OPEC Will Likely Balance The Oil Market By Next Month

(edited)

40 minutes ago, JJCar said:

Solid State batteries are not a tweak.

They are worse than a tweak.  They are a step in reverse.  Lower power density(half NMC).  Lower longevity.  Lower reliability. EDIT: Better durability though.  At least your car will not explode in a fireball. 

Edited by Wastral

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59 minutes ago, Adam Jackson said:

Adam Jackson said: That is from EIA.

Old-Ruffneck said: thanks for the info

 

Kid: Learn what sarcasm is...  He was laughing at your ignorance

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8 hours ago, Wastral said:

Kid: Learn what sarcasm is...  He was laughing at your ignorance

Cut kids (like me) some slack plz. Although not sure where the confusion was to begin with. Only the last line of link below explains everything. Net supply = net demand -> rest is just fill in the blanks. US producing (approx) 15mbd of oil/ngls - net imports of around 2.5mbd so net local consumption of 17.5mbd. Further around 1mbd of renewables (this was interesting dataset for me).

https://www.eia.gov/petroleum/supply/monthly/pdf/table4.pdf

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On 3/8/2019 at 11:27 AM, Dan Warnick said:

What evidence is there that OPEC is curbing oil exports to the U.S.?  I question this because that would entail a scenario where a U.S. concern wishes to purchase OPEC oil and OPEC refuses to sell some or all of what the concern wishes to purchase.  Another scenario would be where a U.S. concern's PO is sent and a tanker shows up at the OPEC port for delivery and the OPEC supplier turns the tanker away empty.  Are either of these scenarios happening?  Or is it being reported that less OPEC oil is being received in U.S. ports?  If there was no order, or less orders, that would result in less oil being received in U.S. ports.  You see, this isn't as straight forward as it would seem.  And I think William would agree.

I would argue that OPEC saying they are going to curb oil exports to the U.S. results in speculators taking advantage of such announcements and buying or selling futures contracts to their own (hopefully, it IS speculating) advantage.  Don't forget, speculative futures contracts actually get filled and delivered, or not made and therefore not delivered, as the case may be.

You are correct, Dan, I do agree. The facts support the notion that the Saudis cut because they had to, not because they wanted to. They were smart enough, however, to believe that the traders and the media were dumb enough to buy their story.

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