notsonice + 1,255 DM July 26 33 minutes ago, Ecocharger said: Coal production is increasing in China. Relax and enjoy. Luddite Coal stockpiles in China are at record highs ........relax you can always use the coal for heating your home....I am sure the air quality outside of your house in Beijing is great....cough cough In the US coal stockpiles are now at a 5 month supply....guess no one uses coal any more in the US ......Americans are so much smarter than your beloved fellow brothers in China...Guess Americans love being healthy instead of an early death due to crappy air Pesky solar panels and wind turbines in the US are wiping out the need for coal .. do not worry China is turning to the same as they are waking up to the fact that Coal sucks Crude Oil Prices Today | OilPrice.com Coal Share of China's Power Output Drops to Record Low The share of coal in China's power generation has fallen below 60% for the first time ever. PS and now back to your most favorite fossil fuel for your clunker ..... Oil production is increasing and yet demand is not increasing Oil Storage in China is now completely filled ...........You should buy some oil ....great bargain today .... Chinas oil imports are crashing Reuters China's first-half 2024 fuel oil imports slide 11% y/y China's total fuel oil imports slipped 11% in the first half of 2024, data showed on Saturday, amid a backdrop of weak refining margins and... . 6 days ago Pesky EVs Enjoy the price keeps falling Brent is now down to $80 plus change ............. What do you think is driving down the demand and price for oil???????? give it a whirl ..........OPEC sure could use some advice as they have cut production by over 5 million BPD and the price still goes down...............oh my Peak oil sure is biting them in the arse You posted the prediction of $100 oil in 2024............you will make a fortune if your pipe-dream comes true with your babbling Oil demand is hot and getting hotter...Jump in and buy a million barrels Enjoy today as best you can as tomorrow the lovers of Fossil fuels will have just more painful news Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 26 1 minute ago, TailingsPond said: Why are you blithering on about Biden? He is not even running anymore and the election has very little to do with the green revolution (the thread topic). The world is bigger then the USA election and the fight against pollution will continue. Even within the USA powerful states like California will carry on with their own environmental plans, as they always have, regardless of who is POTUS. Trump won't debate Harris yet, probably because he wouldn't be going up against an old man and would / will get his ass handed to him. You will be wishing that Biden was still running very soon. Go back to explaining how coal is a non-polluter and that we should mimic the great nation of China. Spare us your political subterfuge in this thread traitor. Use the political divide thread if you must spread lies. Why is Ecochump blithering on about Biden?.... Ecochump is a blithering idiot (as all Luddites are) and lives in the past.........and Ecochump loves crappy air.......... Why he thinks coal is a non-polluter....Well, he is a blithering idiot, it is the only explanation why anyone would make such a statement 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 26 18 minutes ago, TailingsPond said: Why are you blithering on about Biden? He is not even running anymore and the election has very little to do with the green revolution (the thread topic). The world is bigger then the USA election and the fight against pollution will continue. Even within the USA powerful states like California will carry on with their own environmental plans, as they always have, regardless of who is POTUS. Trump won't debate Harris yet, probably because he wouldn't be going up against an old man and would / will get his ass handed to him. You will be wishing that Biden was still running very soon. Go back to explaining how coal is a non-polluter and that we should mimic the great nation of China. Spare us your political subterfuge in this thread traitor. Use the political divide thread if you must spread lies. I think that Harris will get her debate as soon as she wins the nomination of her own party. California is dead broke because of its wasted attempts at changing the climate. The current Gov. is in tatters with an unmanageable budget despite not even beginning the march to a non-fossil fuel future. California cannot afford to transition away from fossil fuels, with about 97% of the cars on California roads now fossil