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ClipperBlog

18 February

More Iraqi Crude to the US?



Noam Raydan

Asia receives the lion's share of Iraqi crude exports, accounting for nearly 60 percent of exports last year. Europe has been the second leading destination, accounting for nearly 20 percent of barrels, while flows to North America dropped last year to 14 percent.

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Tagged Iraq oil exports, geopolitics Leave a comment
07 December

Bringing Home the Bagels



Matt Smith

In keeping with PETA's recent announcement to remove speciesism, OPEC has ironed out the details of a production cut (the sequel), with higher prices meaning they will ultimately be 'bringing home the bagels'.

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Tagged OPEC, Saudi oil exports, Iraq oil exports 1 Comment
16 October

Increasing Tensions, Increasing Flows



Matt Smith

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. 

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Tagged China oil imports, Saudi oil exports, Japan oil imports, India oil imports, Iran oil exports, Iraq oil exports 3 Comments
24 August

I Drink Your Milkshake!



Matt Smith

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...

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Tagged OPEC oil exports, Iran oil exports, Iraq oil exports Leave a comment
03 August

OPEC takes a new tack with higher exports



Matt Smith

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.

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Tagged Iran oil exports, Iraq oil exports, OPEC crude exports 2 Comments
12 February

Go East! 



Matt Smith

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
06 December

No holiday cheer for US from OPEC



Matt Smith

After the dust has settled on last week's OPEC meeting, the cartel's impact on U.S. oil inventories is set to linger on. Stocks are at their lowest level since January 2016, and are down over 80 million barrels from their peak in March - in spite of a 30 million barrel injection from the SPR.

As we head into the holiday season, the U.S. should expect little in the way of holiday cheer from...

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Tagged OPEC, Saudi Arabia oil exports, Iraq oil exports, OPEC exports to the US Leave a comment
29 November

ClipperClip: All about Saudi



Matt Smith

This morning's appearance on CNBC's Squawk Box addressed the impending OPEC meeting, and how Saudi continues to lead the charge in the production cut, and will dictate the shots going forward. Hark, click on the below mugshot to launch to part of the clip:

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Tagged Saudi Arabia oil exports, Venezuela oil exports, Iraq oil exports, Iran oil production Leave a comment
07 November

Contrasting crude flows from Saudi and Iraq



Matt Smith
We've been harping on in recent weeks about how Saudi has been slashing crude flows to North America, but as we can see in  our ClipperData below, it has been cutting flows to other key markets too.
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Tagged Saudi crude exports, Iraq oil exports, china crude imports Leave a comment
26 October

Back to the Future



Matt Smith

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. 

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Tagged Saudi crude exports, OPEC oil exports, US oil imports, Iraq oil exports Leave a comment
02 June

Oil roiled



Matt Smith

As oil ventures into forty dollardom once more, today's blog takes a peek at a number of supply side influences, from Basrah buoyed to Brazil nuttiness, all via a 'call on shale'. Hark, here are a number of things to consider in oil markets today:   

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Tagged Nigeria oil exports, Brazil crude oil exports, Iraq oil exports, US oil exports Leave a comment
23 May

Limbering up for OPEC



Matt Smith

Last week we discussed how some OPEC producers are exhibiting compliance via lower exports, while others are not. Our export data affirms what others are saying about Iraq: that OPEC's second-largest producer has not been playing ball

Exports out of the south of the country continue to hold up, above 3 million barrels per day, while exports from the north are also consistently holding above...

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26 April

Strong imports can't stop crude draw



Matt Smith

In today's game of rock-paper-scissors from the weekly EIA inventory report, crude inputs were propelled higher (like a rock), blunting the impact of super-strong imports (the scissors). On paper, the crude draw is bullish, but a modest rally is being kept in check somewhat by solid builds to the products. Hark, here are five things to consider in oil markets today:  

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Tagged Saudi Arabia oil exports, Venezuela, refinery runs, Iraq oil exports, Trainer refinery Leave a comment
28 March

Rising Iraqi oil exports to the US



Matt Smith

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.  

 

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Tagged Iraq oil exports, mexico product imports, Saudi Aramco, producer hedging Leave a comment
27 March

OPEC pledge to lower crude exports



Matt Smith

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:

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Tagged Saudi Arabia oil exports, Angola oil exports, Iraq oil exports Leave a comment
17 March

Oil scared stiff



Matt Smith

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:

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Tagged Iraq oil exports, Saudi Arabia product exports, Saudi product exports Leave a comment
19 January

Iraqi oil output at a record



Matt Smith

Oil is finding some support thus far today off the back of the IEA's monthly oil market report, which pointed to a tightening market amid OPEC production cuts. Hark, here are five things to consider in oil markets today.   

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Tagged Japan oil imports, IEA OMR report, Iraq oil exports, UAE oil exports Leave a comment
10 January

Oil oversupply fears return



Matt Smith

Crude prices are once again on the defensive today as oversupply fears swirl. As the market waits with bated breath for the manifestation - or lack thereof - of OPEC / NOPEC cuts, hark, here are five things to consider in oil markets.  

