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February 26, 2021
Producer 2021 Guidance Implies Nearly Flat Oil Production
The theme of large oil independents and supermajors for 2021 is to keep production flat, pay down debt, and create more free-cash flow. For a sample of large producers who…
February 18, 2021
Saudi Arabia Teases Output Increases As Brent Nears $65
Saudi Arabia plans to unwind 1 MMBbl/d of supply cuts starting in April.* The action would end the 1 MMBbl/d of unilateral curtailments the country announced in early January for…
February 12, 2021
Cushing, PADD 3 Stocks Decline As Refineries Soak Up Crude in January
Crude inventories at Cushing have decreased by over 10 MMBbls or 300 MBbl/d during January, while PADD 3 (Gulf Coast) inventories also declined by 12 MMBbls. Collectively, Cushing and PADD…
February 12, 2021
EIA, IEA, OPEC Marginally Cut 2021 Demand Growth Estimates, but OPEC+ Firmly in Control of Oil Markets
The three major agencies (EIA, IEA, OPEC) released their monthly reports this week, and each marginally cut 2021 worldwide demand growth estimates from the prior month. However, the bigger picture…
February 12, 2021
Update* – DAPL Still In Limbo As New Administration Takes Office
The Army Corps of Engineers requested a two-month delay on whether to shutter DAPL Analysts at ClearView Energy partners see the delay tactic as a sign that the Biden administration…
February 5, 2021
OPEC Committee Discusses Policy As WTI Breaches $55/Bbl
The OPEC Joint Ministerial Monitoring Committee (JMCC) and Joint Technical Committee met this week to review global oil fundamentals and the best path to reduce global inventories. WTI was trading…
December 29, 2020
The (WTI) CMA Roll: 2020’s Wild Round Trip
The WTI CMA Roll, a contributor in most producer pricing formulas, can now be opportunistically locked in, once again. The WTI Calendar Month Average Roll (the “Roll”) is a component…
December 11, 2020
Lower Output, Strengthening Oil Demand Prompts EIA to Lift its WTI Forecast for ’20 and ’21
Lower supply expectations in the U.S. and abroad, and expectations for a recovery in global oil demand, will support prices through the end of 2021, according to the EIA.The EIA…
December 11, 2020
Mid-Cush Spread Rallies; AEGIS Trade Volume Spikes
Oil prices in Midland, Texas have been outpacing the rise of WTI at Cushing, Oklahoma, since early November. The WTI Midland-WTI Cushing spread (Mid-Cush) has surged 80c in the last…
