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  • uploads///Libya
    Miscellaneous

    Libya’s Crude Oil Production: Bullish or Bearish for Oil Prices?

    A Reuters survey estimates that Libya’s crude oil production rose by 50,000 bpd to 930,000 bpd in September 2017—compared to the previous month.

    By Gordon Kristopher
  • uploads///Sept
    Energy & Utilities

    What Dennis Gartman Thinks about Crude Oil Prices

    November WTI (West Texas Intermediate) crude oil futures’ moving averages suggest that crude oil prices could keep trading higher going forward.

    By Gordon Kristopher
  • uploads///NG rigs
    Energy & Utilities

    OPEC Could Pressure US Natural Gas Prices in 2018

    US natural gas rigs rose 35% in the last 12 months, while US natural gas prices (UNG) fell 20% during this period.

    By Gordon Kristopher
  • uploads///Distillate
    Energy & Utilities

    Relationship between US Distillate Inventories and Oil Prices

    US distillate inventories rose by 2,747,000 barrels to 127.7 MMbbls (million barrels) on November 17–24, 2017. Inventories rose 2.2% week-over-week.

    By Gordon Kristopher
  • uploads///US crude oil production
    Energy & Utilities

    US Crude Oil Production Is near 4-Year Low

    The EIA estimates that US crude oil production fell by 1,074,000 bpd (barrels per day) to 8,406,000 bpd on October 6–13, 2017.

    By Gordon Kristopher
  • uploads///Sept
    Energy & Utilities

    Will Brent and US Crude Oil Prices Rise in 2018?

    November US crude oil (DWT)(UWT)(USO) futures are above their 20-day, 50-day, and 100-day moving averages at $49.25, $48.77, and $48.11 per barrel as of September 25.

    By Gordon Kristopher
  • uploads///US distillate
    Energy & Utilities

    US Distillate Inventories Rose for the Eighth Time in 10 Weeks

    US distillate inventories rose by 0.64 MMbbls (million barrels) to 139.8 MMbbls on January 12–19, 2018, according to the EIA.

    By Gordon Kristopher
  • uploads///Inventory and price
    Energy & Utilities

    Will the US Dollar and Inventories Impact Crude Oil Futures?

    March US crude oil (DBO) (UWT) futures contracts increased 1.8% to $65.61 per barrel on January 24, 2018.

    By Gordon Kristopher
  • uploads///Oil forecast Dec
    Miscellaneous

    Will Crude Oil Prices Start 2018 on a Positive Note?

    A Reuters survey estimated that Brent and US crude oil prices could average $58.84 per barrel and $54.78 per barrel in 2018.

    By Gordon Kristopher
  • uploads///Iraq
    Energy & Utilities

    Is Iraq’s Crude Oil Production Bullish or Bearish for Oil Traders?

    The EIA estimates that Iraq’s crude oil production fell by 35,000 bpd (barrels per day) to 4,320,000 bpd in November 2017 compared to the previous month.

    By Gordon Kristopher
  • uploads///Crude oil
    Energy & Utilities

    What Are the Key Resistance Levels for Crude Oil Futures?

    March US crude oil futures were above their 100-day, 50-day, and 20-day moving averages on January 26, 2018—more bullish momentum for oil prices.

    By Gordon Kristopher
  • uploads///Crude oil rigs
    Energy & Utilities

    US Crude Oil Rigs Rose the Most since June 2017

    Baker Hughes released its weekly oil and gas rig count report on November 10. It estimated that US oil rig counts rose by nine to 738 on November 3–10.

    By Gordon Kristopher
  • uploads///Iran crude oil production
    Miscellaneous

    Will Crude Oil Futures and S&P 500 Move in the Same Direction?

    February US crude oil (UWT) (USL) futures contracts rose 0.5% to $61.73 per barrel on January 8. Prices are near the highest level since December 2014.

    By Gordon Kristopher
  • uploads///Cush
    Energy & Utilities

    Cushing Inventories Hit January 2015 Low

    A Bloomberg survey estimates that the crude oil inventories at Cushing could have declined by 2.3 MMbbls (million barrels) on January 12–19, 2018.

    By Gordon Kristopher
  • uploads///Saudi Arabia
    Energy & Utilities

    Will Saudi Arabia Extend the Output Cut Deal?

    A Reuters survey estimates that Saudi Arabia’s crude oil production fell by 40,000 bpd to 9.98 MMbpd in August 2017—compared to the previous month.

