Every other week I kick off Mondays with a segment on NPR's Texas Standard. This morning we discussed OPEC's forming of a 'supergroup', and who would be on guitar (part of that statement is true).Continue Reading
Back at the start of December, we discussed how Venezuelan crude deliveries to the U.S. were sliding, and particularly to Citgo refineries. December ended up being the lowest level of Venezuelan grades to the U.S. on our records, as total Venezuelan crude exports dropped under 1.1 million barrels per day.Continue Reading
Yesterday's monthly oil market report from OPEC showed that oil production from Kazakhstan likely increased by 180,000 bpd in 2017 to 1.74 million barrels per day. Such a rise gives Kazakhstan the unenviable accolade of being the most out-of-compliance producer in the OPEC / NOPEC production cut deal - surpassing Iraq (some feat).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
Last night's appearance on CNBC Asia addressed the developments - or lack thereof - from yesterday's OPEC meeting, and what could happen next year. Hark, click on the below mugshot to launch to the clip:Continue Reading
The mood in Vienna this week is considerably more chipper than it was in June. This is because the cartel appears - in the words of Charlie Sheen - to be #winning.
But it hasn't all been plain sailing. In fact, it's been decidedly choppy. From an export perspective, certain cartel members have made a concerted effort to keep crude off the market, while others have blatantly not. Saudi...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
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
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
This morning's appearance on the set of CNBC's Squawk Box was a whirlwind tour of what is on our mind here at the good ship Clipper: falling Saudi exports to the US, rising Libyan exports, strong product demand, and crude being mopped up in Asia. Hark, click on the below mug shot to launch to the clip:Continue Reading