Silver as an investment

Category Archives: Petroleum (Industry)

Hurricane Harvey Is A Disaster For OPEC

Authored by Nick Cunningham via OilPrice.com, The skies are clearing over Houston, but the damage from the remaining elements of Hurricane Harvey has spread east to Port Arthur and Lake Charles along the Texas-Louisiana border. That has knocked more refineries offline, including the largest refinery in the United States. In the aftermath of the storm, […]

Is Another Oil Head-Fake Coming?

Authored by Charles Hugh Smith via OfTwoMinds blog, The dramatic declines in the costs of oil production will be boosting supply at the very moment that demand is falling. Over the past decade I've addressed what I call Head-Fakes in the cost of oil/fossil fuel: even though we know the cost of extracting and processing […]

WTI Tumbles After Surprise Crude Inventory Build

Following the ugliest day in a month for WTI (on OPEC production increase survey), bulls hopes rest on tonight's API data confirming the recent trend of inventory draws but that was not to be. Against expectations of a 3.1mm draw, API reported crude inventories built by 1.78mm barrels last week. The kneejerk reaction was clear […]

Crude Crashes, Bonds Bid, & Trannies Turmoil But VIX Vanquished To 9 Handle Again

With oil crashing, 'hard' economic data slumping, political chaos ahead of the debt ceiling debacle, and The Fed about to embark on something no central bank has ever done (let alone done successfully), it should be no surprise that earnings expectations are being ramped exponentially higher and The Dow (thanks in large part to Boeing […]

WTI Jumps Above $50 On Report US Prepping Sanctions Against Venezuela Oil Industry

After both Brent and WTI rose above their respective 50DMAs on Friday, capping 2017’s best weekly rally for oil, the rising tide is accelerating as the latest CFTC COT data confirmed, when net specs boosted bullish Nymex WTI crude oil bets by 27K net-long positions to 423K, the highest in two months, as producers continued […]

Rig Count Rises By Just 2 As Goldman Expects Oil Market To Rebalance By Early 2018

With WTI heading for its best week since 2016, demand and inventory data is trumping production for now and today's Baker Hughes rig count data did nothing to change that as, following last week's 1 rig drop, producers only added 2 oil rigs in the last week to 766. *U.S. GAS RIG COUNT UP 6 […]

2016’s Worst-Performing Stock Market Is Exploding Higher

In 2016, the world's worst-performing stock market (in dollars) was Nigeria.   2017 is a very different picture for the African nation… Having politely refused OPEC's demands to cut crude production, Nigerian stocks have rallied for 16 successive days, a feat last accomplished in 2001… As Bloomberg notes, the benchmark index is up almost 50 […]

Peak Shale: Anadarko Just Became The First US Oil Producer To Slash CapEx

It appears that Horseman Global’s Russell Clark may have been spot on with his bearish take on the US shale sector. As a reminder, in his latest letter to investors, Clark said that “the rising decline rates of major US shale basins, and the increasing incidents of frac hits (also a cause of rising decline […]

Libya’s Oil King Won’t Be Stopped By OPEC

Authored by Tsvetana Paraskova via OilPrice.com, Conflict-torn Libya, divided between rival factions in the east and the west, recently reached 1 million bpd of crude oil output – for the first time since 2013. The oil production recovery has put in the spotlight the chairman of Libya’s National Oil Corporation (NOC), Mustafa Sanalla, whom analysts […]

Junk Bonds Are Finally Starting To Care About Oil

Back in May, we pointed out an interesting observation made by Goldman: unlike late 2015 and most of 2016, when equities demonstrated surprising resilience to the swoon in oil prices, in 2017 OPEC’s failure to stabilize oil prices finally hit energy equities disproportionately.  As Goldman said in mid-May, discussing the latest crude oil selloff, which […]