    By Gordon Kristopher
  • uploads///Major producers June
    Energy & Utilities

    OPEC’s Plan for a Production Cut Exit Strategy

    OPEC’s crude oil production was steady at 32.47 MMbpd (million barrels per day) in December 2017, according to a Bloomberg survey.

    By Gordon Kristopher
  • uploads///Rigs
    Energy & Utilities

    Why US Natural Gas Traders Are Tracking OPEC’s Production

    Baker Hughes, a GE company, released its weekly US natural gas rigs report on January 19, 2018. Natural gas rigs increased by two to 189 on January 12–19.

    By Gordon Kristopher
  • uploads///Oil prices
    Miscellaneous

    Will Crude Oil Futures Rise or Fall This Week?

    WTI crude oil (SCO) futures settled at $64.30 per barrel on January 12, 2018—the highest level since December 2014.

    By Gordon Kristopher
  • uploads///Distillates
    Miscellaneous

    US Distillate Inventories Fell for the Third Time in 10 Weeks

    US distillate inventories fell by 3.8 MMbbls or 2.7% to 139.2 MMbbls on January 5–12, 2018. The inventories fell by 29.9 MMbbls or 18% from a year ago.

    By Gordon Kristopher
  • uploads///Distillate
    Energy & Utilities

    Distillate Inventories: More Bullish News for Oil

    The US Energy Information Administration (or EIA) released its weekly crude oil and gasoline inventory report on September 20, 2017.

    By Gordon Kristopher
  • uploads///oil and inventory
    Miscellaneous

    Will OPEC Meeting in Vienna Affect Crude Oil Futures?

    November US crude oil (UWT) (SCO) (DBO) futures contracts rose 1.6% and closed at $49.3 per barrel on September 20, 2017.

    By Gordon Kristopher
  • uploads///Price forecast dec
    Miscellaneous

    Crude Oil Prices Could End 2017 on a High Note

    A Reuters poll estimated that WTI crude oil (USL) prices could average $54.78 per barrel in 2018 after extending the production cuts.

    By Gordon Kristopher
  • uploads///image
    Miscellaneous

    Crude Oil Futures: Next Important Resistance Level

    WTI crude oil (UCO) futures closed at $62.01 per barrel on January 4, 2018—the highest level since December 2014. WTI prices rose ~12.4% in 2017.

    By Gordon Kristopher
  • uploads///OPEC
    Energy & Utilities

    OPEC’s Crude Oil Production Fell in October

    Reuters estimates that OPEC’s crude oil production fell by 80,000 bpd (barrels per day) to 32,780,000 bpd in October 2017—compared to the previous month.

    By Gordon Kristopher
  • uploads///Cushing
    Energy & Utilities

    Cushing Inventories Fell 8 Times in 10 Weeks

    A market survey estimates that Cushing inventories fell between August 18 and August 25, 2017. Cushing inventories fell for the eighth time in ten weeks.

    By Gordon Kristopher
  • uploads///JAG Upstream YTD Q Price
    Energy & Utilities

    Is Jagged Peak Energy’s Valuation Justified?

    This year, Jagged Peak Energy (JAG), has been the third-weakest US upstream stock.

    By Nicholas Chapman
  • uploads///Weekly US crude oil production
    Miscellaneous

    Will US Oil Production Pressure Crude Oil Futures?

    February WTI crude oil futures contracts fell 0.9% to $63.73 per barrel on January 16. Brent oil futures fell 1.6% to $69.15 per barrel on the same day.

    By Gordon Kristopher
  • uploads///US crude oil production
    Energy & Utilities

    Will US Crude Oil Production Undermine Crude Oil Futures?

    According to the EIA, US crude oil production increased by 28,000 bpd (barrels per day) to 9,782,000 bpd on December 22–29, 2017.

    By Gordon Kristopher
  • uploads///OECD crude oil inventories
    Energy & Utilities

    US and OECD’s Crude Oil Inventories Could Impact Oil’s Price Rally

    US crude oil inventories decreased by 1.1 MMbbls to 411.6 MMbbls on January 12–19, 2018. They also fell ~12% in 2017.

    By Gordon Kristopher
  • uploads///DXY
    Energy & Utilities

    US Dollar Hit a 3-Year Low: Good News for Crude Oil?

    The US Dollar Index (UUP) fell 0.64% to 90.39 on January 16, 2018—the lowest level since December 2014.

    By Gordon Kristopher
  • uploads///US crude oil production
    Energy & Utilities

    Is US Crude Oil Production near an All-Time High?

    US crude oil production rose by 128,000 bpd (barrels per day) or 1.3% to 9,878,000 bpd on January 12–19, 2018, according to the EIA.

