Ding-dong, the Cushing oil glut is gone! Yes, the Wicked Witch for oil investors--absurdly high US oil inventories--is dead.
This is a cyclical business so we knew it would happen eventually. But I am certain that nobody expected the Cushing glut to drain in the two months since November 3, 2017.
Yet that is what...
2017 had the largest reduction in global oil inventories since data became available 33 years ago according to data driven firm Cornerstone Analytics.
I bet you didn’t see that coming!
Source: Cornerstone Analytics
Stop for a moment and think about what that means.
If inventories are declining, that means that daily global oil...
Running Off a Cliff at Full Speed?
Western Canadian natgas prices are lower than a snake’s belly in a wagon rut.
And while most stocks are pricing that in, there could be another big leg down this spring.
The main natgas pricing hub in Canada is called “AECO” which is an old...
In 2017 the global oil industry recorded a dreadful level of new discoveries.
You read that correctly. I said dreadful.
Global energy consultant Rystad Energy of Norway just reported that in 2017, producers made enough discoveries to replace just 11% of what was produced during the year.
That means that for every...
Some people say a picture is worth 1000 words. I only need FIVE to explain this picture: It’s all the same asset.
This map says that Advantage Lithium (AAL-TSXv; CAD$140 million Enterprise Value) will one day be worth as much as Lithium Americas (LAC-TSX; CAD$1 billion Enterprise Value or US$800...
While the S&P 500 has marched relentlessly higher over the past eight plus years the energy sector has had a terrible time. The result of that is that investors have long since given up on the energy sector and instead enjoyed the easy ride that has been available elsewhere.
But...
Ever wonder how accurate the EIA’s oil production numbers are?
The EIA is the Energy Information Administration, a federal government division that produces the most transparent and well researched data on oil production and storage levels—of any country in the world.
Their Weekly Petroleum Supply Report (WPSR) comes out every Wednesday...
A determined James Stafford of OilPrice.com just busted wide open an oil industry information cartel that has existed for decades.
Most investors look at WTI and Brent prices at Bloomberg or CME Futures, and figure the oil price is in the public domain. You would be about 2% correct, because...
