NRGO News and Press, Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E NRGO From 12/21/19

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last week’s WTI Weekly , the primary expectation for this week was for price discovery higher, barring failure of 58.80s as support. This expectation ...

In a recent post on Seeking Alpha, An 'Unprecedented Opportunity' in Oil Paradigm Shift , Mark Gordon, CIO of Ascent Oil Fund, argues that "We're about to move from the Age of Abundance to a Return to Scarcity." He says that the paradigm shift will have significant implications for energy s...

In a challenging macro environment for the energy space, the broad midstream universe has performed defensively this year. MLPs may finish down for the third consecutive year on a price-return basis given performance through December 10, with MLP performance substantially diverging from midstr...

Welcome to the disappointment edition of Oil Markets Daily! There are increasing signs of disappointing US shale growth projections for 2020. IEA and OPEC currently have +1.3 and +1.5 mb/d y-o-y (total liquids) for the US. IEA, in particular, has +0.9 mb/d for crude production growth y-o...

At the OPEC+ press conference on December 6 th , Saudi Energy Minister Prince Abdulaziz bin Salman claimed that the 500,000 b/d production cut was “fresh barrels” and that he was not “fiddling with the numbers.” But a country-by-country analysis shows the cuts addin...

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last week’s WTI Weekly , the primary expectation for this week was for price discovery higher, barring failure of 57.70s as support. This expectation ...

In the “ Declaration of Cooperation ,” OPEC and non-OPEC oil producing countries made a commitment to adjust their respective oil production levels, either voluntarily or through “managed decline.” Two non-OPEC members of the OPEC+ petroleum regulation club are re...

It's been a terrible year for those invested in most oil names, and especially those in the SPDR S&P Oil & Gas Exploration & Production ETF ( XOP ). While the S&P 500 ( SPY ) has managed to put up a robust double-digit return year-to-date, the SPDR S&P Oil & Gas Explo...

In 2016, OPEC had the brainstorm to pump up production in the hope that it would force US producers out of business. By flooding the market with petroleum, the expectation was that the energy commodity would drop to a level where US output costs would exceed the market price. Bankruptcies woul...

Whether it's the macro front or the oil market-specific front, things are starting to look a lot brighter. We will go through in this article these two topics to explain why we see a brighter future ahead. Oil market fundamentals - the slowdown in non-OPEC supply growth will change sentime...