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OPEC rescheduled its meetings to take place on July 1 st and 2 nd next week from June 26 th . It was a sign of incredible weakness because the meetings had been scheduled six months in advance, and then the Russian minister recently said he had a scheduling conflict. And Russia is not even a...
Welcome to the US oil production edition of the Oil Markets Daily! There are a lot of misinformed readers out there today, so let us clear a few things before we get started. Weekly US oil production reported in the EIA weekly report is derived from EIA's short-term energy outlook or...
We recently had the honor to share our thoughts on the oil and gas equity markets with clients and friends. Ahead of these meetings and calls, we reviewed tens of thousands of pages of materials. From these pages, we gathered dozens of graphs, slides and macro analyses from a variety of source...
As the international oil cartel prepares to meet, the group that decides production policy for some of the world's leading petroleum producers have lost most of its influence in the market. While the market still watches OPEC, two of the three leading producers are not members. The triad that ...
As we’ve been saying for a while now, as refining inputs increased to more normal levels, inventories would fall… Wednesday, the data showed US crude inventory fell 12.79mil bbl (the largest decline in almost 3 yrs). Expectations were for a 2.8M bbl draw. While refining inputs ...
Note: This article was first published to HFI Research subscribers on June 16th. For more info about HFI Research, see here for details . In part 2 of this week's WCTW, we will explain why product storage isn't lower. In the case of this article, we will be focusing on gasoline, distillat...
Over the course of the last several months, tensions have been building around the tinderbox that is the Persian Gulf. The United States has been tightening the economic noose around the neck of its nuclear nuisance in Iran. Finally, economic hardship in Iran and inadequate and unequal support...
I recently wrote an article discussing how a negotiated settlement of the U.S. - Iran nuclear deal could impact the oil market. Given recent incidents, I discuss below how an armed conflict involving the U.S. and Iran might play out in the oil market. I will recount how the first Gulf War im...
By Dennis Coyne New tight oil estimates were recently released by the EIA. The chart below compares estimates from December 2018 to May 2019, where the December 2018 estimate is that estimate with the most recent month estimated being December 2018 and likewise the May 2019 estimate has ...
By Fred Fromm, CFA, Vice President, Research Analyst, Franklin Equity Group Recent attacks on oil tankers in the Middle East have grabbed headlines and revived geopolitical fears. However, Fred Fromm, portfolio manager of Franklin Natural Resources Fund, says other factors, namely global ...
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WALNUT CREEK, Calif. , Nov. 20, 2019 /PRNewswire/ -- United States Commodity Funds LLC (the "Company"), a sponsor of exchange-traded products, plans to close and liquidate two of its exchange-traded products. On November 20, 2019 , the Board of Directors of the Company authori...
WALNUT CREEK, Calif. , Aug. 6, 2019 /PRNewswire/ -- USCF today announced that it has joined the Raymond James IAD ETF No-Transaction-Fee (NTF) platform providing access to all thirteen of their exchange-traded funds and products. "We are excited to expand our suite of fun...