Market Commentary
Mexico Holds Up OPEC+ Production Cut Agreement
April 10, 2020
Just a reminder that the energy markets are CLOSED today for Good Friday and there are no forward contracts available. Well all day yesterday everyone heard about the OPEC+ cut. 10 million, 15 million maybe even 20 million all the headlines read. At the very last minute late in the […]
Market Eyes OPEC+ Meeting for Developments
April 9, 2020
The weekly jobless numbers will come out this morning and this has become a very watch indicator in the last few weeks and the number of people filing for unemployment has skyrocketed. The estimates for today’s claims number is again in the multi millions and will give an indication how […]
EIA Slashes Short-Term Oil Demand Forecast
April 8, 2020
The API inventory report had some big numbers as crude appears to finally be getting stored at a fast pace. Crude stocks as reported by the API were up 11.9 million barrels and the crude oil stocks at Cushing, Ok were up 6.8 million barrels. Gasoline stocks were up 9.4 […]
World Oil Leaders Consider Cuts
April 7, 2020
There are a lot of headline and reports about OPEC members and other talking a good story about working together to stabilize prices. Saudi Arabia and Russia are both saying they will not participate unless the US does as well. The US’s part in this is tricky and it will […]
Tension Among Oil Producers Mount as Production Cuts Are Discussed
April 6, 2020
The OPEC + meeting that was supposed to take place today has been pushed back and expected to take place on Thursday. There are many headlines and comments about who is to blame and why, which just tells us all of the complexity of this situation. The pressure surrounding all […]
Will OPEC+ Cut Production?
April 3, 2020
The energy markets have been extremely volatile over the last couple days. Yesterday when the tweet from President Trump went out that Saudi Arabia and Russia were going to work to limit production by 10 million barrels or more crude oil rallied over 40% in just a few minutes. The […]
Southwest Airlines is Canceling 40% of its Flights
April 1, 2020
The inventory report put out by the private firm API yesterday late afternoon called crude oil stocks up 10.5 million barrels as refineries cut run rates as demand has plummeted. Gasoline stock were up 6.1 million barrels and distillate stocks were down 4.5 million barrels. Average estimated for today’s DOE […]