• 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 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour e-cars not selling
  • 5 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 31 mins Cheaper prices due to renewables - forget it
Editorial Dept

Editorial Dept

More Info

Oil Markets Are Rebalancing At Last

Friday September 15, 2017

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. Whiplash for oil investors

(Click to enlarge)

- As refineries started to go offline amid the historic hurricane that hit Texas at the end of August, hedge funds and other money managers scrambled to short WTI, betting that a huge disruption in refining capacity would lead to a buildup in crude supplies.
- They were right: some 4 mb/d of refining capacity was temporarily idled, although that figure is down to less than 2 mb/d at this point.
- In fact, refineries staged a comeback quicker than expected, leading hedge funds and other major investors to rapidly unwind those short bets, swapping them out for long bets, even as the destruction of Harvey was still being tallied.
- The positioning corresponded with a brief decline and then rebound in WTI prices.
- “You can afford, as a speculative investor, to get a little bit more bullish,” Tamar Essner, an energy analyst at Nasdaq Inc., told Bloomberg. “The storm certainly was bearish for WTI, but not for the long term, so why not make a quick buck?”

2. China to phase out internal combustion engine

(Click to enlarge)

- The world’s…




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