Get yourself a ruler, a pencil and a piece of paper. Place the ruler at about 45 degrees and draw a line upward across the page. That’s what a chart of world oil consumption looks like over the past 30 years, give or take a few shakes off the line (Figure 1). That was easy. […]
Broad equity indices hit all time highs last week; Investor bullishness rose to 2014 levels; US crude oil inventories rose to an all-time high.
Oil investor sentiment pulled back last week; OPEC is achieving solid compliance so far; Crude stocks had their second largest gain ever.
WTI broke back about $53/B; US production grew by 105 MB/d in November; The US oil rig count rose by 17 last week.