    By Gordon Kristopher
  • uploads///Iran crude oil production
    Energy & Utilities

    Crude Oil Futures and Wall Street Extends the Rally

    US crude oil futures contracts for February delivery also rose 0.6% to $62.01 per barrel on January 4, 2018—the highest settlement since December 2014.

    By Gordon Kristopher
  • uploads///CUSH
    Energy & Utilities

    Cushing Inventories Fell 33% from the Peak

    Analysts expect that Cushing crude oil inventories could have declined on January 5–12, 2018. A fall in Cushing inventories is bullish for oil prices.

    By Gordon Kristopher
  • uploads///India oil demand
    Miscellaneous

    India’s Crude Oil Imports Hit a Record in 2017

    India is the world’s third-largest crude oil consumer. Its oil imports hit a record in 2017. India’s crude oil imports rose 1.8% to 4.3 MMbpd in 2017.

    By Gordon Kristopher
  • uploads///US crude oil production
    Energy & Utilities

    OPEC Upgraded US Crude Oil Production Figures for 2018

    According to the EIA, US crude oil production increased by 258,000 bpd (barrels per day) to 9,750,000 bpd on January 5–12, 2018.

    By Gordon Kristopher
  • uploads///OPEC production Dec
    Energy & Utilities

    Why OPEC’s Crude Oil Production Rose in January

    A Reuters survey showed that OPEC’s crude oil production increased by 100,000 bpd (barrels per day) to 32.4 MMbpd (million barrels per day) in January 2018.

    By Gordon Kristopher
  • uploads///COP WU Correlation
    Energy & Utilities

    Understanding ConocoPhillips Stock’s Correlation with Crude Oil

    ConocoPhillips’s stock performance As we saw in the previous part of this series, ConocoPhillips’s (COP) stock price rose ~2% in the week ended March 9, while crude oil (UWT) (SCO) (DWT) rose ~1%, suggesting that COP stock followed crude oil. In this part, we’ll try to quantify this correlation between COP stock and crude oil. ConocoPhillips’s stock […]

    By Nicholas Chapman
  • uploads///US crude oil production
    Miscellaneous

    US Crude Oil Production Fell Slightly from Record High

    US crude oil production decreased by 1,000 bpd to 10,270,000 bpd on February 9–16, 2018. However, production increased by 1,269,000 bpd or 14.1% YoY.

    By Gordon Kristopher
  • uploads///US crude oil inventories
    Miscellaneous

    Drop in US Crude Oil Inventories Boosts Oil Prices

    The EIA reported that US crude oil inventories decreased by 1.6 MMbbls (million barrels) to 420.5 MMbbls on February 9–16, 2018.

    By Gordon Kristopher
  • uploads///Weekly US crude oil production
    Miscellaneous

    Will OPEC’s Production Cuts Offset Record Crude Oil Production?

    US crude oil production increased by 20,000 bpd (barrels per day) to a record high of 10,271,000 bpd on February 2–9, 2018.

    By Gordon Kristopher
  • uploads///DXY
    Miscellaneous

    US Dollar Could Support Crude Oil Futures

    March US crude oil futures rose 0.51% to $59.59 per barrel at 1:00 AM EST on February 13, 2018.

    By Gordon Kristopher
  • uploads///US crude oil production
    Miscellaneous

    US Crude Oil Production Hit a New Record

    The EIA estimates that US crude oil production increased by 332,000 bpd to a record high of 10,251,000 bpd on January 26–February 2, 2018.

    By Gordon Kristopher
  • uploads///DXy
    Miscellaneous

    Is US Dollar Stalling the Rally in Crude Oil Futures?

    The US Dollar Index appreciated 0.6% to 89.19 on February 2, 2018. The dollar appreciated to due to better-than-expected US jobs data.

    By Gordon Kristopher
  • uploads///US crude oil inventories
    Energy & Utilities

    US Crude Oil Inventories Limit the Upside for Oil Prices

    The EIA reported that US crude oil inventories increased by 6.8 MMbbls (million barrels) to 418.3 MMbbls on January 19–26, 2018.

    By Gordon Kristopher
  • uploads///Libya
    Miscellaneous

    Restarting the Wintershall Oilfields in Libya Could Impact Oil Prices

    On January 21, the NOC (National Oil Corporation) of Libya said that it would restart the Wintershall AG’s Sara oilfield. NOC is a state-owned oil company.

