I was on CNBC Asia on Sunday evening as oil prices jumped higher, discussing how the disappearance of Jamal Khashoggi was unlikely to impact energy flows between the U.S. and Saudi Arabia.Continue Reading
As Brent crude pushed to multi-year highs yesterday, it was the topic of conversation on my every-other-Monday-morning segment on NPR's Texas Standard, as well as on CNBC Asia last night.Continue Reading
The splendidly-directed movie 'There Will Be Blood' by P.T. Anderson is about the early days of the oil boom.
There is an epic scene between actors Daniel Day Lewis and Paul Dano, in which Daniel Day Lewis says: 'I DRINK YOUR MILKSHAKE!'.
This is a century-old hat-tip to directional oil drilling, as Daniel Day Lewis' character has used slant drilling to drain an oil reservoir under an...Continue Reading
Crude is delivered to CNPC's Kabala terminal in Myanmar and is stored at Kyaukphyu before being transported by pipeline to the Yunnan refinery in China.Continue Reading
I was in Chicago yesterday giving a keynote speech at a conference, so I grabbed the opportunity to swing by the TD Ameritrade Network and meet Ben Lichtenstein in person.
We did a segment covering all manner of things (as per usual) - including China, the US dollar, inventories, OPEC and gasoline.Continue Reading
After OPEC crude exports hit a record in June, ongoing strength in July seems to affirm a new trend, as opposed to a flash in the pan.
June's pre-OPEC meeting export ramp-up was pretty spectacular, propelling June's exports over 1.5 million barrels per day higher than May.Continue Reading
Nutty times in the oil market (again). Yesterday morning I was out on NPR's Texas Standard discussing retail gasoline prices as they approach the $3/gallon handle, you can listen to the segment here. I also appeared on CNBC Asia last night, discussing the slow-motion car crash that is Venezuela, among other things.Continue Reading
Today is national submarine day, and oil prices are trying not to submerge after a recent sustained rally. Today we get the opening gambit from the triumvirate of reports from the EIA, IEA and OPEC, with the EIA's short term energy outlook on deck first. OPEC is waiting in the wings tomorrow, before the IEA's Oil Market Report follows as the caboose on Thursday. In the meantime, hark, here are...Continue Reading
Happy Nonfarm Friday! It is the first Friday of the year, hence we get our first monthly dose of official US employment data. Job creation last month was below expectations, but was offset by upward revisions to prior months, while wage growth also improved to the fastest pace in seven years, adding a positive hue to the report.
Dollar strength off this report is helping to keep crude in...Continue Reading
Happy Thanksgiving Eve! A fairly neutral EIA report - tilted a wee bit bullish for crude, bearish for the products - has been a welcome distraction, before a surgical focus has returned to every rumor and murmur out of OPEC delegates. So to distract from all of this, hark, here are six things to consider in oil markets today:Continue Reading