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$23.76
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At Close: Jun 03, 2026

Futures Are Hard - Hurricane Edition

10:17am, Saturday, 29'th Aug 2020
While a lot of us were left scratching our heads on how futures markets could see crude oil go negative back in March, hurricanes give a great example of how futures markets work with different delive

Hurricane Laura Lifts Oil Prices

08:27am, Wednesday, 26'th Aug 2020
The MSCI Asia Pacific Index had reached seven-month highs on Tuesday, but Japan, China, and Australian stocks saw modest profit-taking today.
The two international oil benchmarks ended the week on contrasting notes, as Brent edged lower after two weeks of gains to $44.35 per barrel, while WTI advanced to $42.34 per barrel.
Oil prices have almost been stable in August so far. But the question is, where will the markets move from here? There has been a misplaced optimism in play that forced prices to move up; however, upo

Non-OPEC Oil Production Collapses In April

05:17pm, Saturday, 22'nd Aug 2020
Non-OPEC production dropped slowly from a high of 52,646 kb/d in December 2019 to 52,255 kb/d in March 2020.
Crude oil prices were lower early in the trading day on Wednesday after estimates showed a mixed bag for inventories of petroleum products in the United States.
Crude oil production in Russia has approached 9.8 million b/d in early August from less than 9.4 million b/d in July.

A Contrarian View On U.S. Oil Production

04:39pm, Monday, 17'th Aug 2020
Our contrarian view on US oil production is that the rebound observed in July and August so far is way higher than what the consensus is estimating.
Crude oil prices remained stable for the third month in a row. Brent advanced to $44.80 per barrel by the end of the week as WTI also gained to $42.01 per barrel.

OPEC July 2020 Production Charts

12:05pm, Sunday, 16'th Aug 2020
OPEC crude only was up almost one million barrels per day in July. The lion's share of the increase in OPEC production came from Saudi Arabia.
Market consensus back in March/April thought global inventories would hit tanktop because global supply and demand on an excel spreadsheet said so.
Brent crude nudged up to $43.40 per barrel after another steady week. The US WTI oil benchmark took a different direction to Brent, falling to $40.27 per barrel.

U.S. May Production Plunges 2Mb/d

11:42am, Sunday, 02'nd Aug 2020
May production drop is just short of 2 Mb/d by 11 kb/d in the US. World oil production in April increased by 168 kb/d to 82,484 kb/d.
EVs are a small portion of the vehicle fleet today, and their impact on oil demand will likely be modest for the next few years.

Oil Update - July 2020

07:26am, Friday, 31'st Jul 2020
For August, I am extending my July forecast for West Texas Intermediate of $35 to $45 per barrel. The question is whether people will adopt measures to help reduce the spread of the virus - such as so
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