    By Gordon Kristopher
  • uploads///US crude oil inventories
    Energy & Utilities

    US Crude Oil Inventories Fell 10% in the Last 10 Weeks

    The EIA reported that US crude oil inventories declined by 6.9 MMbbls (million barrels) or 1.6% to 412.7 MMbbls on January 5–12, 2018.

    By Gordon Kristopher
  • uploads///gasoline inventories
    Energy & Utilities

    US Gasoline Inventories: More Concerns for Oil in 2018?

    US gasoline inventories rose by 4.1 MMbbls (million barrels) to 237.3 MMbbls between December 29, 2017, and January 5, 2018.

    By Gordon Kristopher
  • uploads///oil firecasts jan
    Energy & Utilities

    EIA Upgraded Crude Oil Price Forecasts for 2018

    The EIA forecast that Brent (BNO) crude oil would average $59.74 per barrel in 2018—4.3% higher than the previous estimates in December 2017.

    By Gordon Kristopher
  • uploads///Iran crude oil production
    Energy & Utilities

    Civil Unrest in Iran Could Impact Crude Oil Prices

    On January 3, public protests continued for the sixth consecutive day in Iran. The protests against the government are due to weak economic conditions.

    By Gordon Kristopher
  • uploads///US crude oil production monthly
    Energy & Utilities

    US Crude Oil Output Hit the Highest Level since May 1971

    US crude output increased by 167,000 bpd to 9.64 MMbpd in October 2017—compared to the previous month. It was the highest level since May 1971.

    By Gordon Kristopher
  • uploads///gasoline inventory
    Miscellaneous

    Why Oil Traders Are Tracking US Gasoline Inventories

    US gasoline inventories rose by 0.5 MMbbls (million barrels) or 0.3% to 228.3 MMbbls from December 15 to 22, 2017, per the EIA.

    By Gordon Kristopher
  • uploads///Refinery demand
    Energy & Utilities

    US Crude Oil Refinery Demand and Imports Impact Oil Prices

    According to the EIA, US crude oil refinery demand rose by 111,000 bpd (barrels per day) to 17.1 MMbpd (million barrels per day) on December 8–15, 2017.

    By Gordon Kristopher
  • uploads///Rigs
    Energy & Utilities

    US Crude Oil Rig Count: Almost Flat in the Last 5 Weeks

    Baker Hughes published its US crude oil rig report on December 22, 2017. The US crude oil rig count was flat at 747 on December 15–22, 2017.

    By Gordon Kristopher
  • uploads///Gasoline inventories
    Energy & Utilities

    US Gasoline Inventories: Bearish Driver for Crude Oil Futures

    The EIA estimated that US gasoline inventories rose by 1.2 MMbbls (million barrels) to 227.7 MMbbls on December 8–15, 2017.

    By Gordon Kristopher
  • uploads///US crude oil inventories
    Energy & Utilities

    US Crude Oil Inventories Fell almost 19% from Their Peak

    The EIA estimated that US crude oil inventories fell by 6.4 MMbbls (million barrels) or 1.5% to 436.4 MMbbls on December 8–15, 2017.

    By Gordon Kristopher
  • uploads///Libya crude oil production
    Miscellaneous

    Libya’s Crude Oil Production Is near a 4-Year High

    The EIA estimates that Libya’s crude oil production rose by 20,000 bpd (barrels per day) or 2.1% to 980,000 bpd in November 2017.

    By Gordon Kristopher
  • uploads///OIl and price inventory
    Miscellaneous

    Will US Crude Oil Inventories Push Crude Oil Prices Higher?

    US crude oil inventories fell 17.3% from their peak. So far, they have fallen 8.3% in 2017. Similarly, oil (DWT) (UCO) prices have risen ~9% in 2017.

    By Gordon Kristopher
  • uploads///NG consumption
    Energy & Utilities

    EIA Upgrades US Natural Gas Production for 2018

    US dry natural gas production was flat at 76.1 Bcf (billion cubic feet) per day on December 7–13, 2017, according to PointLogic.

    By Gordon Kristopher
  • uploads///NG rig
    Energy & Utilities

    US Natural Gas Rig Count Has Risen 33.3% in 2017

    Baker Hughes estimates that the international natural gas rig count fell by 11 to 186 in November 2017—compared to the previous month.

    By Gordon Kristopher
  • uploads///US crude oil prodcuion weekly
    Energy & Utilities

    US Crude Oil Production Has Risen 16% since July 2016

    US crude oil production rose by 73,000 bpd (barrels per day) to 9,780,000 bpd on December 1–8, 2017, according to the EIA.

