Monthly Archives: April 2017

US oil refining at an all time high, topping previous year’s summertime records…

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

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1st Quarter GDP, March durable goods and new home sales

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

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April 29th graphics

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

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oil prices drop 7.4%, oil rigs double from a year ago, oil production at a 20 month high, uncompleted wells increase 2%

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

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March industrial production, new home construction, and existing home sales

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

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April 22 table

rig count summary

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April OPEC report shows global oil glut still growing; US oil refining at a seasonal record

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

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