NRGO News and Press, Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E NRGO From 02/19/20

Welcome to the not much left edition of Oil Markets Daily! Over the coming months, the story that US oil production growth is set to decelerate materially will become mainstream. We are already seeing it in the real-time data with US oil production now falling to ~12.6 mb/d, but this will ...

It is hard to find value in the stock market these days. Over recent weeks, stocks like Tesla and Shopify have taken off like rocket ships out of Elon Musk's creative laboratory to the upside. All of the leading indices have moved to record levels. While the spread of the Coronavirus weighed o...

With 2020 now comfortably underway and a new deal to be adhered to by OPEC and its non-OPEC allies, things are going to be interesting for the global oil market. In its latest report , OPEC provided market participants/watchers with a glimpse into how the first month of this year looked from ...

We took a brief hiatus from our weekly series Open Insights to update our oil thesis, but we’re now back to looking at the EIA’s Weekly Petroleum Status Report (“WPSR”). This is for the week of February 7, 2020. EIA reported a crude build of 7.5M barrels, about do...

Naphtha is an important raw material for the petrochemical industry. After five weeks of consecutive decline to the lowest level in 13 months, oil prices finally managed a weekly gain. Brent crude rose to $57.32 per barrel and WTI hit $52.05 per barrel. Oil prices rose as market particip...

On January 8, 2020, the price of nearby NYMEX crude oil futures ran out of steam on the upside at $65.65 per barrel. The high was just 95 cents below the peak price from 2019. Even though the "phase one" trade deal between the US and China appeared to boost optimism over Chinese economic growt...

With four years of experience in reaching consensus among the members of the OPEC+ group of oil exporters, it is not hard to imagine that group extending or deepening such cuts to mitigate the impact of the coronavirus outbreak on the global economy. This was clear during the extraordinary m...

In this article, we examine the significant weekly order flow and market structure developments driving WTI's price action. As noted in last week's WTI Weekly , the primary expectation for this week was for neutral to buy-side activity, barring failure of 49.31s as support. This expectation...

All OPEC data below is from the February edition of the OPEC Monthly Oil Market Report. The data thousand barrels per day and is through January 2020. OPEC Monthly Oil Marker Report OPEC 14 crude oil production was down 509,000 barrels per day in January. And that was after December produc...

OPEC released its Monthly Oil Market Report (MOMR) for February. It reported that demand for OPEC crude was 30.6 million barrels per day, 1.0 million lower than the 2018 level. It forecasts demand for OPEC crude will be 29.3 million in 2020, about 1.3 million lower than the 2019 level. It ...