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Tag Archives: Focus on Fracking

Latest EIA US Oil Supply and Disposition Data

Total supplies of oil & products at 7 1/2 year low even after largest 4 week build of gasoline stocks in 32 years SPR inventories are at a new 19 year low; gasoline inventories are up most in any 4 week period since Jan 1990 as gasoline demand, ex worst Covid drops, are at a 10 year low; imports of gasoline are at a 87 week low; total inventories of oil & all products made from it are at 7 1/2 year low The Latest US Oil Supply and...

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OPEC’s January Oil Market Report

RJS: Focus on Fracking December global oil shortage was 1,240,000 barrels per day as OPEC output was 625,000 barrels per day short of quota; global oil shortage for 2021 was 1,446,300 barrels of oil per day. Tuesday of this week saw the release of OPEC’s January Oil Market Report, which includes OPEC & global oil data for December, and hence it gives us a picture of the global oil supply & demand situation for the fifth month after...

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Oil Prices 7 Year High; Draw from Natural Gas Supply Largest Since Winter Storm

RJS, Focus on Fracking Oil prices rose for a fifth consecutive week and hit a 7 year high in the process, on supply disruptions in the Middle East and on rising tensions between NATO and Russia…after rising 6.3% to $83.82 per barrel last week on a softening of Fed rhetoric and on a production shortfall by OPEC+, the contract price for US light sweet crude for February delivery opened 50 cents higher on Tuesday after the MLK holiday as rising...

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Oil and SPR Reports, Gasoline Imports and Exports, and Gasoline Inventories

US oil inventories near 10 year low as Strategic Petroleum Reserve falls to yet another 19 year low; gasoline imports at a 53 week low; gasoline exports at an 82 week low; 3 week gasoline inventory increase is largest on record, RJS, Focusing on Fracking The Latest US Oil Supply and Disposition Data from the EIA US oil data from the US Energy Information Administration for the week ending January 14th indicated that due to a big jump in our oil...

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Petroleum Reserve at a new 19 Yr Low, Commercial Oil Inv. at 45 month low, total US Oil lowest since January 2012

Commenter and Blogger RJS, Focus on Fracking, Strategic Petroleum Reserve at a new 19 year low; commercial crude inventories fall to 45 month low, total oil supplies lowest since January 20th 2012; implied gasoline demand at 11 month low The Latest US Oil Supply and Disposition Data from the EIA US oil data from the US Energy Information Administration for the week ending January 7th indicated that despite a big drop in our oil exports, a...

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Oil Prices Up 55% and Natural Gas Prices Up 47%

Oil prices rose 55% in 2021, the most since 2009, while natural gas prices rose 47%, the most since 2016, Focus on Fracking, RJS Oil prices rose for a second week after the initial Omicron selloff, as oil traders and most everyone else have become convinced that Omicron poses little risk to oil demand . . . after rising 4.3% to $73.79 a barrel last week on trouble in Libya, a big drawdown on US crude supplies, and on a refinery explosion in...

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“Multi-year lows for total crude supply and oil & products supply”

Commenter and Blogger RJS, Perspective: I (RJS) suspect some of the inventory pullback has to do with tax strategies, but we’ve had all this sitting near multiyear lows going in, so they’re worth noting. I checked googled, & I don’t see anyone else reporting these lows, even at sites like oilprice.com. They’re probably on deadlines to get their articles done, and don’t have time to check the spreadsheets. Strategic Petroleum: Reserve at...

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Oil Supplies at 83 Month Low, Demand at Record High

Total supplies at an 83 month low; total demand at a record high; distillates demand at 18+ year high; global shortage at 1,210,000 bpd, Focus On Fracking, RJS Strategic Petroleum Reserve approaching a 19 year low; oil + products supplies drop to an 83 month low; total oil product demand sets a record high, led by distillates demand at 18+ year high; global oil shortage at 1,210,000 barrels per day in November as OPEC output falls 563,000 barrels...

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Oil Rebounds and SPR at another 18 – 1/2 year Low

Oil rebounds on Omicron optimism; SPR at another 18 1/2 year low as sales to Asian refiners begin, Focus of Fracking, RJS Not really much news this week; gasoline & distillate inventories continue to rebound from the lows, no big moves on prices or much else; the headline is almost contrived . . . the “sales to Asian refiners” came from an oil blogger who said we sold SPR oil to China and India. That information hasn’t been released...

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SPR at an 18-1/2 Year Low, Gasoline Supplies Up

Blogger RJS, Focus on Fracking, Strategic Petroleum Reserve is at an 18 1/2 Year Low; Gasoline Supplies Rose by Most in 22 Weeks on a 22 Week Low in Demand The Latest US Oil Supply and Disposition Data from the EIA Weekly U.S. Ending Stocks excluding SPR of Crude Oil (Thousand Barrels) (eia.gov) US oil data from the US Energy Information Administration for the week ending November 26th showed that after a switch of “unaccounted for crude...

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