As we’ve been hearing, many countries appear to be increasing oil output this month vs. expected. Two of the guilty countries that may end up being the most important are classic hockey powers…Canada and Russia.
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As we near the end of the week, apparently oil traders can’t make up their minds about how to position themselves for the weekend. The WTI February contract was trading up $0.56 early this morning at $54.32/bbl on the heels of the story that Saudi Arabia has indeed cut January production by 486,000 barrels per […]
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2016 finished with some very promising numbers vs. 2015. In 2016 there was an average daily volume increase year-over-year from 2015. Oil broker PVM reported, “The annual growth, including both NYMEX and ICE contracts were up 22%; 2.93 million contracts per day, up from 2.39 million lots in 2015.” On top of that, WTI increased […]
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Happy New Year to all! As 2017 begins, oil prices are at their highest point in 18 months, as we all wait to see if OPEC, Russia and Co. can hold up their end of the bargain, in regards to production cuts. January 1st, 2017 was the official start date for when OPEC, Russia and […]
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