Monthly Archives: August 2020

oil prices rose for a 4th consecutive week as most US offshore production was shut down by two hurricanes in the Gulf of Mexico…after rising 3 cents or less than 0.1% to $42.34 a barrel last week as bullish news … Continue reading →

The key economic reports that were released this week were the 2nd estimate of 2nd quarter GDP and the July report on Personal Income and Spending, both from the Bureau of Economic Analysis ….the week also saw the release of … Continue reading →

rig count summary:

July’s well completions were down 80% from last July to a record low; new wells drilled also at a record low, but drilling rigs were up by 10 this week; distillate imports were at a 60 week low. oil prices … Continue reading →

The only widely watched reports released this week were the July report on New Residential Construction from the Census Bureau and the Existing Home Sales Report for July from the National Association of Realtors (NAR)….but this week also saw the … Continue reading →

rig count summary:

oil prices finished higher again this week after the EIA raised its price forecast and US oil and fuel inventories fell….after rising 2.4% to $41.22 a barrel last week on a drop in US oil inventories and fears of instability … Continue reading →

Major economic reports released this past week were the Job Openings and Labor Turnover Survey (JOLTS) for June, the July Consumer Price Index, the July Producer Price Index, and the July Import-Export Price Index, all from the Bureau of Labor … Continue reading →

retail sales: rig count summary: OPEC oil output: global oil supply: global oil demand:

the EIA reported 1,418,000 more barrels ​of oil production ​per day in May than was actually produced; natural gas prices rose by most in any week since 2009; distillates supplies at ​a third straight 38 year high; oil rig count … Continue reading →