• 3 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 6 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 11 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 14 minutes Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 2 hours Shale Oil Fiasco
  • 19 hours Everything you think you know about economics is WRONG!
  • 1 day Global Debt Worries. How Will This End?
  • 16 hours Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial support . . . Support "Carried Interest"
  • 33 mins Natural Gas
  • 3 hours USA v China. Which is 'best'?
  • 3 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 1 day Judiciary impeachment: Congressman says Sean Misko, Abigail Grace and unnamed 3rd (Ciaramella) need to testify.
  • 2 days My interview on PDVSA Petrocaribe and corruption
  • 2 hours Aramco Raises $25.6B in World's Biggest IPO
  • 5 hours Winter Storms Hitting Continental US
  • 2 days Quotes from the Widowmaker
  • 1 day Tesla Launches Faster Third Generation Supercharger

U.S. Oil Exports Spike To Record Levels

offshore rig

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…




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