- Saudi's oil exports feel to slight less than 7 million bopd in February, 2017, the lowest since May, 2015
- compare to 7.7 million bopd in January
- boosted production to 10 million bopd from 9.7 million bopd
- refinery processing increasd b 26%
- crude used directly to fuel power plants increased
- storage increased
- stockpiles increased to 265 million bbls (compare to US' 555 million bbls)
- Saudi Aramco's 120,000 bopd refinery has shut down for 80-day maintenance
- storage increases reflect that shutdown
- other refineries will make up the slack for the shutdown which will last through mid-May
- country plans to double refining capacity over the next ten years
US refining as gasoline prices start increase significantly: US refiners are at 93% operable capacity; they increased throughput by about 240,000 bbls/day, but evenso, gasoline production decreased last week, averaging 9.8 million bbls/day. Imports of crude oil decreased by a miserable 68,000 bopd (trivial), averaging over 7.8 million bopd. Over the past four weeks, US crude oil imports have actually increased 2% over the same same four-week period one year ago.
Morgan Stanley: quarter profit surges on trading gains. With regard to trading gains/losses, it appears Goldman Sachs was the "odd man out" this past quarter.
IBM, continued: stock tumbles as year-over-year revenue declines for 20th consecutive quarter -- CNBC. Earnings ($2.38) beat forecast ($2.35). Warren Buffett will take huge beating.
Wind And Solar
Oklahoma: to end tax credit that propelled wind production.
Indiana: legislature approves bill curtailing solar panel incentives.