Since mid-February, Bakken Clearbrook prices have rallied into positive territory versus WTI for the first time since April 2020. Weather-induced supply disruptions have been the main contributor to the positive…
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…
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…
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…
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…
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…
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…
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…
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…
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…