• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 min GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days Solving The Space Problem For America’s Solar Industry
  • 30 mins Investment in renewables tanking
  • 7 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 12 hours If hydrogen is the answer, you're asking the wrong question
  • 20 hours "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 1 day How Far Have We Really Gotten With Alternative Energy
Editorial Dept

Editorial Dept

More Info

How Strong Is Bullish Sentiment?

Friday September 22, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Inventories decline in second quarter, but next steps uncertain

(Click to enlarge)

- Global oil inventories declined at a rate of 0.9 million barrels per day in the second quarter, a steep drop after several years of increases.
- Refined product stocks also saw a dramatic decline, evidence that the oil market is moving towards rebalance.
- But the declines could be short-lived – U.S. shale production is rising and seasonal demand is waning.
- Also, as Bloomberg Gadfly notes, OPEC’s data is often unreliable – OPEC producers could be supplying the market with much more oil than they report. Falling production figures are misleading because OPEC’s exports have remained at a much higher level.
- The situation gets worse next year as shale output is expected to continue to grow and OPEC grapples with how to handle its extension.
- The sharp decline in inventories in the second quarter could be a one-off.

2. Frac sand miners hit by sand glut

(Click to enlarge)

- There is a land rush going on in the Permian Basin – for frac sand.
- The WSJ reported that a long list of sand…




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