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
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
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
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.Continue Reading
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...Continue Reading
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: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
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:Continue Reading
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...Continue Reading