    By Gordon Kristopher
  • uploads///distillate inventory
    Energy & Utilities

    US Distillate Inventories Fell for the First Time in 4 Weeks

    US distillate inventories fell by 1.3 MMbbls (million barrels) to 128.1 MMbbls on December 1–8, 2017, according to the EIA.

    By Gordon Kristopher
  • uploads///image
    Energy & Utilities

    How Could US Tax Bill Affect Dollar and Crude Oil Prices?

    The US Dollar Index advanced 0.1% to 92.8 last week. Consequently, it pressured oil prices during the week.

    By Gordon Kristopher
  • uploads///Major producers June
    Miscellaneous

    How Long Can OPEC Extend the Production Cuts?

    OPEC’s meeting will be held in Vienna on November 30, 2017. Crude oil (BNO) (DBO) (SCO) prices have risen 23% since September 2017.

    By Gordon Kristopher
  • uploads///rigs
    Energy & Utilities

    Oil Prices: US Crude Oil Rigs Could Reverse the Trend

    Baker Hughes estimated that US oil rig counts rose by nine to 747 on November 17–November 22, 2017. The rigs rose 1.2% week-over-week and 57.6% YoY.

    By Gordon Kristopher
  • uploads///Major producers June
    Miscellaneous

    Will OPEC’s Meeting Help Crude Oil Bulls or Bears?

    OPEC’s meeting will be held on November 30, 2017. Reuters said that OPEC might extend the production cuts for nine more months.

    By Gordon Kristopher
  • uploads///Monthly US crude oil production
    Miscellaneous

    US Crude Oil Production Hit a 21-Month High

    US crude oil production rose by 37,000 bpd to ~9.5 MMbpd on September 15–22, 2017. Production has risen by ~1.05 MMbpd or ~12.4% year-over-year.

    By Gordon Kristopher
  • uploads///Gasoline demand
    Energy & Utilities

    US Gasoline Demand Today: Bullish or Bearish for Crude?

    The EIA estimates that weekly US gasoline demand fell 178,000 bpd (barrels per day) to 9.4 MMbpd between September 8 and September 15.

    By Gordon Kristopher
  • uploads///Iraq
    Miscellaneous

    Why Kurdish Regions Are Crucial for Iraq’s Crude Oil Exports

    Iraq is the second-largest OPEC producer. The EIA (U.S. Energy Information Administration) estimates that Iraq’s crude oil production rose by 25,000 bpd (barrels per day) to 4,500,000 bpd in August 2017.

    By Gordon Kristopher
  • uploads///China
    Miscellaneous

    China’s Crude Oil Imports Hit a 2017 Low

    China’s General Administration of Customs estimates that China’s crude oil imports fell by 180,000 bpd to 8 MMbpd in August 2017—compared to July 2017.

    By Gordon Kristopher
  • uploads///Gasoline inventory and prices
    Energy & Utilities

    Are Crude Oil Futures Signaling a Breakout?

    November US crude oil (UWT) (DWT) (USO) futures contracts rose 0.8% to $50.3 per barrel in electronic trading at 2:10 AM EST on September 20, 2017.

    By Gordon Kristopher
  • uploads///US crude oil production
    Miscellaneous

    How Hurricane Irma Could Impact Crude Oil Prices and Production

    October WTI (West Texas Intermediate) crude oil (USO)(UCO)(UWT) futures contracts fell 3.3% to $47.48 per barrel on September 8.

    By Gordon Kristopher
  • uploads///Refinery Demand
    Miscellaneous

    Pre-Hurricane Harvey, US Crude Oil Demand Hit a Record High

    US refinery crude oil demand The EIA (U.S. Energy Information Administration) estimates that US refinery crude oil demand rose by 264,000 bpd (barrels per day) to 17,725,000 bpd between August 18 and 25, 2017, reaching the highest level since 1982. Refinery demand rose 1.5% week-over-week and rose 1,110,000 bpd, or 6.6%, year-over-year. High refinery demand is […]

    By Gordon Kristopher
  • uploads///gasoline demand
    Energy & Utilities

    Will US Gasoline Demand Impact Gasoline and Crude Oil Futures?

    The EIA estimates that weekly US gasoline demand rose 107,000 bpd (barrels per day), or 1.1%, to 9.6 MMbpd between August 11 and August 18.

    By Gordon Kristopher
  • uploads///US Crude Oil Inventories
    Energy & Utilities

    US Crude Oil Inventories Fall in Line with Market Expectations

    A Reuters survey estimated that US crude oil inventories would fall 3.5 MMbbls between August 11, 2017, and August 18, 2017.

    By Gordon Kristopher
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