Oil Slick Stuff

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EIA Petroleum Status Report
Economic Calendar - Bloomberg
[TABLE="class: actual_consensus_box"]
[TR="class: actual_consensus_toprow"]
[TD]		PriorActual
Crude oil inventories (weekly change)
Gasoline (weekly change)
Distillates (weekly change)

[TD="class: econo-releaseinfo"] Released On 12/9/2015 10:30:00 AM For wk12/4, 2015 [/TD]

[TD="class: actual_consensus_box_numbers"]1.2 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] -3.6 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]0.1 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 0.8 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]3.1 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 5.0 M barrels [/TD]
[/TD]
[/TR]
[/TABLE]
 
EIA Petroleum Status Report
Economic Calendar - Bloomberg
[TABLE="class: actual_consensus_box"]
[TR="class: actual_consensus_toprow"]
[TD]		PriorActual
Crude oil inventories (weekly change)
Gasoline (weekly change)
Distillates (weekly change)

[TD="class: econo-releaseinfo"] Released On 12/16/2015 10:30:00 AM For wk12/11, 2015 [/TD]

[TD="class: actual_consensus_box_numbers"]-3.6 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 4.8 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]0.8 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 1.7 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]5.0 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 2.6 M barrels [/TD]
[/TD]
[/TR]
[/TABLE]
 
Ouch, oil prices are going to keep going down with this glut...


nnuut said:
EIA Petroleum Status Report
Economic Calendar - Bloomberg
[TABLE="class: actual_consensus_box"]
[TR="class: actual_consensus_toprow"]
[TD]		PriorActual
Crude oil inventories (weekly change)
Gasoline (weekly change)
Distillates (weekly change)

[TD="class: econo-releaseinfo"] Released On 12/16/2015 10:30:00 AM For wk12/11, 2015 [/TD]

[TD="class: actual_consensus_box_numbers"]-3.6 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 4.8 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]0.8 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 1.7 M barrels [/TD]

[TD="class: actual_consensus_box_numbers"]5.0 M barrels[/TD]
[TD="class: actual_consensus_box_numbers"] 2.6 M barrels [/TD]
[/TD]
[/TR]
[/TABLE]
Click to expand...
 
nnuut said:
Yep went up a little but I think it should continue down.
View attachment 36321
Click to expand...
Nnuut, can you tell the government that now would be a good time to fill the Strategic Oil Reserves. Buy at the low and not at the high to close down this short term oil glut and save it for the next shortage. It is really something that oil speculation can raise oil prices so much by speculating on a shortage. I feel the damage to the US oil production by making Fracking and Shale oil non-profitable is done. Now oversea oil producers are starting to hurt too. So Nnuut, you can create a bottom right here.:rolleyes: By the way, I do enjoy filling my truck for less that $40.00.:D
 
You are spot on, instead they are authorizing exportation of Oil pumped in the USA which was not allowed for decades.
Are we running out of room to store more Oil?

[h=1]Strategic Petroleum Reserve (United States)[/h] From Wikipedia, the free encyclopedia

This article is about the United States Strategic Petroleum Reserve. For other countries, see global strategic petroleum reserves.
The Strategic Petroleum Reserve (SPR) is an emergency fuel storage of oil maintained by the United States Department of Energy. It is the largest emergency supply in the world with the capacity to hold up to 713.5 million barrels (113,440,000 m[SUP]3[/SUP]).[SUP][1][/SUP]
The current inventory is displayed on the SPR's website.[SUP][2][/SUP] As of 7 August 2015, the inventory was 695.1 million barrels (110,510,000 m[SUP]3[/SUP]). This equates to about 38 days of oil at 2013 daily US consumption levels of 18.49 million barrels per day (2,940,000 m[SUP]3[/SUP]/d)[SUP][3][/SUP] or 71 days at 2013 daily US import levels of 9.859 million barrels per day (1,567,500 m[SUP]3[/SUP]/d).[SUP][4][/SUP] At recent market prices ($69 a barrel as of December 2014[SUP][5][/SUP]) the SPR holds over $18.0 billion in sweet crude and approximately $25.5 billion in sour crude (assuming a $15/barrel discount for sulfur content). The total value of the crude in the SPR is approximately $43.5 billion. The price paid for the oil is $20.1 billion (an average of $28.42 per barrel).[SUP][6]
[url]https://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve_%28United_States%29
[/URL][/SUP]
 
