Monthly Archives: May 2017

well, the OPEC meeting that everyone had been waiting for came and went this week, and as it turned out, it was just a big non event….OPEC agreed to maintain their production cuts at the same level they’ve been at … Continue reading →

the major release of this past week was the second estimate of 1st quarter GDP from the Bureau of Economic Analysis; other widely watched releases included the April advance report on durable goods and the April report on new home … Continue reading →

rig count summary: oil prices: OPEC production: OPEC compliance: global demand forecasts:

oil prices moved up fairly steadily this week, finishing 5.2% higher, propelled mostly by the likelihood that OPEC and Russia will be extending their production cut agreement by up to 9 months…the initial rally began early in overseas markets on … Continue reading →

oil prices moved up fairly steadily this week, finishing 5.2% higher, propelled mostly by the likelihood that OPEC and Russia will be extending their production cut agreement by up to 9 months…the initial rally began early in overseas markets on … Continue reading →

regular monthly reports that were released this week included the April report on Industrial Production and Capacity Utilization from the Fed, the April report on New Residential Construction from the Census Bureau, and the Regional and State Employment and Unemployment … Continue reading →

gasoline supplies: rig count summary: drilling productivity report map:

Both oil and natural gas prices moved higher last week, as both commodities saw larger than expected withdrawals of supplies from storage, while oil prices were also underpinned by expectations that OPEC would extend their production cuts when they meet … Continue reading →

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

retail sales: rig count summary: rig count graph: official OPEC crude production: reported OPEC crude production: global oil supply: global oil demand: