I've been on the road - on walkabout as the Australians would say - for the last four weeks, doing a number of speaking engagements and trips across America. As we all know, all paths lead back to energy, hence, on my travels I have seen a bunch of energy infrastructure that I normally just study on a screen. Hark, here are some of those places, and some corresponding insights via our...Continue Reading
Wowee, 1985 showed a rich vein of form for movies. It was the year that spawned The Goonies, The Breakfast Club, Spies Like Us, Fletch and Back to the Future. It is Michael J Fox's breakthrough movie as Marty McFly which is particularly appropriate this month, given an event that is unfolding in the oil market which has not occurred in the last 32 years.Continue Reading
This morning's appearance on the set of CNBC Squawk Box started off discussing Saudi Aramco's IPO next year, and ended up covering global demand growth, and the unusual places it is coming through from. Hark, click on the below mugshot to launch to the clip:Continue Reading
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.
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:Continue Reading
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...Continue Reading
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...Continue Reading
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...Continue Reading
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:Continue Reading
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:Continue Reading