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Daily Oil Commentary by Matt Stanley

Matt Stanley
Posted:17/8/17
Morning all. Brent closed down 0.53 last night to $50.27 and WTi closed at $46.78 down 0.77. EIA data last night showed crude stocks fell by a whopping 9mn bbls. Refinery runs are up to a dizzying 96.5% of capacity and like i said yesterday, who can blame them? Total products demand over the last month averaged 21.2 million barrels per day, up by 2.0% from the same period last year. Not bad right? You would expect a fairly decent rally on the back of this news yeah? Errrrrr wrong, go to back of the room and

Daily Oil Commentary by Matt Stanley

Matt Stanley
Posted:16/8/17
Morning all. Brent closed up 0.07 last night to $50.80 and WTi closed down 0.04 to $47.55. So APi came out with their brilliant, accurate figures last night and said that crude stocks drew by just over 9 million barrels last week. Good news right? Well, it's difficult to say to be honest. It's peak driving season and gasoline inventories apparently built last week so that’s not particularly encouraging. Cushing stocks also rose by about 1.5mn bbls but the breadwinner at the moment is distillates. That showe

The Oil Price Tug Of War

OilPrice.com
Posted:16/8/17
Oil prices started the week down from last week, with WTI dipping back below $48 per barrel. There is not a ton of direction for the market right now, with expectations of rising U.S shale weighing on the benchmark prices. “Shale is still rising strongly,” said Olivier Jakob, an oil analyst at Petromatrix, according to the WSJ. There are doubts over whether WTI can “move above $50, with the capacity how it is in the U.S.,” he said. He went on to add that trading was flat on Tuesday because “there is nothing

Big Oil Follows Silicon Valley Into Backing Green Energy Firms

Bloomberg Technology
Posted:16/8/17
Major oil companies are joining Silicon Valley in backing energy-technology start-ups, a signal that that those with the deepest pockets in the industry are casting around for a new strategy. From Royal Dutch Shell Plc to Total SA and Exxon Mobil Corp., the biggest investor-owned oil companies are dribbling money into ventures probing the edge of energy technologies. The investments go beyond wind and solar power into projects that improve electricity grids and brew new fuels from renewable resources.

2 degrees of separation – Transition risk for oil and gas in a low carbon world

Carbon Tracker
Posted:16/8/17
This new analysis provides a way of understanding whether the supply options of the largest publicly traded oil and gas producers are aligned with demand levels consistent with a 2 degree Celsius (2D) carbon budget. By allocating the carbon budget to potential oil and gas projects, through applying the economic logic of a carbon supply cost curve, it is possible to identify which companies have the highest exposure to potential capital expenditure (capex) to 2025. This report provides a snapshot of the pote

Daily Oil Commentary by Matt Stanley

Matt Stanley
Posted:15/8/17
Morning all. Brent closed down 1.37 last night to $50.73 and WTi closed at $47.59 down 1.23. Another woeful day for the bulls yesterday as the market reacted to news that US shale output will rise AGAIN in September. Relentless. I'm sure there are a few oil traders who went long the market and have that same look on their face when their boss asks them what they're doing as a dog does when it catches you doing something you really shouldn't be doing. Awkward. It take a brave person and probably quite a lot

Daily Oil Commentary by Matt Stanley

Matt Stanley
Posted:14/8/17
Morning all and I hope everyone had a good weekend. Brent closed Friday up 0.20 to $52.10 and WTi closed at $48.82 up 0.23. Good old Burnley hey, nobody thought they would have a chance against Chelsea - then suddenly they were 3 nil up and won 3-2. Take that Conte. I was one of the sceptics if I'm honest, I would have actually said that Burnley has got about as much chance of beating Chelsea as this crude oil market has of rising above $55. I think I'm safe about one of those statements though. Crude remai

World's getting thirstier for oil

Khaleej Times
Posted:13/8/17
World oil demand will grow more than expected this year, helping to ease a global glut despite rising production from North America and weak Opec compliance with output cuts, the International Energy Agency said on Friday. The agency raised its 2017 demand growth forecast to 1.5 million barrels per day (bpd) from 1.4 million bpd in its previous monthly report and said it expected demand to expand by a further 1.4 million bpd next year. "Producers should find encouragement from demand, which is growing year-

OMR: All in it together?

International Energy Agency
Posted:13/8/17
The re-balancing of the oil market desired by the leading producers has been a stubborn process and it takes time for the numbers to confirm what many observers instinctively feel has already happened. Sure enough, new data suggests that in 2Q17 global stocks fell by 0.5 mb/d and preliminary data for July, particularly in the United States where stocks fell by 790 kb/d, is supportive. Even so, we must not forget that they are falling from a very great height in volume terms. At the end of 2Q17, OECD commerc

OPEC Monthly Oil Market Report

OPEC
Posted:13/8/17
The Monthly Oil Market Report (MOMR) contains a wealth of information, including developments in the world economy, data on oil prices, supply and demand, crude and product stocks and much more.

Daily Oil Commentary by Matt Stanley

Matt Stanley
Posted:13/8/17
Morning all and Happy Friday. Brent closed down 0.80 last night to $51.90 and WTi closed at $48.59 down 0.97. I know I said on Tuesday that things were a little bit boring at the moment but week on week Brent is down $0.11. Or 0.002 %. That's it. But what better way to turn your mood round than the start of the English Premier League? To be honest it feels like the season never actually ended, these days you get all the pre-season friendlies aired as well so there’s never really a break. I remember when I w

Big Oil Might Be In Better Shape Than U.S. Shale

OilPrice.com
Posted:10/8/17
For much of the past three years, the oil majors have struggled to adapt to the new reality of low oil prices, while at the same time, their smaller and nimbler rivals deftly pivoted to the ebbs and flows of oil price movements. Big Oil, it has been said, was ill-equipped to deal with $50 oil, dragged down by the enormous expenses on their billion-dollar megaprojects. Shale, on the other hand, was the future, and production surged in places like the Permian Basin. The oil majors finally saw the writing on t

Daily Oil Commentary by Matt Stanley

Matt Stanley
Posted:10/8/17
Morning all. Brent closed last night at $52.70 up 0.56 and WTi closed at $49.56 up 0.39. So EIA data last night was met with the same bored look that a cow has when it gives you one of those weird stares while eating grass. I'm scared of cows btw. Crude stocks were down a healthy 6.4mn bbls but refinery runs were up to a mahoosive 96.3% of capacity so all the crude that was drawn was basically run through the refineries and this resulted in a gasoline build of 3.4mn bbls. Driving season? Hmmmmm. As you all

Energy Technology Perspectives 2017

International Energy Agency
Posted:10/8/17
An evolving energy system Policy signals are needed to accelerate and steer its transformation A number of trends indicate that the global energy system is changing. The energy mix is being redefined; in the power sector, renewables and nuclear capacity additions supply the majority of demand growth. On the demand side, innovative transportation technologies are gaining momentum and are projected to increase electricity demand. Rising living standards mean more people will buy appliances, electronic devices

Natural Gas Prices Poised To Rise As Exports Boom

OilPrice.com
Posted:9/8/17
New data from the Energy Information Administration (EIA) has brought some good news for advocates of U.S. natural gas production. In three of the first five months of 2017, the United States exported more natural gas than it imported, reversing a trend of net-imports that’s endured for nearly sixty years. Rising exports, fueled by a the shale boom which has seen a marked increase in U.S. natural gas production, have been facilitated by new infrastructure and rising demand outside the U.S., most notably in