Looks like Oil is turning around, may have hit the bottom, if that's true it should be good for the Markets.
USoil.jpg
 
[h=1]Oil back at $95 — but it will take 24 years: OPEC[/h] By Holly Ellyatt 5 hours ago



Oil prices will take decades to recover and will still not reach the peak seen in recent years, according to the latest World Oil Outlook (WOO) from OPEC.
In the group's latest outlook on supply, demand and prices to 2020 and 2040, OPEC predicted that a barrel of oil would cost (in real terms) around $70 by 2020 and $95 by 2040, a far cry from a high point of $114 a barrel last seen in June 2014 before prices began to plunge on oversupply. On Wednesday, a barrel of benchmark Brent crude cost $36.51, a shade above WTI at $36.47.

Price declines were exacerbated by the decision last year by OPEC, the 12-member producer group led by Saudi Arabia, not to cut production. Still, OPEC's Secretary General Abdalla Salem El-Badri said OPEC had been a bastion of stability amid volatile times for the oil industry.
Oil back at $95
 
Oil Companies Rush To Exploit End Of US Crude Export Ban

by Reuters
|
Catherine Ngai & Valerie Volcovici
|
Wednesday, December 23, 2015

Abrupt End

On Friday, Congress passed and President Barack Obama signed into law a $1.8 trillion government spending and tax relief bill that included repealing the four-decade-old export ban, which barred shipments to countries other than Canada. The Department of Commerce issued an official notice on Tuesday saying companies no longer need to apply for licenses to export crude.
In the coming weeks, companies are likely to "stress test" where export opportunities will be, said George Baker, executive director of the Producers for American Crude Oil Exports, which led the successful lobbying effort in Washington to lift the ban.
Pressure from oil producers to scrap the restrictions intensified over recent years, as U.S. crude oil prices plunged to as much as $25 a barrel below global prices due to a build-up of swelling U.S. shale production caused by infrastructure bottlenecks as well as the export ban.
But that gap has vanished in recent weeks amid growing evidence that U.S. production has shifted into reverse this year as plummeting prices caused drilling to dry up, while output overseas is still swelling, with Iran poised to increase sales as sanctions are lifted next year.
On Wednesday, U.S. oil futures were trading at a premium to global Brent all the way to June.
Jacob Dweck, an attorney with law firm Sutherland that represents oil producers, said some producers and shippers "are interested in flying the flag of exports ... They want to create the new reality of exports."
But analysts said even if a handful of companies announce deals in coming weeks, it does not signal a bigger trend.
"It's universally agreed in the short term that we won't see a flood of ships leaving for foreign ports because the economics aren't right," said Sandy Fielden, director of energy analytics at RBN Energy.
Click to expand...
- See more at: NEWS  |  Oil Companies Rush To Exploit End Of US Crude Export Ban  |  Rigzone
 
E10 from $1.73 to $1.99 a gallon in Boiled Peanut GA!
boiled+peanuts+179-edited+1.jpg
 
Nnut
three things- 1 Merry x-mas
2 any guesses/thoughts on oil in relation to equities up/down next week and
3 how tasty are boiled peanuts??
 
1. A Merry Christmas and a great New Year to you!!!
2. I wish I knew, but lower cost of Transportation should be good for the economy.
3. Very tasty and the flavor can be modified with addition of Spices, Ham, Sausage and other things, I love them. It's a Southern thing.
Boiled Peanuts pot.jpg
 
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