fuel. Over 99% of California transportation is fossil fuel, No money in California to go electric. https://www.cbsnews.com/sacramento/news/what-contributed-to-californias-record-68-billion-budget-deficit/ Harris will be saddled with the disastrous Biden legacy, of which she was a part. Simply screaming hysterically will not be a rational response to those criticisms. I remember a classic television coverage of VP Harris holding an electric charger in place to recharge an EV, she did not know that it was unnecessary to keep holding the handle, the charging could continue without her hand on it, not like a gasoline refill. This should be a fun campaign, https://www.youtube.com/watch?v=qfWMmH_PcrA Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 26 34 minutes ago, notsonice said: Luddite Coal stockpiles in China are at record highs ........relax you can always use the coal for heating your home....I am sure the air quality outside of your house in Beijing is great....cough cough In the US coal stockpiles are now at a 5 month supply....guess no one uses coal any more in the US ......Americans are so much smarter than your beloved fellow brothers in China...Guess Americans love being healthy instead of an early death due to crappy air Pesky solar panels and wind turbines in the US are wiping out the need for coal .. do not worry China is turning to the same as they are waking up to the fact that Coal sucks Crude Oil Prices Today | OilPrice.com Coal Share of China's Power Output Drops to Record Low The share of coal in China's power generation has fallen below 60% for the first time ever. PS and now back to your most favorite fossil fuel for your clunker ..... Oil production is increasing and yet demand is not increasing Oil Storage in China is now completely filled ...........You should buy some oil ....great bargain today .... Chinas oil imports are crashing Reuters China's first-half 2024 fuel oil imports slide 11% y/y China's total fuel oil imports slipped 11% in the first half of 2024, data showed on Saturday, amid a backdrop of weak refining margins and... . 6 days ago Pesky EVs Enjoy the price keeps falling Brent is now down to $80 plus change ............. What do you think is driving down the demand and price for oil???????? give it a whirl ..........OPEC sure could use some advice as they have cut production by over 5 million BPD and the price still goes down...............oh my Peak oil sure is biting them in the arse You posted the prediction of $100 oil in 2024............you will make a fortune if your pipe-dream comes true with your babbling Oil demand is hot and getting hotter...Jump in and buy a million barrels Enjoy today as best you can as tomorrow the lovers of Fossil fuels will have just more painful news As I stated above, coal production is increasing in China. Thanks for the reminder. Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 26 9 minutes ago, Ecocharger said: As I stated above, coal production is increasing in China. Thanks for the reminder. yet overall consumption in China is declining.............. pesky stockpiles are at record highs in China pay attention ....you seem to not understand that the record pace of building Solar/Wind farms , pumped storage and nuclear power plants in China is crushing the long term need for coal fired power in China......... 2nd Half of this year 200 GW of new solar and wind power will come online in China \with their output outpacing the growth in Electrical demand in China...............................and guess who the loser is ........You got it .......the lovers of coal Coal miners hate record stockpiles as it always results in 2 lumps of coal in their stocking at XMAS.....Pesky solar panels are going to steal the coal miners XMAS in 2024 Enjoy as the same is happening in oil and the price of oil today....oh my WTI under $77 Reuters China's oil sector is weak, with rising crude inventories China doesn't disclose the volumes of crude flowing into or out of strategic and commercial stockpiles, but an estimate can be made by... . 1 week ago The Week Why is China stockpiling resources? China is rapidly stockpiling crucial materials in a manner that is beginning to draw "global attention". Among the materials are stocks of... . 1 day ago The Economist Why is Xi Jinping building secret commodity stockpiles? Vast new holdings of grain, natural gas and oil suggest trouble ahead | Finance and economics. . 3 days ago BNN Bloomberg Oil Eases as Traders Weigh Sluggish China and US Stockpile Data Oil dipped after touching a six-week low in the previous session as traders assessed lower US stockpiles and weakness in Chinese demand. . 