NRGO News and Press, Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E NRGO From 08/28/21

The Baker Hughes Rig Count is higher by 5 oil rigs with the gas rig count unchanged. Crude Imports have risen from pre-COVID 1.6mil BBL/Day to 3-4mil BBL/Day as the US recovery progressed. With the economy continuing to expand and fossil fuel consumption globally returning to pre-...

Supply will outstrip demand in the near-term. Oil price is at top of a down channel after Friday. Sentiment from seasonality, new Covid wave, peak spending is eroding. For further details see: Oil's Rise From Hurricane Ida And Fed Statements Won't Last

OPEC reports crude only production for its members every month. As a part of OPEC the production from the sub-Saharan countries is relatively small, even if they do represent almost half the remaining members. For each of these countries there is a strong correlation between GDP a...

Crude oil demand may outstrip supply in 2-5 years. Crude oil pricing might return to old highs near $150 if demand growth continues. The unintended effect of government energy policy may at least temporarily generate lucrative returns with more traditional energy investments. ...

Melek: Data suggests oil demand we expected in Q3 and early part of Q4 may not materialize indicating markets are a lot less tight than we thought. Melek: Oil inventories drawdowns likely to abate. Melek: We still like oil around US$66-68/barrel. For further details see: ...

The latest bearish developments in global oil markets invalidates the earlier requests from both the White House and the IEA for OPEC+ to boost oil output. Certainly, the cautious approach of OPEC+ that was taken in July proved to be right, gradually increasing output monthly by 400,0...

April Non-OPEC production dropped by 550 kb/d to 48,225 kb/d. The biggest contributors to the decrease were Canada, 452 kb/d and the UK, 218 kb/d. In the August report, the forecast December 2022 output was revised down from 52,320 by 107 kb/d to 52,213 kb/d. While eight oil rigs ...

The total count of U.S. active drilling rigs added three more to reach 503, according to the latest weekly survey from Baker Hughes. Drilling rigs targeting crude oil jumped by 8 to 405 after rising by 10 in the previous week, while gas rigs fell by 5 to 97 and one rig was classified as misce...

After the pandemic’s initial spending splurge, the bill is due, and global growth is mean-reverting again. Treasury yields are confirming the disinflationary ride as we thought that they should. Similar trends are unfolding in the great hot north, with Canadian government b...

The Saudi oil price comfort band is between $68 and $75 Brent. With Brent now below this band, the Saudis will likely push for a delay in production increase. Goldman estimates Delta Variant to impact global oil demand by ~1 million b/d. If so, it makes sense for OPEC+ to delay pr...