Naming and shaming was the theme of last night's appearance on CNBC Asia, as we discussed which members of OPEC seem to be in compliance...and which do not. In conclusion: OPEC compliance is lumpy. Hark, click on the below mugshot to launch to the clip. (Quotes from other parts of the interview are also in this CNBC article).Continue Reading
Two-hundred and twenty years to the day after the washing machine was patented, oil prices are continuing to spin around support at the $48 level. As buying interest returns today, ahead of the weekly inventory data, hark, here are five things to consider in oil markets today.
Oil prices are subdued to start the week, as the weekend's compliance meeting has done little to allay oversupply fears. As WTI continues to trek on in forty-dollardom, hark, here are five things to consider in oil markets today:Continue Reading
Crude is heading lower today after a solid build to crude inventories from the weekly EIA inventory report. As U.S. inventories climb to a new record high, crude is having a tough time believing that the market is re-balancing. Hark, here are five things to consider in oil markets today:Continue Reading
Crude prices are coming under selling pressure once again, as oversupply concerns dwarf OPEC production cut expectations. As equity markets join oil prices in charging lower, hark, here are six things to consider in oil markets today.Continue Reading
It is quadruple witching day in the markets today, and accordingly, oil prices are scared stiff, hardly budging. Despite it being St. Patrick's Day, prices are struggling to stay in the green, as market participants try to weigh up whether OPEC is going to continue its production cuts (or even implement them in the first place). Hark, here are five things to consider in oil markets today:Continue Reading
Oil has got the wobbles after yesterday's rally, giving up gains as the dollar bounces from its lows. As OPEC compliance comes under scrutiny once more, hark, here are five things to consider in oil markets today.
Crude prices are rebounding today, bouncing off the trampoline of price support at $48 for WTI, $50 for Brent. A surprise draw to U.S. crude inventories (not to some) has been behind the rally (see more below), while the monthly IEA report followed in OPEC's footsteps by showing higher Saudi production, and higher OECD petroleum inventories. All that said, hark, here are five things to...Continue Reading
I ventured through New York's snowpiled streets early this morning to appear on the set of CNBC's Squawk Box. It was well worth it, though, to get to chat with Becky Quick about how OPEC has snow no excuses for why production cuts are not showing up in our export data. Hark, click on the below mugshot to launch to the clip.Continue Reading
The double whammy of yesterday's EIA drilling productivity report - showing rampantly rising shale production next month - combined with a bearish OPEC monthly oil market report, has sent oil prices scampering lower, testing key support levels on both Brent and WTI. With more twists and turns in the coming days than the Monaco Grand Prix, hark, here are five things to consider in oil markets...Continue Reading