Weekly Snapshot

Rex Tillerson’s Firing Adds Risk Premium to Market

Yesterday Trump announced Rex Tillerson, Secretary of State and former Exxon-Mobil CEO, was being replaced by Mike Pompeo, Director of the CIA. The decision (which Tillerson reportedly learned about via Twitter) adds much uncertainty to oil markets, as well as to international politics and economics. Pompeo supports sanctions on Venezuela and opposes the Iran Nuclear Deal, two policies that could lead to significant oil price increases. Click Here to read more from CNBC.


Venezuela’s Oil Production Declines

Venezuela has been a major source of volatility for oil markets – their economic woes have caused weak investments in oil fields, resulting in declining production. Declines are likely to continue for a number of reasons – rig counts have fallen, workers aren’t being paid, and capital expenditures have fallen. According to the EIA, production losses are expected to continue through the end of 2019. Click Here to read more from the EIA.


Driver Compensation Trends

Struggling with driver turnover? So is the rest of the industry. But a study of thousands of driver surveys reveals a few companies are getting it right. What does it take to motivate and retain drivers? Click Here to read more from Fuels Market News.


Glut or Deficit?

With so many different forecasts and variables pointing to supply gluts or deficits in the future, which will it be? Analysts tend to agree that over the medium-to-long term, supplies will not keep up with demand due to a shortage in investment in new drilling. However, in the short-term, both are in balance currently. The most likely scenario for short-term imbalance is a supply glut if economic growth sputters, which is possible given a potential trade war if Trump continues to impose tariffs on other countries. Click Here to read more from OilPrice.com.

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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Give Us a Call Today

We are happy to discuss your business challenges over the phone and answer any questions.


Send Us an Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Mansfield Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote Today

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote