• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 4 hours New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 1 hour Permafrost Melting Will Cost Us $70 Trillion
  • 59 mins Occidental Offers To Buy Anadarko In $57 Billion Deal, Topping Chevron
  • 1 hour Russia To Start Deliveries Of S-400 To Turkey In July
  • 3 hours UNCONFIRMED : US airstrikes target 32 oil tankers near Syria’s Deir al-Zor
  • 7 hours Nothing Better than Li-Ion on the Horizon
  • 1 hour Facebook Analysts Expect Earnings Will Reinforce Rebound
  • 18 hours Countries with the most oil and where they're selling it
  • 5 hours ..
  • 6 hours How many drilling sites are left in the Permian?
  • 18 hours Section 232 Uranium
  • 22 hours China To Promote Using Wind Energy To Power Heating

Breaking News:

Ford Invests $500M In Tesla Rival

Oil Stabilizes As OPEC Implements Cuts

Gorgon LNG

The oil rally of the past two weeks continues, even though in a more tempered manner, on the back of U.S. commercial crude supplies shrinking, Russia starting to implement its OPEC/OPEC+ commitments and China promising to do whatever it takes to avert an economic slowdown.



Beijing duly demonstrated the seriousness of its intentions – following weak December trade data, the Chinese National Bank has injected a record amount of cash into the economy via reverse repo operations, further backing it up with a robust PR drive. As a consequence, the global benchmark Brent traded between 60 and 60.5 USD per barrel on Wednesday afternoon, whilst WTI hovered around 51.5-52 USD per barrel.

1. US Stocks To Stay Around 440 MMbbls

• Having fallen by a modest 1.7 MMbbl in the week to 439.7 MMbbl ending January 04, U.S. commercial crude stocks, as per last week, are expected to experience an insignificant decline or stagnation.

• In doing so, stocks have been increasing for seven consecutive weeks in Cushing, Oklahoma, whilst Gulf Coast stocks have fallen by some 5 MMbbl month-on-month.



• Gasoline stocks are expected to continue their build for the eighth consecutive week, with a further 2.5-3 MMbbl stock build expected in the week ending January 11.



• A further uptake in distillate stocks is also assumed, albeit at a much smaller pace than the 10+ MMbbl week-on-week increases in the last…




Oilprice - The No. 1 Source for Oil & Energy News