How bad is sentiment in oil? Reading about the tone during IP week, and now during CERA week, even the most contrarian among us would be rattled...
Gasoline demand… EIA
The EIA expects gasoline demand to remain below its 2007 peak despite an increase in miles driven... "Based on estimates in the most recent
Estimated Impact of Oil Price Declines on Output, 2014-2015
According to the most recent Economic Report to the President
Crude Glut Could Take Years to Disappear, IEA via WSJ…
More bearish sentiment from this week's IHS CERA conference in Houston, as reported by the WSJ
A new breed of traders on Wall Street… NYTimes
From the NYTimes' Dealbook: "And as these firms have grown, so has the demand for a new breed of Wall Street trader — one who can build financial
Veterans of 1980s oil glut say…. Reuters
Here is a Reuters article quoting some oil market veterans who suggest this slump could last and prices may even move lower:
“Oil is so cheap…
even pirates aren't stealing it anymore"... From Quartz (http://qz.com/619281/oil-is-now-so-cheap-even-pirates-arent-stealing-it-any-more/), "“With
Calling,Calling,Calling: OPEC “Calls” But Surplus Doesn’t Fall
A handy measure in the oil analysts toolbox is what's known as the " call on OPEC crude", which is basically what remains for OPEC crude production
Baker Hughes rig count…
via Business Insider (http://www.businessinsider.com/baker-hughes-rig-count-february-19-2016-2)... I get the efficiency argument, but can the