ClipperBlog

20 February

ClipperClip: Hotspots and Supergroups

Every other week I kick off Mondays with a segment on NPR's Texas Standard. This morning we discussed OPEC's forming of a 'supergroup', and who would be on guitar (part of that statement is true).

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Tagged OPEC, nopec Leave a comment
16 February

Saudi exports muddy the waters

Saudi Arabia continues to keep the market informed about its stance on the OPEC production cut deal, with Khalid al-Falih's latest guidance that Saudi would prefer to overtighten the market than exit early from cuts (channeling Neil Young's 'it's better to burn out than fade away'). 

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Tagged Saudi Arabia oil exports, US imports of Saudi crude, Saudi Aramco IPO 3 Comments
14 February

A Passage from India

Indian oil demand rose over 10 percent in January, up for a fourth consecutive month. Although much of the magnitude of the year-on-year improvement is due to last year's low base, with consumption in January 2017 hamstrung by the hangover of demonetization, the upward trend signals ongoing strength in the Indian economy.

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Tagged India oil exports, India middle distillate exports, India gasoline exports Leave a comment
12 February

Go East! 

We recently discussed Iraqi flows to the U.S., and how they continue to exhibit strength. Iraqi flows to the U.S. last year averaged just under 600,000 bpd, up a third from 2016's volume. While January deliveries were robust, clambering above 700,000 bpd, they were even more impressive to Asia, rising to a record. 

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Tagged Iraq oil exports, Basrah heavy, India crude imports, basrah light, china crude imports Leave a comment
12 February

ClipperClip: Short Sharp Shock

It's always nice to kick off the week with an appearance on CNBC Squawk Box (even if Joe makes fun of my vests). In this morning's segment we discussed the recent sell-off in crude prices amid broader market turmoil. Hark, click on the below mugshot to launch to a short clip. 

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Tagged oil prices, us dollar Leave a comment
05 February

OPEC crude exports to US remain choppy

Back at the start of December, we discussed how Venezuelan crude deliveries to the U.S. were sliding, and particularly to Citgo refineries.  December ended up being the lowest level of Venezuelan grades to the U.S. on our records, as total Venezuelan crude exports dropped under 1.1 million barrels per day.

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Tagged OPEC, Saudi Arabia oil exports, US oil imports Leave a comment
02 February

(Another) 100 million barrels

Back in December we discussed how US oil inventories had been drawn down by a hundred million barrels from their peak last March, channeling Dr Evil from Austin Powers.

In recent weeks we have been on tour, presenting our six-month proprietary outlook, and have been highlighting the case of another 100 million barrels - this time via the cumulative drop in Saudi crude exports over the last...

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Tagged market rebalancing, Saudi Arabia oil exports, Libya oil exports, OPEC compliance, impact alerts Leave a comment
02 February

ClipperClip: A little bit of everything

I've started doing segments on TD Ameritrade's network; they are really good fun. The interviews are typically ten minutes long, so we get to cover a variety of different topics. In this latest one, we dig into the US, OPEC, and all manner of things relating to oil markets, after an initial knee-jerk reaction to the latest economic data releases. Hark, click on the below mugshot to launch to...

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Tagged refinery maintenance season, us oil production, OPEC crude exports, us dollar Leave a comment
30 January

Mexico's import-export see-saw

U.S. gasoline exports averaged just over one million barrels per day in 2017, with a strong push higher at the end of the year (hark, an average of 1.3mn bpd in Q4). As exports registered their highest month of loadings on our records in December, they outpaced middle distillate exports for the first time since November 2016.

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Tagged us product exports, mexico crude exports 2 Comments
19 January

An unenviable accolade

Yesterday's monthly oil market report from OPEC showed that oil production from Kazakhstan likely increased by 180,000 bpd in 2017 to 1.74 million barrels per day. Such a rise gives Kazakhstan the unenviable accolade of being the most out-of-compliance producer in the OPEC / NOPEC production cut deal - surpassing Iraq (some feat).

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About the Author

Matt Smith deciphers and distills what is most relevant across the energy complex into cohesive and pithy knowledge you can use. The belly laugh is a bonus.

Matt Smith

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