11 hours ago 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 27 11 hours ago, notsonice said: yet overall consumption in China is declining.............. pesky stockpiles are at record highs in China pay attention ....you seem to not understand that the record pace of building Solar/Wind farms , pumped storage and nuclear power plants in China is crushing the long term need for coal fired power in China......... 2nd Half of this year 200 GW of new solar and wind power will come online in China \with their output outpacing the growth in Electrical demand in China...............................and guess who the loser is ........You got it .......the lovers of coal Coal miners hate record stockpiles as it always results in 2 lumps of coal in their stocking at XMAS.....Pesky solar panels are going to steal the coal miners XMAS in 2024 Enjoy as the same is happening in oil and the price of oil today....oh my WTI under $77 Reuters China's oil sector is weak, with rising crude inventories China doesn't disclose the volumes of crude flowing into or out of strategic and commercial stockpiles, but an estimate can be made by... . 1 week ago The Week Why is China stockpiling resources? China is rapidly stockpiling crucial materials in a manner that is beginning to draw "global attention". Among the materials are stocks of... . 1 day ago The Economist Why is Xi Jinping building secret commodity stockpiles? Vast new holdings of grain, natural gas and oil suggest trouble ahead | Finance and economics. . 3 days ago BNN Bloomberg Oil Eases as Traders Weigh Sluggish China and US Stockpile Data Oil dipped after touching a six-week low in the previous session as traders assessed lower US stockpiles and weakness in Chinese demand. . 11 hours ago China is ramping up coal production and expanding production capacity. https://www.reuters.com/markets/commodities/china-coal-industry-group-expects-output-growth-slow-2024-2024-03-20/#:~:text=BEIJING%2C March 20 (Reuters),than last year's 2.9% growth. "China's coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry group said on Wednesday, slower than last year's 2.9% growth. The projection comes on the back of record output in 2023, when the world's largest coal consumer mined 4.66 billion tons of the polluting fossil fuel." Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 27 2 minutes ago, Ecocharger said: China is ramping up coal production and expanding production capacity. https://www.reuters.com/markets/commodities/china-coal-industry-group-expects-output-growth-slow-2024-2024-03-20/#:~:text=BEIJING%2C March 20 (Reuters),than last year's 2.9% growth. "China's coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry group said on Wednesday, slower than last year's 2.9% growth. The projection comes on the back of record output in 2023, when the world's largest coal consumer mined 4.66 billion tons of the polluting fossil fuel." March 20 article??? Luddite times are changing fast and since last year (and since March) , overall coal consumption has flatlined...... Cement production is now down over 10 percent YOY which has led to an overall decrease in coal consumption. Try to post up to date info. We do understand that, as you are a Luddite, you live in the past. Enjoy, your beloved China has experienced both Peak coal and Peak oil already https://www.bloomberg.com/opinion/articles/2024-07-22/end-of-china-s-cement-boom-is-good-for-the-planet Bloomberg.com China’s Cement Boom Is Over. We Can All Breathe Easier The industry's collapse will lead to a more balanced economy, as well as a healthier planet. . 4 days ago PS cash for Clunkers was just doubled in China....EV boom has just been put into hyperdrive.......Clunkers are doomed More EVs and at the same time Clunkers are sent to the crushers. BOGO....enjoy the Green agenda....cleaner air is happening Quote Share this post Link to post Share on other sites
specinho + 470 July 28 (edited) On 7/27/2024 at 3:58 AM, notsonice said: Luddite Coal stockpiles in China are at record highs ........relax you can always use the coal for heating your home....I am sure the air quality outside of your house in Beijing is great....cough cough In the US coal stockpiles are now at a 5 month supply....guess no one uses coal any more in the US ......Americans are so much smarter than your beloved fellow brothers in China...Guess Americans love being healthy instead of an early death due to crappy air Pesky solar panels and wind turbines in the US are wiping out the need for coal .. do not worry China is turning to the same as they are waking up to the fact that Coal sucks Crude Oil Prices Today | OilPrice.com Coal Share of China's Power Output Drops to Record Low The share of coal in China's power generation has fallen below 60% for the first time ever. PS and now back to your most favorite fossil fuel for your clunker ..... Oil production is increasing and yet demand is not increasing Oil Storage in China is now completely filled ...........You should buy some oil ....great bargain today .... Chinas oil imports are crashing Reuters China's first-half 2024 fuel oil imports slide 11% y/y China's total fuel oil imports slipped 11% in the first half of 2024, data showed on Saturday, amid a backdrop of weak refining margins and... . 6 days ago Pesky EVs Enjoy the price keeps falling Brent is now down to $80 plus change ............. What do you think is driving down the demand and price for oil???????? give it a whirl ..........OPEC sure could use some advice as they have cut production by over 5 million BPD and the price still goes down...............oh my Peak oil sure is biting them in the arse You posted the prediction of $100 oil in 2024............you will make a fortune if your pipe-dream comes true with your babbling Oil demand is hot and getting hotter...Jump in and buy a million barrels Enjoy today as best you can as tomorrow the lovers of Fossil fuels will have just more painful news Quote:" What do you think is driving down the demand and price for oil?????......." Eerrrr....... You might have missed out something. They are into something called " sustainable consumption". It means, they cut down production to keep some of those for future generation...... '-' Regarding price, young advisors of banks are gaining a sweet head start in playing with commodity when it dropped to $10 per barrel few years back. Banks, soon, allowed public participation to counteract inflation caused by hasty execution of policy by governments and officers. Price is stagnant to give them a break from euphoria. Black rock and exon mobile pull out all money probably in good solos' shadowy time. '-' Edited July 28 by specinho Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 28 (edited) On 7/27/2024 at 4:40 AM, notsonice said: March 20 article??? Luddite times are changing fast and since last year (and since March) , overall coal consumption has flatlined...... Cement production is now down over 10 percent YOY which has led to an overall decrease in coal consumption. Try to post up to date info. We do understand that, as you are a Luddite, you live in the past. Enjoy, your beloved China has experienced both Peak coal and Peak oil already https://www.bloomberg.com/opinion/articles/2024-07-22/end-of-china-s-cement-boom-is-good-for-the-planet Bloomberg.com China’s Cement Boom Is Over. We Can All Breathe Easier The industry's collapse will lead to a more balanced economy, as well as a healthier planet. . 4 days ago PS cash for Clunkers was just doubled in China....EV boom has just been put into hyperdrive.......Clunkers are doomed More EVs and at the same time Clunkers are sent to the crushers. BOGO....enjoy the Green agenda....cleaner air is happening You really do have a hard time with numbers, I guess those math courses you skipped are hurting your capabilities on this. I gave you this data already but it slipped through your mental receptors like water through a sieve. https://oilprice.com/Latest-Energy-News/World-News/Chinas-Coal-Production-Hits-Six-Month-High.html "Chinese coal production stood at 405.38 million metric tons in June, the highest volume since December 2023 and a 3.6% rise compared to June last year, according to data from China’s National Bureau of Statistics (NBS) reported by Reuters on Monday. Earlier this year, Chinese coal output was weaker, due to numerous safety inspections at mines following deadly incidents, and lowered production in the province of Shanxi, China’s top coal-producing area, which accounts for nearly 30% of domestic output. " https://www.reuters.com/world/china/chinas-june-coal-output-hits-six-month-high-safety-inspections-ease-2024-07-15/ "The six-month high was calculated by averaging out January-February production, since NBS reports the two months in a combined data release to smooth out the effects of the lunar new year holiday which falls in either month. Analysts at Galaxy Futures attributed the higher output in June to seasonal effects from the Northern Hemisphere summer increasing demand for air conditioning as temperatures rise. They also cited an improvement in the rate of deadly mining accidents allowing some mines to restart operations." "Average daily output in June rose to 13.5 million tons, according to Reuters' calculations using the NBS data, also the highest since December." Edited July 28 by Ecocharger Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 28 Pesky EVs Peak oil already happened China is buying less than the past and the Saudis keep cutting production Enjoy the Green Agenda Reuters Oil falls 1.5%, ends week lower on China demand fears Oil futures fell about 1.5% on Friday, finishing the week lower on declining Chinese demand and hopes of a Gaza ceasefire agreement that... . 