Monthly Archives: April 2017

based on recommendations from an OPEC panel meeting last Friday and statements from the major producers, it’s now broadly accepted that OPEC will be extending their production cuts after June, although that won’t be made official till they meet on … Continue reading →

the key report of this past week was the advance estimate of 1st quarter GDP from the Bureau of Economic Analysis, which was released on Friday; other widely watched releases included the March advance report on durable goods and the … Continue reading →

rig count summary: refinery throughput: gasoline inventories: 1st quarter GDP:

oil prices tumbled this week, giving up all the gains they’d seen since Trump’s strike on Syria and then some, as fears of further Mideast disruptions subsided, while US drilling productivity advanced again and traders became concerned that OPEC could … Continue reading →

major monthly reports released this week included the March report on Industrial Production and Capacity Utilization from the Fed, the March report on New Residential Construction from the Census Bureau, and the Existing Home Sales Report for March from the … Continue reading →

rig count summary

oil prices again tracked higher this week, as saber rattling about Syria had traders weighing geopolitical risks in the Middle East in addition to the usual oil supply issues of OPEC’s production cuts and increasing US oil production…after closing last … Continue reading →

regular monthly reports released this week included the the March Consumer Price Index, the March Producer Price Index, and the March Import-Export Price Index from the Bureau of Labor Statistics, and the Retail Sales report for March and the Business … Continue reading →

refinery throughput: rig count summary: OPEC production official data: OPEC production as reported: OPEC production graph: March 2017 global oil supply: global oil demand estimates: March retail sales:

after falling 36 cents to $50.23 a barrel on Monday, oil were prices were higher daily for the rest of the week, and ended the week up more than 3%, as the US missile strike on Syria boosted prices on … Continue reading →