Here are two charts showing supply/demand balances from the IEA (released today) and the EIA (released last week: First is the IEA... Note the
Supply/Demand balances… OPEC
From OPEC’s Monthly Oil Report, released earlier today, here are supply/demand balances for 2020 and 2021...
EIA’s Supply/Demand Balance… EIA
From This Week In Petroleum, the EIA highlights demand revisions from its Short Term Energy Outlook: ”EIA revised down global GDP in the October
Oil Market’s Aviation Problem… WSJ
Joe Wallace, Wall Street Journal, discusses aviation demand or lack of it here... “Cars and trucks quickly returned to the road when officials lifted
Podcast: October 2020 Oil Market Analysis
Commodity Research Group (CRG) is an independent research consultancy specializing in base and precious metals, as well energy products. The Group
Option update…
From the CME’s excellent Most Active Strike tool, options trading was characterized by high volume and put and call liquidation...
The Permian Implosion… The Economist
Here is a chart from The Economist showing the sharp decline in active rigs in the Permian... The Economist notes: ”Yet besides Chevron’s $5bn bid
Oil prices… Reuters
I’m not sure how much gasoline/diesel is used in the President’s motorcade but here is Reuter’s on why prices rallied: ”Oil prices gained on
Options update…
While not as dramatic as April's explosion in vol, WTI implied vol settled over 50% on Friday... Here is an updated chart... Volume picked up in