1 day ago Bloomberg China’s Low-Gear Economy Dims Global Outlook For Oil China's struggle to kick start its stuttering economy has spawned forecasts of weaker fuels consumption during the rest of this year,... . 2 days ago CNBC U.S. crude oil posts third weekly decline as China demand raises concerns West Texas Intermediate oil fell 3.7% this week, while Brent dropped 1.8%. Surprise rate cuts by China this week raised worries that Beijing... . 2 days ago South China Morning Post The problem with China’s oil habit is not supply but demand Drilling for deep-sea, offshore oil entails high costs and fracking carries unique challenges. Ultimately, China must drastically cut oil... . 19 hours ago Quote Share this post Link to post Share on other sites
TailingsPond + 1,008 GE July 28 (edited) 7 hours ago, Ecocharger said: Earlier this year, Chinese coal output was weaker, due to numerous safety inspections at mines following deadly incidents, and lowered production in the province of Shanxi, China’s top coal-producing area, which accounts for nearly 30% of domestic output. " [] They also cited an improvement in the rate of deadly mining accidents allowing some mines to restart operations." Like I keep saying coal kills. Is China taking good care of its people? Why do you want to emulate China? "an improvement in the rate of deadly mining accidents..." So people are still dying just at an acceptable rate. Perfect eco-logic, "the crap is deadly but now is 35% less deadly, so no problem." Modern technology and all that. Edited July 28 by TailingsPond 1 Quote Share this post Link to post Share on other sites
Old-Ruffneck + 1,246 er July 29 (edited) 7 hours ago, notsonice said: Peak oil already happened China is buying less than the past and the Saudis keep cutting production Sorry but your thinking China may be consuming slightly less is why the Saudi's are slightly cutting back on crude is because the world has slowed usage? Dead wrong. More countries now are producing more oil and the Saudi's realize supply and demand. More crude is being produced worldwide than any other time in history. Take your "Enjoy the Green Agenda" and enjoy the overflow of oil bringing it down. Less at the pumps!! And you call others "Luddite"!!! Edited July 29 by Old-Ruffneck 1 Quote Share this post Link to post Share on other sites
TailingsPond + 1,008 GE July 29 3 hours ago, Old-Ruffneck said: More crude is being produced worldwide than any other time in history. Yep, and that is with production curtailments. "Drill baby drill" combined with retaliatory production increases from OPEC could crash oil. Add in reduced fuel usage from EV adoption and more remote-work arrangements post covid and oil could quickly become devalued. 2 Quote Share this post Link to post Share on other sites
TailingsPond + 1,008 GE July 29 https://oilprice.com/Alternative-Energy/Renewable-Energy/What-Are-Americas-Cheapest-Energy-Sources.html 1 Quote Share this post Link to post Share on other sites
TailingsPond + 1,008 GE July 29 WTI $75.57 Strong demand there... 1 1 Quote Share this post Link to post Share on other sites
TailingsPond + 1,008 GE July 29 (edited) Remember when someone said the green revolution is over? https://oilprice.com/Latest-Energy-News/World-News/Spain-To-Spend-18B-on-300-Clean-Energy-Projects.html Any day now... Edited July 29 by TailingsPond 1 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 29 (edited) 16 hours ago, TailingsPond said: Yep, and that is with production curtailments. "Drill baby drill" combined with retaliatory production increases from OPEC could crash oil. Add in reduced fuel usage from EV adoption and more remote-work arrangements post covid and oil could quickly become devalued. EVs are carbon intensive vehicles, but if Chinese economic growth stalls the world economy slows and oil demand with it. That is another cyclical factor, however long term oil is still king, with about 99% of American transportation dependent on fossil fuels. Also the same percentage