• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 3 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 9 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 9 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 5 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 3 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 6 hours NordStream2
  • 4 days Modest drop in oil price: SPRs vs US crude inventory build
  • 4 days 2019 - Attack on Saudi Oil Facilities.
  • 4 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 days Ukrainian Maidan after 8 years
  • 6 days Peak oil - demand vs production
Editorial Dept

Editorial Dept

More Info

Expect More Bullish News For Oil This Month

Last month we wrote a series of notes arguing that risks were either skewed sideways or slightly higher for oil primarily based on the ideas that the US central bank was turning dovish and OPEC+ cuts would tighten physical supply/demand balances. These themes are still the most important sources of risk in the market and we’ve seen key news updates on both items over the last week.

On the central bank front, the Fed’s statement from its recent FOMC meeting took another step in the dovish direction remarking the committee would remain patient in their pursuit of higher interest rates. The overall language of the note took a more accommodative look at employment and inflation trends and seemed increasingly in tune with the idea that the economy needs to be able to run further before policymakers apply the brakes of higher rates. The bankers also noted that they would take slow approach in deciding on whether to continue shrinking their balance sheet. (Our assessment is that Fed balance sheet tightening was a critical driver of stock market and oil prices weakness in 4Q’18.) US Fed officials could ultimately play as important a role as OPEC in shaping oil prices in 2019 and for now they’re clearing the path to higher prices. This could become especially true if US government shutdown, US/China trade or Brexit contagions rise as the central bank could swing even more dovish and work to push asset prices higher.

On the OPEC+ side, January production…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News