• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

203-656-1143

alebow@commodityresearchgroup.com

Commodity Research Group

AN INDEPENDENT COMMODITY RESEARCH GROUP

  • About Us
  • Our Associates
  • Research
  • Press
  • Podcast
    • All Episodes
    • Monthly Oil Market Report
    • Talkin’ EIAs
  • Blog
Contact Us

The World’s Oil Glut… Bloomberg

You are here: Home / Commodity Research / The World’s Oil Glut… Bloomberg

September 8, 2019 by Jim Colburn Leave a Comment

is much worse than it looks, argues Julian Lee, here…

”Still, whether you measure them as simple volumes or in terms of cover for future demand, OECD stockpiles are rising. Admittedly, much of the recent increase comes from natural gas liquids (light oils produced in large quantities from U.S. shale) which are used widely as petrochemical feedstocks. When you strip these out of the numbers, OECD inventories of crude oil plus the major fuel products – gasoline, middle distillates (diesel, heating oil and jet fuel) and fuel oil – are below their five-year average level.

Yet the stockpiles calculated on this basis are well above their 2010-2014 average and that’s the real problem for OPEC+ ministers when they meet in Abu Dhabi.”

Lee concludes:

”Saudi Arabia can’t rescue oil prices on its own. With demand growth weakening and non-OPEC supply rising, the producing nations may to have to consider both longer and deeper cuts.”

Category iconCommodity Research


 

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

 


Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Recent Posts

  • December Oil Market Report… IEA
  • Supply/Demand balance… EIA
  • Vol update…
  • China reminder… WSJ
  • Dueling Fed GDP Nowcasts…
  • Options snapshot… CME
  • Carbon risks, stock prices… Bloomberg
Get your free market report.

Take a look inside our premium market analysis with this free sample.

See Our Research

Footer

Get in touch

Get professional market research now.

203-656-1143

alebow@commodityresearchgroup.com

Company

  • Home
  • About
  • Associates
  • Contact

Resources

  • Research
  • Press
  • Podcast
  • Blog
Copyright © 2019 Commodity Research Group. All rights reserved. Developed by EKT Interactive. Return to top