in China. Edited July 29 by Ecocharger Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 29 1 hour ago, Ecocharger said: EVs are carbon intensive vehicles, but if Chinese economic growth stalls the world economy slows and oil demand with it. That is another cyclical factor, however long term oil is still king, with about 99% of American transportation dependent on fossil fuels. Also the same percentage in China. Chinese economic growth stalls the world economy slows and oil demand with it.???????? looks like your correlation is BS Luddite oil demand is stalling out (decreasing in China) and China GDP is increasing at 4.7 in the last quarter economic growth is up up up and Oil is down down down..... pesky Green agenda is insuring China's 4 to 5 percent growth for the next 10 years the correlation between Oil demand and economic growth ended years ago.....oil consumption has increased 1 percent since 2019 and ....Oh my it looks like a contraction in oil demand is possible this year.....yet the global economy looks like it will increase by 3 percent plus oil demand has been flat since 2019 ...5 years ago and global economic growth is up CNBC U.S. economy grew at a 2.8% pace in the second quarter, much more than expected Real gross domestic product increased at a 2.8% annualized pace in the second quarter, above the 2.1% forecast. . 4 days ago oil demand is stalling out and China GDP is increasing at 4.7 in the last quarter CNBC China reports second-quarter GDP growth of 4.7%, missing expectations China's National Bureau of Statistics on Monday said the country's second-quarter GDP rose by 4.7%. That's slower than the 5.3% year on year... . 2 weeks ago Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 29 23 hours ago, Old-Ruffneck said: Sorry but your thinking China may be consuming slightly less is why the Saudi's are slightly cutting back on crude is because the world has slowed usage? Dead wrong. More countries now are producing more oil and the Saudi's realize supply and demand. More crude is being produced worldwide than any other time in history. Take your "Enjoy the Green Agenda" and enjoy the overflow of oil bringing it down. Less at the pumps!! And you call others "Luddite"!!! and Brent fell under $80 today..... good luck with your bs ... oil demand is down and supply is up this year both at the same time.... falling price and falling consumption of oil in China is a disaster for Oil Companies Enjoy the Green Agenda Oil consumption in 2024..........going down down down.......... Brought to you by the booming production and sale of EVs in China Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 29 6 hours ago, TailingsPond said: WTI $75.57 Strong demand there... next 3 months in oil is an all out bear market......... $70 WTI is in the cards before the first snow Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 30 4 hours ago, notsonice said: Chinese economic growth stalls the world economy slows and oil demand with it.???????? looks like your correlation is BS Luddite oil demand is stalling out (decreasing in China) and China GDP is increasing at 4.7 in the last quarter economic growth is up up up and Oil is down down down..... pesky Green agenda is insuring China's 4 to 5 percent growth for the next 10 years the correlation between Oil demand and economic growth ended years ago.....oil consumption has increased 1 percent since 2019 and ....Oh my it looks like a contraction in oil demand is possible this year.....yet the global economy looks like it will increase by 3 percent plus oil demand has been flat since 2019 ...5 years ago and global economic growth is up CNBC U.S. economy grew at a 2.8% pace in the second quarter, much more than expected Real gross domestic product increased at a 2.8% annualized pace in the second quarter, above the 2.1% forecast. . 4 days ago oil demand is stalling out and China GDP is increasing at 4.7 in the last quarter CNBC China reports second-quarter GDP growth of 4.7%, missing expectations China's National Bureau of Statistics on Monday said the country's second-quarter GDP rose by 4.7%. That's slower than the 5.3% year on year... . 2 weeks ago You chart looks like GDP growth is stalling worldwide...that does not look good for anything, let alone oil. Right now oil demand is currently strong, inventories for oil and oil products are continuing to fall (I guess you failed to see that?) at a rapid pace, which normally means price increases. If the world economy continues to slow according to your chart, all bets are off for anything, fossil fuel or renewable. Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 30 3 hours ago, notsonice said: and Brent fell under $80 today..... good luck with your bs ... oil demand is down and supply is up this year both at the same time.... falling price and falling consumption of oil in China is a disaster for Oil Companies Enjoy the Green Agenda Oil consumption in 2024..........going down down down.......... Brought to you by the booming production and sale of EVs in China Oil demand is currently strong as oil inventories continue to fall, so demand is holding up strongly for fossil fuels. I guess you just cannot resist making a foolish remark on oil, right? Like an addiction. Here is what is actually happening, read and learn. https://oilprice.com/Energy/Oil-Prices/Why-Falling-US-Inventories-Fail-To-Lift-Oil-Prices.html "Kemp: Between June 21 and July 19, commercial crude inventories in the United States fell by a total of 24 million barrels. Lingering concerns about the state of China’s economy and oil demand in the second half of the year continue to be the major drag on oil prices" "Between June 21 and July 19, commercial crude inventories in the United States fell by a total of 24 million barrels, per EIA data compiled by Reuters market analyst John Kemp." "Last week, for example, the EIA reported an inventory decline of 3.7 million barrels for the week to July 19. This compared with an inventory draw of 4.9 million barrels estimated by the EIA for the previous week. Gasoline stocks shed 5.6 million barrels in the week to July 19, with production averaging 10.2 million barrels per day (bpd). This compared with a build of 3.3 million barrels for the previous week when production averaged 9.5 million bpd. In middle distillates, the EIA estimated an inventory decline of 2.8 million barrels for the week to July 19, with production averaging 4.9 million bpd. This supportive bullish report on U.S. inventories failed to keep prices higher for more than a day, even if implied U.S. gasoline demand is estimated to have increased by 673,000 bpd in the week to July 19 compared to the previous week." 1 Quote Share this post Link to post Share on other sites
TailingsPond + 1,008 GE July 30 (edited) 2 hours ago, Ecocharger said: This supportive bullish report on U.S. inventories failed to keep prices higher for more than a day, even if implied U.S. gasoline demand is estimated to have increased by 673,000 bpd in the week to July 19 compared to the previous week." Reality versus speculation. Actual prices are more informative than opinion reports. WTI already dropped further to $75.46 in just 12 hours. Edited July 30 by TailingsPond 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,474 DL July 30 1 hour ago, TailingsPond said: Reality versus speculation. Actual prices are more informative than opinion reports. WTI already dropped further to $75.46 in just 12 hours. Prices can fluctuate wildly in the short term, but eventually the reality of the marketplace prevails and there is a sudden snapback in the price. That often happens. The underlying dynamics of the oil markets are bullish as long as inventories decline and sales continue to be robust, sooner or later the inevitable price adjustment will occur. 1 Quote Share this post Link to post Share on other sites
notsonice + 1,255 DM July 30 (edited) 1 hour ago, Ecocharger said: Prices can fluctuate wildly in the short term, but eventually the reality of the marketplace prevails and there is a sudden snapback in the price. That often happens. The underlying dynamics of the oil markets are bullish as long as inventories decline and sales continue to be robust, sooner or later the inevitable price adjustment will occur. the inevitable price adjustment will occur.???? which is happening right now..... price is crashing as demand goes soft brought to you by the green agenda in your beloved China PS and you are the one who claimed within the past month that Oil demand is hot and getting hotter....... and yet sales are heading south...Enjoy Reality brought to you by EV sales in China According to OilPrice.com, China's domestic EV manufacturers have been aggressively lowering prices, which has led to a surge in EV sales in the country. In the second quarter of 2024, EVs reached a record market share of 46.6% in China, with a 64% increase in plug-in EVs and a 16% increase in battery EVs. In contrast, traditional internal combustion-engine vehicles (ICEVs) saw a 23% decline, even with record-high dealer discounts. Edited July 30 by notsonice 1 1 Quote Share this post Link to post Share on other sites
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