Energy Reports

Weekly Energy Update (April 9, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Crude oil inventories rose 15.2 mb compared to the forecast rise of 9.0 mb. In the details, U.S. crude oil production fell 0.6 mbpd to 12.4 mbpd.  Exports fell 0.3 mbpd, while imports declined 0.2 mbpd.  Refining activity fell 6.7%, well more than the 1.8% decline… Read More »

Weekly Energy Update (April 2, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Crude oil inventories rose 13.0 mb compared to the forecast rise of 3.5 mb. In the details, U.S. crude oil production was unchanged at 13.0 mbpd.  Exports fell 0.7 mbpd, while imports declined 0.1 mbpd.  Refining activity fell 5.0%, well more than the 0.1% decline forecast. … Read More »

Weekly Energy Update (March 26, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Crude oil inventories rose 1.6 mb compared to the forecast rise of 3.0 mb. In the details, U.S. crude oil production fell 0.1 mbpd to 13.0 mbpd.  Exports fell 0.5 mbpd, while imports declined 0.4 mbpd.  The inventory build was less than forecast due to a… Read More »

Weekly Energy Update (March 19, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Crude oil inventories rose 2.0 mb compared to the forecast rise of 3.5 mb. In the details, U.S. crude oil production rose 0.1 mbpd to 13.1 mbpd.  Exports rose 1.0 mbpd, while imports rose 0.1 mbpd.  The inventory build was less than forecast due to the… Read More »

Weekly Energy Update (March 12, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Crude oil inventories rose 7.7 mb compared to the forecast rise of 1.7 mb. In the details, U.S. crude oil production fell 0.1 mbpd to 13.0 mbpd.  Exports fell 0.7 mbpd, while imports rose 0.2 mbpd.  The inventory build was more than forecast due to falling… Read More »

Weekly Energy Update (March 5, 2020)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA Crude oil inventories rose 0.8 mb compared to the forecast rise of 3.0 mb. In the details, U.S. crude oil production rose 0.1 mbpd to a new record of 13.1 mbpd.  Exports rose 0.5 mbpd, while imports were unchanged.  The inventory build was less than forecast… Read More »

Quarterly Energy Comment (December 17, 2019)

by Bill O’Grady The Oil Market Since June, oil prices have held mostly within a range of $50 to $60 per barrel. After a sharp decline in prices from late May into early June, due in part to a contra-seasonal build in inventories, inventories fell and oil prices rebounded.  Rising tensions with Iran added to… Read More »

Quarterly Energy Comment (August 27, 2019)

by Bill O’Grady The Oil Market Since June, oil prices have held within a range of $50 to $60 per barrel. After a sharp decline in prices from late May into early June, due in part to a contra-seasonal build in inventories, inventories fell and oil prices rebounded.  Rising tensions with Iran added to the… Read More »

Quarterly Energy Comment (March 21, 2019)

by Bill O’Grady The Market Oil prices have been volatile over the past few months. In October, OPEC producers increased output in anticipation of U.S. sanctions on Iran.  However, the Trump administration granted more waivers for Iranian exports than anticipated, leading to more oil supply.  As the above chart shows, prices plunged, falling from $78… Read More »

Quarterly Energy Comment (September 7, 2018)

by Bill O’Grady The Market Since mid-Q1, oil prices have ranged from a low of around $64 to a high of $71 per barrel. Prices remain elevated, supported by OPEC production discipline, production problems in several OPEC nations, fears of new Iran sanctions and stable global oil demand. Prices and Inventories Inventory levels remain elevated… Read More »

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