• 3 minutes Biden Seeks $2 Trillion Clean Energy And Infrastructure Spending Boost
  • 5 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 8 minutes Gazprom fails to exempt Nord Stream-2 from EU market rules
  • 9 mins Trumpist lies about coronavirus too bad for Facebook - BANNED!
  • 1 day The Truth about Chinese and Indian Engineering
  • 56 mins China's impending economic meltdown
  • 1 hour Why Oil could hit $100
  • 16 hours The World is Facing a Solar Panel Waste Problem
  • 2 days The Core Issue Of US Chaos..Finally disclosed
  • 8 hours Pompeo upsets China; oil & gas prices to fall
  • 12 mins Renewables Overtake Coal, But Lag Far Behind Oil And Natural Gas
  • 5 hours Open letter from Politico about US-russian relations
  • 4 hours Brent above $45. Holding breath for $50??
  • 1 day Sell Natural Gas Benefits to Grow the Market!
  • 2 days Rational analysis of CV19 from Harvard Medical School
  • 1 day Trump Suggests Delaying Election Amid Fraud Claims
  • 2 days Russia Trying To Steal COVID-19 Vaccine Data, Say UK, U.S. and Canada

U.S. Oil Exports Spike To Record Levels

Friday October 6, 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. OPEC compliance on the upswing

(Click to enlarge)

- OPEC has struggled to get a couple of its members to fully comply with the promised output reductions, with Iraq as a main outlier. For months Saudi Arabia cut deeper than required to make up for rising production in Libya and Nigeria.
- But compliance hit its highest point to date in August. Iraq lowered its output and production growth stalled in Libya and Nigeria.
- Even better, the non-OPEC coalition boosted its compliance as well, with Russia cutting more than required. Non-OPEC compliance exceeded 100 percent, and exceeded that of OPEC for the first time.
- The improved compliance coincided with a tightening of the oil market, helping to push up oil prices (briefly) to their highest point in two years.
- New data from Reuters suggests the high level of compliance may have slipped in September, with OPEC adding 50,000 bpd from the prior month.

2. Trump wants to prop up coal and nuclear

(Click to enlarge)

- The U.S. DOE is proposing the most radical change to electricity market governing in a long time, seeking to boost the returns for coal and nuclear…




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