• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 14 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 4 days "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 7 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 7 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 8 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 8 days Demonising fossil fuels has caused major grid problem in Australia

Breaking News:

Oil Should Stay In Triple Digits: Analyst

Editorial Dept

Editorial Dept

More Info

Will OPEC Meet Expectations?

Friday November 24, 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. U.S. gasoline demand hits seasonal record

(Click to enlarge)

- Ahead of the Thanksgiving holiday, U.S. drivers filled up their tanks at the fastest rate in history for this time of year.
- Gasoline demand hit 9.6 million barrels per day in the week ending on November 17, a record high.
- Gasoline stocks are down to 210 million barrels, at the lower end of the five-year average range for this time of year.
- Refining runs are elevated, and gasoline production soared for the week. The robust figures could be a one-off anomaly due to the holidays, but demand looks strong, which should help drain crude inventories and boost prices.

2. Oil market in danger of slide if OPEC doesn’t deliver

(Click to enlarge)

- OPEC and Russia have raised expectations about their actions at the upcoming meeting to such a degree that anything short of an extension of the production limits through the end of 2018 will leave the oil market deeply disappointed.
- Adding to the danger is the fact that hedge funds and other money managers have staked out an incredible number of bullish bets on crude, exposing the market to downside…




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