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'.Continue Reading
Back in November 2016, we discussed how global loadings were at a record ahead of the OPEC / NOPEC production cut deal, as exporters put the pedal to the metal, exporting as much crude as they could before having to hit the brakes.Continue Reading
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
I really look forward to talking to Ben Lichtenstein or Kevin Hincks on the TD Ameritrade Network; they come at things from a trading perspective, and always have their finger on the pulse. We covered all bases in this latest interview - from trade wars to Iranian tensions to Saudi's tactics to Brent's contango and gasoline.Continue Reading
Last night's appearance on CNBC Asia highlighted that OPEC is definitely going to unwind the production cut deal. In fact, it appears they already have.
Historically, production rises ahead of an OPEC quota increase, and Saudi Arabia, Kuwait and UAE - the key proponents of the OPEC production cut deal - are all showing significantly higher crude exports so far this month, as spigots are opened...Continue Reading
I got to chat with my buddy, the mighty Dan Murphy, on CNBC Asia last night, and we covered a fair bit of ground: US crude inventories and the role of exports in reducing them, the Forties pipeline outage and who will plug the gap, and how Saudi must be feeling about the oil market (spoiler alert: absolutely delighted). Hark, click on the below mugshot to launch to the clip:Continue Reading
Six months after the implementation of the OPEC production cut deal to reduce output by 1.2 million barrels per day, and we should be well on our way towards rebalancing - yet prices have just reached a new low for the year.
OPEC actually exported more crude in June than it did in October (the production cut deal reference level), while total global crude exports are over 10 percent higher...Continue Reading
No sooner had the dust settled after the conclusion of the latest OPEC meeting (with oil traders selling the market like hot cakes), we got Saudi oil minister Khalid Al-Falih saying that exports to the US were dropping measurably.Continue Reading
After yesterday's monthly EIA report, and tomorrow's monthly OPEC report, the weekly EIA inventory report acts as the filling in this energy data sandwich. While have to wait until next Tuesday (16th) to get the IEA's monthly offering, hark, here are five things to consider in oil markets today:Continue Reading
Crude prices are coming under selling pressure once again, as oversupply concerns dwarf OPEC production cut expectations. As equity markets join oil prices in charging lower, hark, here are six things to consider in oil markets today.Continue Reading