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US Distillate Inventories Fell for the Third Time in 10 Weeks

US distillate inventories fell by 3.8 MMbbls (million barrels) or 2.7% to 139.2 MMbbls on January 5–12, 2018. The inventories also fell by 29.9 MMbbls or 18% from a year ago. (19-0)

India’s Crude Oil Imports Hit a Record in 2017

India is the world’s third-largest crude oil consumer. Its oil imports hit a record in 2017. India’s crude oil imports rose 1.8% to 4.3 MMbpd (million barrels per day) in 2017, according to Reuters. An increase in domestic demand led to the rise in refinery demand, which caused the rise in crude oil imports. India’s crude oil refining capacity increased to 5 MMbpd in 2H17. Any rise in crude oil imports from India is bullish for oil (UWT) (DWT) prices. (11-0)

Will Crude Oil Futures Rise or Fall This Week?

The EIA will release its weekly crude oil inventory report on January 18, 2018. OPEC will release its monthly oil market report on the same day. The IEA will release its oil market report on January 19, 2018. (13-0)

US Distillate Inventories Rose for the Seventh Time in 8 Weeks

US distillate inventories rose by 4.2 MMbbls (million barrels) to 143.1 MMbbls between December 29, 2017, and January 5, 2018, according to the EIA. Inventories rose 3.1% week-over-week but fell by 26.9 MMbbls or 16% YoY. (13-0)

The Suicide Mission Of Insider Buying At Chesapeake Energy

2018-01-07 seekingalpha
It is going to take a whole lot more than insider buying to make this stock a good investment decision. (142-1)

Russia’s Crude Oil Production Reached a 30-Year High

Russia’s crude oil production averaged 10.98 MMbpd (million barrels per day) in 2017, according to Russia’s Ministry of Energy. Production rose 0.1% year-over-year in 2017—a 30-year high. Production rose for the ninth consecutive year. Production rose 0.1% to 10.95 MMbpd in December 2017—compared to the previous month. Russia’s crude oil production increased despite ongoing output cuts. (17-0)

Why Oil Traders Are Tracking US Gasoline Inventories

2017-12-31 marketrealist
US gasoline inventories rose by 0.5 MMbbls (million barrels) or 0.3% to 228.3 MMbbls from December 15 to 22, 2017, per the EIA. The inventories also increased by 1.2 MMbbls or 0.5% year-over-year. Market surveys had estimated that US gasoline inventories could have increased by 1.3 MMbbls from December 15 to 22, 2017. (14-0)

Crude Oil Prices: Which Factor Could Change the Trend?

2017-12-21 marketrealist
The EIA estimated that US crude oil production rose by 9,000 bpd (barrels per day) to 9,789,000 bpd on December 8–15, 2017. Production is at the highest level ever. US crude oil production rose by 1,003,000 bpd or 11.4% year-over-year. Production increased for the ninth straight week. WTI oil (DWT) (UCO) prices have fallen 1.5% since the highs on November 24, 2017, due to record US production. (12-0)

Libya’s Crude Oil Production Is near a 4-Year High

2017-12-20 marketrealist
The EIA estimates that Libya’s crude oil production rose by 20,000 bpd (barrels per day) or 2.1% to 980,000 bpd in November 2017—compared to the previous month. Production rose by 395,000 bpd or 68% from the same period in 2016. Production was near a four-year high. (17-0)

BRIEF-Goodrich Petroleum Announces Preliminary Capital Expenditure Budget For 2018 Of $65 - $75 Mln

2017-12-20 reuters

US Distillate Inventories Fell for the First Time in 4 Weeks

2017-12-14 marketrealist
US distillate inventories fell by 1.3 MMbbls (million barrels) to 128.1 MMbbls on December 1–8, 2017, according to the EIA. Inventories fell 1.1% week-over-week and by 27.8 MMbbls or 17.8% YoY (year-over-year). (20-0)

Hedge Funds Cut Their Net Long Positions before OPEC’s Meeting

2017-11-28 marketrealist
On November 27, 2017, the US Commodity Futures Trading Commission released its weekly “Commitment of Traders” report. Hedge funds cut their net bullish positions on US crude oil (USL) (UCO) futures and options by 5,872 contracts or 1.7% to 343,840 contracts on November 14–24, 2017. US crude prices rose 5.5% during the same period. Hedge funds’ are reducing their net bullish positions in US crude oil (UWT) (DBO) futures and options ahead of OPEC’s meeting. (15-0)

How Long Can OPEC Extend the Production Cuts?

2017-11-28 marketrealist
OPEC’s meeting will be held in Vienna on November 30, 2017. Crude oil (BNO) (DBO) (SCO) prices have risen 23% since September 2017 partially due to optimism about extending the production cuts beyond March 2018. Reuters and Bloomberg sources suggest that OPEC might extend the production cuts for nine more months.  (15-0)

GDP / Goodrich Petroleum Corporation - Stock Institutional Ownership and Shareholders -

Goodrich Petroleum Corporation (AMEX:GDP) has 33 institutional investors and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 52,924,035 shares. Largest shareholders include Franklin Resources Inc, Anchorage Capital Group, L.L.C., Jp Morgan Chase & Co, Raffles Associates Lp, and FMR LLC / Fidelity Management & Research. (28-1)

US Crude Oil Production: Bearish Driver for Oil Prices

2017-11-16 marketrealist
The EIA estimates that US crude oil production rose by 25,000 bpd (barrels per day) or 0.3% to 9,645,000 bpd on November 3–10, 2017. Production is at the highest level since 1983, which weighed on crude oil (USO) (UCO) prices on November 15, 2017. US crude oil (UWT) (DWT) prices fell 3% in the last five trading session due to record US crude oil production and forecasts of a rise in US shale oil production for the 12th straight month. (106-0)