WTI: back over $81 this morning.
Alex Kiimani, link here.
China could actually end up being the icing on the oil price cake. It’s like saving up for a surge. “The pent-up demand out of China is going to be enormous. “That could swing demand by at least a million barrels a day, and that could easily make the difference between an oil price forecast of $95 to $105 versus $120 to $130. Easily,” Amrita Sen, director of research for Energy Aspects, told WSJ.
China: hints that restrictive policies easing.
- China has given us many head-fakes before but this time it looks different, but it's not gonna happen overnight.
Julianne Geiger, link here.
United States commercial crude oil inventories sank more than 12 million barrels last week, according to EIA data—after crude oil exports, including refined products, soared to the most ever to nearly 11.8 million bpd. This compares to crude oil and product exports at the beginning of the year at 6.6 million bpd, and 7.5 million bpd in the same week last year.
Javier Blas:
Disclaimer: this is not an investment
site. Do not make any investment, financial, job, career, travel, or
relationship decisions based on what you read here or think you may have
read here.
All my posts are done quickly:
there will be content and typographical errors. If anything on any of
my posts is important to you, go to the source. If/when I find
typographical / content errors, I will correct them.
***************************
Back to the Bakken
The Far Side: link here.
WTI: $81.60.
Natural gas: $7.012.
Active rigs: 40.
Friday, December 2, 2022: 5 for the month, 114 for the quarter, 658 for the year.
38802, conf, CLR, Medicine Hole 16-27HSL1,
37963, conf, Enerplus, Pancake 151-94-16B-21H,
38174, conf, CLR, LCU Foster FUI 11-28H,
37964, conf, Enerplus, Omelet 151-94-16B-21H,
29285, conf, Slawson, Vixen Federal 4-19-30TFH,
RBN Energy: counterintuitive premises at heart of debate over RINs policy.
The Renewable Identification Number, or RIN, market is so misunderstood that even its main participants don’t agree on its financial impact, effectiveness, or even basic fairness. RINs are a feature of the federal Renewable Fuel Standard (RFS), which requires renewable fuels like ethanol and bio-based diesel to be blended into fuels sold in the U.S. And depending on your point of view — trader, farmer, refiner, blender, consumer, politician — you may have a very different perspective about how the system works. In today’s RBN blog, we discuss highlights from our new Drill Down Report that attempts to make sense of the complexities of the RINs market.
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