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ClipperBlog

05 February

OPEC crude exports to US remain choppy

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.

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Tagged OPEC, Saudi Arabia oil exports, US oil imports Leave a comment
01 December

Lower Flows Highlight Venezuelan Plight

Venezuelan president Nicolas Maduro said this week that PdVSA is willing to retaliate against financial sanctions from the U.S. by suspending oil exports to the country, sending crude to Asia instead.

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Tagged Venezuela oil exports, US oil imports, pdvsa 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
23 August

OPEC giving up US market share

Oil prices are rallying post-EIA report as today's crude draw was joined by a drop in gasoline inventories. Although waterborne imports were strong last week, OPEC flows to the U.S. continue to ebb. Hark, here are some things to consider in oil markets today:

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17 August

ClipperClip: The Kicker

Last night's appearance on CNBC Asia addressed strong crude inventory draws in the US  - due to higher exports, lower imports and record refinery runs - and a potential looming product glut. Hark, click on the below mugshot to launch to the clip: Continue Reading
Tagged US oil imports, US oil exports, record refinery runs Leave a comment
07 July

Reality bites

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...

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Tagged Saudi oil exports, OPEC oil exports, US oil imports Leave a comment
28 June

Still playing whack-a-mole

Earlier in the week we discussed how lower Saudi export loadings in April are translating into lower arrivals on U.S. shores this month. This has prompted some to ask whether Iraq has stepped up to fill this supply gap.

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Tagged US crude imports, US oil imports, global floating storage Leave a comment
25 May

Extension reflects OPEC's shortcomings

As OPEC's latest meeting concludes in Vienna, just a glimpse at the charts below helps explain why the cartel's production cut deal has been extended for another nine months: it hasn't worked so far.

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Tagged OPEC oil exports, US oil imports 2 Comments
16 May

Subdued crude amid ample supply

Talk of rebalancing from the IEA and OPEC / NOPEC assurances of an extended production cut have not been enough to encourage the market higher. Even though global crude flows are showing new trends, the key takeaway is that the market appears well-supplied - at least for now. With that in mind, hark, here are five things to consider in oil markets today: 

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Tagged US oil imports, Russia oil exports, Bakken crude to Asia Leave a comment
02 May

Mexican crude exports head lower

Oil prices are unable to get up off the canvas, as signs of global market rebalancing continue to be errant. With the first weekly EIA report of the month on deck tomorrow, hark, here are five things to consider in oil markets today: 

 

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Tagged US oil imports, Saudi product exports, mexican oil exports, Motiva Enterprises Port Arthur refinery 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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