Currently viewing the tag: "The Energy Report"

Oil prices are on the rise as traders are starting to see signs of production destruction. What is production destruction? It is the opposite of demand destruction. When prices go too high we see demand destruction or demand fall. When prices go too low we see cut backs in spending and investment that will call […]

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All of a sudden it looks like global growth is trailing off raising more concerns about oil demand. Yesterday weak data out of China and warnings for the International Monetary fund about Asian economic growth, hit oil and industrial metals. Weak U.S. factory orders also raised worries once again that the U.S. economy may still […]

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Oil prices are falling on renewed fewer about Asian growth and talk of rising OPEC oil supply. Oil prices started to weaken after the China Caixin manufacturing PMI fell to 49.4 last month from then March reading of 49. That was the 14th consecutive month of contraction and it also fell short of market expectations. […]

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Oil Swell. The Energy Report 5/2/16

On May 2, 2016 - 9:26 AM By

Crude oil ended the month of April with the strongest monthly gain in 7 years, adding 22% to the price. The low price caused “production destruction” and strong demand put the market on a trajectory of market balance. A study by Wood Mackenzie expects to see $91 billion in cap ex cuts across 121 upstream […]

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Rigs and Rain. The Energy Report 4/29/16

On April 29, 2016 - 9:28 AM By

Oil prices continue to rise as the market prepares for another drop in the U.S. rig count and floods in the Gulf of Mexico could slow U.S. oil imports. This comes as Exxon Mobil and Chevron report earnings and no doubt more capital spending cuts in a historic retrenchment in the oil complex. Gulfport, Mississippi […]

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Oil Rush. The Energy Report 4/28/16

On April 28, 2016 - 7:25 AM By

Oil prices surged again as U.S. oil production fell for the seventh week in a row and global central bankers seem a little more upbeat. With the Federal Reserve changing the wording removing “risks” from their statement and Japan’s central bank holding fire, the demand expectations have changed dramatically from just a few months ago […]

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Exxon Mobil saw its credit rating cut by S&P for the first time since the Great Depression and it is another sign that oil prices have bottomed. Exxon Mobil Corp. lost its AAA rating and saw it lowered to AA+. Even the biggest of “big oil” cannot escape the fallout from the global oil price […]

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Balancing Act. The Energy Report 4/26/16

On April 26, 2016 - 7:59 AM By

Oil prices are trying to stabilize as traders and oil companies try to predict when oil production will find equilibrium with demand. Here there is a wide degree of different thinking on this issue but I predict it will happen much sooner than people think. We’re faced with massive cap x cuts and plunging rig […]

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Big Oil Bust. The Energy Report 4/25/16

On April 25, 2016 - 8:16 AM By

Big oil is not as big as it used to be. Big oil gets ready to report earnings later this week and it’s looking like it’ll be ugly. The historic first quarter energy bust will cut revenues and profits as it forced big oil to slash exploration budgets and proven reserves. The backlash from investors […]

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Spring is busting out all over and so is gasoline demand. Low gas prices are causing a buying frenzy at the pump as gasoline demand in the month of March hit an all-time record high. According to the American Petroleum Institute (API) the lowest average price for regular unleaded gasoline in 12 years has Americans […]

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Oil production and oil demand are like two ships that pass in the night. What I mean by that is the trend for oil production is falling and demand is rising. The cut backs in capital spending is creating what I call “production destruction” on an epic scale. The oil market wiped out early losses […]

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President Obama is landing in Saudi Arabia to try to smooth over sour relations with America’s long term ally, Saudi Arabia. While the crude oil market is selling off overnight on renewed concerns about China’s economy and the ending of the Kuwaiti oil strike, this meeting today may have more of a long term impact […]

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