Energy Reports
Weekly Energy Update (August 26, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After reaching $62 per barrel support, prices have snapped back. (Source: Barchart.com) Crude oil inventories fell 3.0 mb compared to the 2.0 mb draw forecast. The SPR was unchanged this week. In the details, U.S. crude oil production was steady at 11.4 mbpd. Exports… Read More »
Weekly Energy Update (August 19, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices remain under pressure as concerns over the Delta virus and seasonal factors press prices lower. (Source: Barchart.com) Crude oil inventories fell 3.2 mb compared to the 1.5 mb draw forecast. The SPR was unchanged this week. In the details, U.S. crude oil… Read More »
Weekly Energy Update (August 12, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices remain depressed, with $67 acting as support. Crude oil inventories unexpectedly fell 0.4 mb compared to the 2.0 mb draw forecast. The SPR was unchanged this week. In the details, U.S. crude oil production rose 0.1 mbpd to 11.3 mbpd. Exports rose… Read More »
Weekly Energy Update (August 5, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After last week’s recovery, selling has resumed; this week’s data and fears of weaker demand due to COVID-19 are pressuring prices. (Source: Barchart.com) Crude oil inventories unexpectedly rose 3.6 mb compared to the 3.2 mb draw forecast. The SPR was unchanged this week. In… Read More »
Weekly Energy Update (July 29, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After last week’s selling, prices have recovered back above $70 per barrel. (Source: Barchart.com) Crude oil inventories fell 4.1 mb compared to the 2.1 mb draw forecast. The SPR was unchanged this week. In the details, U.S. crude oil production fell 0.2 mbpd at… Read More »
Weekly Energy Update (July 22, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF The OPEC+ agreement led to a deep selloff in oil prices, but the decline has attracted new buyers. (Source: Barchart.com) Crude oil inventories unexpectedly rose 2.1 mb compared to the 4.5 mb draw forecast. The SPR was unchanged this week. In the details, U.S.… Read More »
Weekly Energy Update (July 15, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Prices appear to be consolidating between $72 to $76 per barrel. (Source: Barchart.com) Crude oil inventories fell 7.9 mb compared to the 4.4 mb draw expected. The SPR was unchanged this week. In the details, U.S. crude oil production rose 0.1 mbpd to 11.4… Read More »
Weekly Energy Update (July 9, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF After rising above $76 per barrel on news of the OPEC+ impasse (see below) prices have corrected modestly. (Source: Barchart.com) Crude oil inventories fell 6.9 mb compared to the 4.0 mb draw expected. The SPR fell 1.2 mb, meaning without the addition from the… Read More »
Weekly Energy Update (July 1, 2021)
by Bill O’Grady, Thomas Wash, and Patrick Fearon-Hernandez, CFA | PDF Oil prices are moving steadily higher although momentum is starting to slow. (Source: Barchart.com) Crude oil inventories fell 6.7 mb compared to the 4.0 mb draw expected. The SPR fell 1.4 mb, meaning without the addition from the reserve, commercial inventories would have declined… Read More »