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Category Archives: barrel

The Biggest Factors In Future Oil Production

Authored by Ron Patterson via, This assessment is based on the data in the 2017 BP Statistical Review of World Energy available here. As such it uses that review’s definition of oil which is crude and condensate and natural gas liquids, uncompensated for their different energy contents or values of refined product components. Figure 1: […]

Is ‘Oil God’ Andy Hall The Latest Victim Of “Fake News”?

Raymond James' J. Marshall Adkins invoked one of President Trump's favorite phrases to explain oil's plunge, and to excuse his bullish bias (that crude can rise to as much as $65 a barrel). As Bloomberg notes, conventional wisdom holds that resilient U.S. shale drilling, underwhelming progress towards OPEC’s goal in slimming global oil inventories, and […]

WTI/RBOB Jump On Gaosline Draw As US Crude Production Tumbles Most Since August

Last night's unexpected API builds kneejerked prices lower but a weaker dollar helped levitate WTI/RBOB into the DOE print. While tropical depression Cindy may have affected the data, DOE reports a small build in crude (expectations for a draw) but all eyes were on gasoline which drew 894k, well below API's build levels and expectation […]

WTI/RBOB Jump After Biggest Crude Inventory Draw Since 2016

WTI and RBOB have rallied since last night's surprisingly large Crude draw (and gasoline build) reported by API, and DOE ata confirmed with inventory draws across the entire complex (including gasoline). WTIO and RBOB prices popped as Crude inventories dropped most since 2016 despite crude production rising above 9.3mm – highest since Aug 2015. API […]

Oil BTFD Algo “Triggered” For Fourth Consecutive Week

Just as oil was set to test session lows after another massive oil build, sending US crude inventories to all time highs, many were wondering if the same exact algos that struck for the past weeks, would reappear sending oil surging on negative data would hit again. The answer: a resounding yes. While it is […]

WTI, RBOB Prices Slide After Biggest Inventory Build Since October

WTI (and RBOB) prices slid lower into the NYMEX close ahead of API's report tonight that showed further major builds in crude and products. Crude saw inventories rise 5.83mm barrels last week – the most since the end of October and while Cushing saw its 4th weekly draw in a row, Gasoline and Distillates both […]

Oil Slides After Bigger Than Expected Inventory Build

Oil prices were back to unchanged ahead of DOE data, after falling on last night's surprise API inventory build. Prices jumped higher however as DOE reported a much smaller build than API (+614k vs +4.2mm), though admittedly a build (expectations were for a draw). Cushing built for the 4th week of the last 5 but […]

Somebody Has To Go Out of Business in the Oil Market (Video)

By EconMatters Economic theory suggests that ultimately somebody still needs to go out of business in the oil industry, and after 2 plus years of massive declines in prices we seem to be right back where we started with this oversupply crisis in the oil market. US Oil Production seems to have bottomed at 8.4 […]

How Russia Outsmarted OPEC

Submitted by Irina Slav via, OPEC’s historical deal to cut production has been sealed, and oil prices have jumped as a result, comfortably above the $50 per barrel mark. According to Lukoil’s vice president, Leonid Fedun, the average price of crude in 2017 could reach US$60 a barrel, thanks in no small part to […]

Oil May Plunge to $20, Signalling Economic Disaster: “The Numbers Are Dreadful And Unprecedented”

The price of oil has long been a key indicator of economic health and stability. And that index is tanking fast. In the last few years, dramatic overproduction of oil has become a major tool of geopolitical conflict. As prices have plummeted from $110/barrel to $40, Americans have tapped huge sources of fracking and flooded […]