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Reverse V-Shaped Recovery Boosts Oil Price
Brent crude prices have more than doubled since the lows of late April, and while part of that is a reflection of the demand-driven recovery we’ve seen on a global basis, it is also the result of global oil producers throttling back on exports. While this recent discipline is to be commended, let us not […]
Tags: China oil imports, Saudi oil exports, US oil exports -
Bringing Home the Bagels
Today’s blog looks at Saudi deliveries to its Motiva Port Arthur refinery on the US Gulf, as well as the flows of Iraqi and Saudi barrels to other destinations such as India and South Asia.
Tags: Iraq oil exports, OPEC, Saudi oil exports -
Up, Up and Away
Oil in transit has been ramping up strongly in recent months, as more supply has come to market than expected. This could be interpreted as bullish, if it were not for rising floating storage volumes on a global basis.
Tags: oil in transit, Saudi oil exports, Saudi oil production -
Increasing Tensions, Increasing Flows
US crude imports from Saudi Arabia have just hit a 16-month high, as tension increases between the two. Motiva’s Port Arthur refinery, among other things, mean Saudi energy flows are unlikely to be impacted by recent strained relations.
Tags: China oil imports, India oil imports, Iran oil exports, Iraq oil exports, Japan oil imports, Saudi oil exports -
ClipperClip: Covering all bases
My latest appearance on the TD Ameritrade Network covered all manner of topics, including geopolitical tension with Iran, Saudi’s balancing act, contango in the Brent market, trade wars, even a bit of gasoline at the end.
Tags: contango, Iran sanctions, rbob, Saudi oil exports, Strait of Hormuz -
ClipperClip: OPEC cuts already being unwound
Last night’s appearance on CNBC Asia highighted how OPEC production cuts are already being unwound by Saudi, UAE and Kuwait – reflected in significantly higher crude exports from all three so far this month.
Tags: Kuwait oil exports, OPEC oil production, OPEC production cuts, Saudi oil exports, UAE oil exports -
ClipperClip: 100 million barrels
Last night’s appearance on CNBC Asia covered falling US inventories, as well as US oil exports, us product exports, and Saudi Arabia’s current state of mind.
Tags: Forties pipeline outage, Saudi oil exports, US oil exports, us product exports -
Reality bites
Today’s blog looks at the progress – or lack thereof – of the OPEC production cut deal through its first six months, illustrating how crude remains plentiful.
Tags: OPEC oil exports, Saudi oil exports, US oil imports -
The Hangover
Today’s blog looks at the ongoing OPEC production cut deal, and what needs to be done in terms of exports for the cartel to achieve its goal.
Tags: OPEC exports, Saudi oil exports -
EIA oil draw due to lower imports
Today’s blog post takes a look at OECD inventories, Saudi oil exports to the U.S., refinery runs, natural gas prices, and the Permian Basin.
Tags: OECD oil inventories, refinery runs, Saudi oil exports