Weekly Energy Update

Weekly Energy Update (October 15, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF [N.B. Today’s report was delayed one day due to the Columbus/Indigenous Day holiday.] Prices have moved above $80 per barrel. (Source: Barchart.com) Crude oil inventories rose 6.1 mb compared to the 1.1 build forecast.  The SPR declined 0.8 mb, meaning the net draw was… Read More »

Weekly Energy Update (October 7, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices are approaching $80 per barrel. (Source: Barchart.com) Crude oil inventories rose 2.3 mb compared to the 1.0 build forecast.  The SPR declined 0.9 mb, meaning the net draw was 1.4 mb. In the details, U.S. crude oil production rose 0.2 mbpd to 11.3… Read More »

Weekly Energy Update (September 30, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices have rallied to above $75 per barrel. (Source: Barchart.com) Crude oil inventories unexpectedly rose 4.6 mb compared to the 2.5 mb draw forecast.  The SPR declined 0.9 mb, meaning the net draw was 3.8 mb. In the details, U.S. crude oil production rose… Read More »

Weekly Energy Update (September 23, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices continue to hold above $70 per barrel. (Source: Barchart.com) Crude oil inventories fell 3.5 mb compared to the 2.8 mb draw forecast.  The SPR declined 1.2 mb, meaning the net draw was 4.7 mb. In the details, U.S. crude oil production rose 0.5… Read More »

Weekly Energy Update (September 16, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices moved above $70 per barrel. (Source: Barchart.com) Crude oil inventories fell 6.4 mb compared to the 3.6 mb draw forecast.  The SPR declined 0.5 mb, meaning the net draw was 6.9 mb. In the details, U.S. crude oil production rose 0.1 mbpd to… Read More »

Weekly Energy Update (September 10, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices continued to consolidate in the high $60s. (Source: Barchart.com) Crude oil inventories fell 1.5 mb compared to the 6.0 mb draw forecast.  Analysts (including us) were clearly expecting Ida to bring a large draw.  However, the drop in exports and the slide in… Read More »

Weekly Energy Update (September 2, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After reaching $62 per barrel support, prices have snapped back and are consolidating around $68 per barrel. (Source: Barchart.com) Crude oil inventories fell 7.2 mb compared to the 2.5 mb draw forecast.  The SPR was unchanged this week. In the details, U.S. crude oil… Read More »

Weekly Energy Update (August 26, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After reaching $62 per barrel support, prices have snapped back. (Source: Barchart.com) Crude oil inventories fell 3.0 mb compared to the 2.0 mb draw forecast.  The SPR was unchanged this week. In the details, U.S. crude oil production was steady at 11.4 mbpd.  Exports… Read More »

Weekly Energy Update (August 19, 2021)

by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices remain under pressure as concerns over the Delta virus and seasonal factors press prices lower. (Source: Barchart.com) Crude oil inventories fell 3.2 mb compared to the 1.5 mb draw forecast.  The SPR was unchanged this week. In the details, U.S. crude oil… Read More »

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