November 22, 2016 Charts
Crude oil stocks built by 5.3 MMB last week; The total US oil rig count rose by 19 last week; Refinery utilization is starting to rise again.
Entries by Peter Tertzakian
November 15, 2016 Charts
The CAD has fallen to its lowest since Feb; OPEC production hit a new record high in Oct; US crude oil stocks rose by 2.4 MMB last week.
Commentary – Where Is All This Oil Coming From?
Source: Pixabay.com Millions of barrels of excess crude oil are weighing down tankers that are being filled from pipelines coming from fields where rows of overworked pump jacks are bobbing their heads up and down like spooked horses. Oil markets are spooked again too. In the absence of output restraint – a return to some […]
Commentary – Oil Demand – Climbing to Another Milestone
Politicking for the US presidential election is now behind us, so I thought I would write about something that’s more predictable – like oil market demand. Reflecting on the world’s unquenchable addiction, recent data suggests that the world will soon touch a milestone rate of oil consumption: 100 million barrels every day. There is a […]
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