ClipperBlog

25 April

Don't Fight the Falih

As oil prices hover close to multi-year highs, Saudi's Oil Minister has hit the wires saying that OPEC 'shouldn't be complacent and listen to some of the noise such as mission accomplished' . Just as we learned earlier in this economic cycle via 'don't fight the Fed', we too should take heed: 'Don't fight the Falih'.

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Tagged Saudi crude exports, US crude imports, OPEC crude exports Leave a comment
09 March

The more things change...

In the latter half of last year, we highlighted how Saudi deliveries to Motiva's Port Arthur refinery had been surpassed by Iraqi barrels for the first time on our records. While this trend has now reversed, when it comes to total OPEC flows, the more things change, the more they stay the same. 

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Tagged Saudi crude exports, US crude imports, Iraq crude exports Leave a comment
09 January

New twists in OPEC flows

Last week, we discussed changing trends in Iraqi crude flows into AsiaTotal deliveries of OPEC crude to China rose last year by 300,000 bpd, as cartel members looked to keep one of its key growth markets well supplied.

Even though Iraqi deliveries into China reached the highest on our records in November at a million barrels per day, arrivals in 2017 were actually down versus the prior year,...

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Tagged China oil imports, OPEC exports, Saudi crude exports, OPEC exports to the US Leave a comment
07 November

Contrasting crude flows from Saudi and Iraq

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

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 August

ClipperClip: Mopping Up

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:

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Tagged OPEC, Saudi crude exports, Libya crude exports Leave a comment
28 July

Saudi walkin' the walk

Back in late May, Saudi Oil Minister Khalid Al-Falih said that 'exports to the U.S. will drop measurably', as the OPEC Kingpin adjusted its focus to reducing exports to the world's most transparent energy hub.

Exports from Saudi to the U.S. take approximately seven weeks to arrive - hence, as we swiftly approach the end of July, we can see from Saudi deliveries this month that they are not...

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Tagged Saudi crude exports, Venezuela sanctions 4 Comments
26 July

Come on in, the water is fine!

It's good to see Saudi Oil Minister Khalid Al-Falih jumping on the tanker-tracking train (well, you know what I mean), highlighting that participants in the OPEC / NOPEC production cut deal need to reconcile production with exports, and that oil exports are now the key metric to monitor. (Come on in, the water is fine!).

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Tagged Saudi crude exports, pdvsa, citgo, chevron, china crude imports 3 Comments
05 May

Saudi exports show April pullback

Crude is rebounding into the weekend after yesterday's solid dose of the WBWs (whoop-bang-wallops, lest we forget). Although prices are now mired below their 200-day moving averages, after dropping ~15 percent from mid-last month, some bargain-hunting has entered into the fray at the end of the week. Hark, here are five things to consider in oil markets today:

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Tagged OPEC, Saudi crude exports, Singapore floating storage, chinese independent refiners Leave a comment
03 June

Oil unable to rally despite sliding dollar

Seventy-four years after the birth of Curtis Mayfield, and oil prices are struggling to move on up, despite a wilting dollar due to a shocker of a U.S. jobs report. The combo of yesterday's bearish-tilted OPEC meeting and today's weak nonfarm payrolls is ushering black gold, Texas tea away from fifty-dollardom once more. Hark, here are five things to consider in oil markets today: 

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Tagged ClipperBlog, Saudi crude exports, electric cars, Iran exports Leave a comment

About the Author

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

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