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Tagged OPEC oil exports, Iraq oil exports Leave a comment
20 December

Iraq talking down its exports



Matt Smith

Even though crude prices may be subdued amid thin trading over the holiday period, there is always a thing (or five) going on in the oil markets. Henceforth, hark...here are five things to consider in oil markets today:  

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Tagged Iraq oil exports, oil waiting offshore in the US Gulf, Asia refinery capacity Leave a comment
08 December

NOPEC hopes rally crude



Matt Smith

The mood of crude has flipped again, with optimism rising ahead of the NOPEC meeting at the weekend. Even though doubts persist, for today, oil prices push higher. Hark, here are six things to consider in oil markets today.  

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Tagged Iraq oil exports, Basrah heavy, basrah light, tanker rates, Kirkuk oil Leave a comment
28 November

Deal or no deal?



Matt Smith

We have a week which starts with cartel controversy, and concludes with Nonfarm Friday. Somewhere inbetwixt, we get the small matter of an OPEC meeting in Vienna. With that in mind, hark, here are five things to consider in oil markets today.

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Tagged OPEC, Saudi Arabia oil exports, Iraq oil exports Leave a comment
10 October

Oil producer jawboning at work again



Matt Smith

Good day! With Nonfarm Friday now behind us, we can look forward to a week of oil-specific monthly releases from IEA (tomorrow), OPEC (Wednesday) and EIA (Thursday).

As the spotlight swings onto another meeting of global producers - this time in Istanbul this week - rhetoric out of Saudi and Russia is once again encouraging an oil rally. Hark, here are five things to consider in oil markets...

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Tagged floating storage, Iraq oil exports, Basrah heavy, fracking, US oil inventories, basrah light Leave a comment
30 September

Ministers writing checks that OPEC can't cash



Matt Smith

Surely the latest actions by OPEC in Algiers threatens the very core of the cartel, given its members have agreed to something that is going to be extremely difficult to follow through on. To coin a phrase (well, kind of) from Top Gun, the cartel's oil ministers are writing checks that OPEC can't cash.

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Tagged Saudi oil exports, Saudi Arabia, Libya, Iraq, Iraq oil exports 2 Comments
23 September

Going through the motions



Matt Smith

Crude prices are selling off, aided by Saudi comments that a decision will not be forthcoming from next week's OPEC meeting in Algiers. Add to this news that the Federal Reserve is looking to restrict bank involvement in physical commodities...and dollar strength as the cherry on top...and oil is heading lower into the weekend. Hark, here are five things to consider in oil markets today:

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Tagged OPEC, Saudi oil exports, Iran oil exports, Iraq oil exports, Permian Basin Leave a comment
08 September

Large oil draw surprises market



Matt Smith

 As a humongous draw to oil inventories has wrong-footed the market, crude prices have ripped higher in response. Hark, here are five things to consider in oil markets today:

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Tagged OPEC, Saudi oil exports, Iran oil exports, Iraq oil exports, inventory report Leave a comment
30 August

ClipperClip: Not warming to a freeze



Matt Smith

It was great to be on the CNBC Squawk Box set again, made all the more fun by getting to meet Davis Love III in the green room with the Ryder Cup. We covered (the anchors and myself, not Davis Love III ) next month's meeting of OPEC and key oil producers, as well as retail gasoline prices and U.S. domestic production. Hark, click on the below mugshot to launch to the clip:

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Tagged OPEC, Saudi Arabia, gasoline, Iran oil exports, Iraq oil exports 2 Comments
09 August

ClipperClip: Dismissing OPEC freeze rumors



Matt Smith

I had a fun chat with Bernie Lo on CNBC Asia last night about a whole host of things. Part of the interview is featured below, where we discussed the likelihood - or the lack thereof - of an OPEC production freeze. Hark, click on the below mugshot to launch to the clip:

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Tagged ClipperBlog, OPEC, Saudi oil exports, refinery maintenance season, Iraq oil exports Leave a comment
29 June

Oil marching on as sentiment improves



Matt Smith

Once again, broader markets are maintaining a risk-on stance, with a falling dollar helping to usher crude prices higher. With weekly inventories bringing focus back to U.S. fundamentals as we charge toward a holiday weekend (stay strong, my friends), here are five things to consider relating to oil and energy today. 

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Tagged ClipperBlog, Saudi Arabia oil exports, Iran oil exports, Iraq oil exports Leave a comment

About the Authors

MATT SMITH


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

DAN GRAEBER


Dan Graeber is Chief Editor at ClipperData. He specializes in exploring the intersection between geopolitical events and the price of oil.

Dan Graeber

AMIR RICHANI


Amir Richani is a geopolitical analyst at ClipperData, with a voracious appetite for studying political, economic and social developments in Latin America.

Amir Richani

NOAM RAYDAN


Noam Raydan is an analyst at ClipperData, focusing on political and security developments that could disrupt oil flows in the MENA region. She is also a tanker sleuth, scouring the high seas for unusual activities.

Noam Raydan

KEN SMITHMIER


Ken Smithmier is our Director of Research for Agricultural Markets. Follow along as Ken gets granular about grains.

Ken Smithmier


JOSH LOWELL


Josh Lowell is an energy analyst at ClipperData. He specializes in marine fuels, and is known for talking about IMO2020 in his sleep.

Josh Lowell


RON COIFMAN


Ron Coifman Ron is a petrochemicals markets editor at ClipperData. He has over four decades of experience in the petrochemical industry, with a particularly encyclopedic knowledge of Latin America markets.

Ron Coifman


KALEEM ASGHAR


Kaleem Asghar Kaleem is ClipperData's Director of LNG analytics, and our main man when it comes to all things natural gas related..

Kaleem Asghar

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