Mid-Week Review – October 2, 2019

Oil prices drop after reports Saudi Aramco has restored output capacity to pre-attack levels Oil futures sank on Monday, sending U.S. prices to their lowest settlement in a month, after reports that Saudi Aramco has fully restored production capacity that was lost to the crippling attacks on Saudi oil facilities earlier in September.  Click here […]

U.S. Oil Stocks Jump, Force Prices Down

Oil prices collapsed on June 7th. They had been on a downward path since the close of the OPEC-NOPEC meeting on May 25th, but news of a potentially large drawdown in crude stocks appeared to arrest the downward trend on Tuesday, June 6th. The American Petroleum Institute (API) reported that crude inventories dropped by 4.6 […]

Major U.S. tight oil-producing states expected to drive production gains through 2018

In EIA’s January Short-Term Energy Outlook, U.S. crude oil production is forecast to increase from an average of 8.9 million barrels per day (b/d) in 2016 to an average of 9.3 million b/d in 2018, primarily as a result of gains in the major U.S. tight oil-producing states: Texas, North Dakota, Oklahoma, and New Mexico. […]

Weekly Price Review

By Dr. Nancy Yamaguchi Oil prices opened the week at $52.55 on Tuesday following Martin Luther King Day in Monday. Prices were flat on Tuesday, but they slid to around $51/b on Wednesday. Prices on Thursday and Friday crept back into the neighborhood of $51.50. Today’s crude and product prices are continuing to increase, but […]

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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