ClipperBlog

12 October

Saudi crude exports drop to key regions

Saudi Arabia continues to lead the charge in terms of the OPEC production cut deal - not only by keeping exports in check, but also by clearly communicating its next steps. By following through on its rhetoric, it has brought some much-needed credibility to the production cut deal - despite a lack of commitment from some other members.   

 

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Tagged Saudi Arabia, Iraq crude exports, OPEC crude exports Leave a comment
12 October

ClipperClip: US oil exports rip

Yesterday evening's appearance on CNBC Asia covered two key topics: OPEC and the US. While the monthly OPEC report had something for both bulls and bears, the US is in an intriguing situation where crude imports are lower while exports are higher. Hark, click on the below mugshot to launch to part of the interview:

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Tagged OPEC Leave a comment
28 September

Elasticated Exports

It is now a little over a month after Hurricane Harvey made landfall on the US Gulf Coast. While some refineries are still in the process of ramping up activities, refining utilization is clambering back higher towards historical norms. This improvement is being reflected through in higher crude and product flows, with product export activity looking particularly elasticated, snapping back...

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Tagged US crude imports, US gasoline exports, us diesel exports, US gulf coast refinery runs 1 Comment
27 September

Oman's multi-year high

Oman is the largest oil producer in the Middle East that is not a member of OPEC. It is also part of the OPEC / NOPEC production cut deal, committing to a 45,000 barrel-per-day cut from its output level of just over one million barrels per day. This equates to an export cut of about 36,000 bpd, according to our calculations.

The price of the Omani crude benchmark has just rallied to over a...

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Tagged China oil demand, Oman oil exports, Angola oil exports 1 Comment
26 September

Changing Iraqi crude flows

Brent crude prices were propelled to a two-year high yesterday, triggered by concerns about a Kurdish referendum vote to seek independence from Iraq. Although the vote is non-binding, a yes vote would pave the way for negotiations to secede from Iraq.

Neighboring countries such as Iran and Turkey are against the referendum, fearing that it will stoke separatist sentiment among the Kurdish...

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Tagged Basrah heavy, basrah light, Iraq crude exports, US imports of Iraqi crude Leave a comment
14 September

ClipperClip: KSA IPO

Last evening's appearance on CNBC Asia covered everything from the weekly U.S. inventory report, to Jim Chanos' bearish view on US shale producers. The segment below, however, addressed the announcement that Saudi Arabia's IPO may be pushed back until 2019. Hark, click on the below mugshot to launch to the clip:

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Tagged OPEC, Saudi Arabia, Saudi Aramco, oil prices 1 Comment
14 September

Returning to normalcy on the US Gulf Coast

Nearly twenty days (or over 450 hours) after Hurricane Harvey made landfall betwixt between Port Aransas and Port O'Connor in Texas, there are a number of signs emerging in our ClipperData that the refinery hub of the U.S. is returning to some semblance of normalcy. Hark, here are but three such examples: 

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Tagged US gasoline exports, us diesel exports, US Gulf Coast crude imports Leave a comment
30 August

ClipperClip: Hittin' the Gas

I enjoyed a late afternoon appearance on CNBC's Closing Bell (no early start or late finish for me today, my friends), discussing refineries on the Gulf Coast in the aftermath of Hurricane Harvey, and what it means for both RBOB and retail gasoline prices. Hark, click on the below mugshot to launch to the clip:

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Tagged retail gasoline prices, hurricane harvey, refineries 1 Comment
29 August

ClipperClips: Talking Harvey

Yesterday was a busy day all round, discussing the developments in relation to Hurricane Harvey. I kicked off the day on the Texas Standard, discussing how the Gulf Coast storm was going to have a considerable impact on global flows of oil and products - the interview can be found here

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Tagged gasoline prices, hurricane harvey Leave a comment
23 August

OPEC giving up US market share

Oil prices are rallying post-EIA report as today's crude draw was joined by a drop in gasoline inventories. Although waterborne imports were strong last week, OPEC flows to the U.S. continue to ebb. Hark, here are some things to consider in oil markets today:

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Tagged OPEC oil exports, US oil imports Leave a comment

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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