By cEntellect
In Daily Hot Topics - Crude
Posted

OPEC NOV production down -11,000 BBL/day

OPEC’s official quota is 33.8 million BBL/day, so OPEC is producing -800,000 BBL/day less than quota. Ignore OPEC and OPEC+ announcements, and replace with Saudi Arabia + Russia behavior (not [...]

By cEntellect
In Daily Hot Topics - Crude
Posted

Gasoline unprofitable, causing record crude exports

The US refining market is rejecting light shale oil, so look for US exports to ramp up to next level of sustained > 3 million BBL/day, as compared to current level ~2 million BBL/day.

By cEntellect
In Daily Hot Topics - Crude
Posted

No, The U.S. Is Not A Net Exporter Of Crude Oil

Last week, Bloomberg created quite a stir with this story: The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years. This statement is both true and misleading, it depends on how [...]