the price of oil increased to $US 53/B when President Trump officially put Iran “on notice,” and then sunk down to almost $US 52/B on news of a large gain in US crude oil stockpiles. Although US oil storage typically builds this time of year, the fill rate […]
