Monthly Archives: March 2017

US rig count at a 17 month high, oil supplies at another record, et al

US oil prices ended the week 81 cents lower than last week’s final quote, but price quotes for Friday of this week really shouldn’t be compared to those of last week, because each references a different contract month…i’ll explain that … Continue reading

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February’s durable goods, new home sales, existiing home sales

widely watched reports that were released this past week were the advance report on durable goods for February and the February report on new home sales, both from the Census bureau, and the Existing Home Sales Report for February from … Continue reading

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graphics for March 25th

population weighted heating demand: rig count summary rig count history:

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March OPEC report shows global oil glut still building; US horizontal drilling doubles, but uncompleted wells rise…

oil prices continued falling early this past week, but rallied on Wednesday after the EIA’s report of the first US oil inventory drawdown in 10 weeks, and ultimately ended the week 29 cents higher at $48.78 a barrel…the early weakness … Continue reading

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February consumer and producer prices, retail sales, industrial production, & new homes sales: January business inventories and JOLTS

major monthly reports this week included the Retail Sales report for February and Business Sales and Inventories for January from the Census Bureau, the February Producer Price Index and the February Consumer Price Index from the Bureau of Labor Statistics, … Continue reading

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March 18th tables & graphics

retail sales: rig count summary: OPEC supply via secondary sources: OPEC supply as reported by members: OPEC output history: global and OPEC oil output: global oil demand:

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oil price breaks as crude supplies hit another record, OPEC drilling increases again…

oil prices finally broke out of their narrow range this week, with US prices ending the week 9.1% lower than a week ago, as they fell every day this week, with the biggest drop precipitated by reports of a much … Continue reading

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