Title : The Market And Energy Page, T+326; Saudi Shenanigans -- Reason #45 Why I Love To Blog -- December 14, 2017
link : The Market And Energy Page, T+326; Saudi Shenanigans -- Reason #45 Why I Love To Blog -- December 14, 2017
The Market And Energy Page, T+326; Saudi Shenanigans -- Reason #45 Why I Love To Blog -- December 14, 2017
Some days there is just too much too post. Amazing how fast things seem to be moving.Economy: the economic news this morning was simply stunning. I will fill this in later when I get caught up, but the retail sales simply blew the socks off anyone really paying attention. Steven Liesman was one of those paying attention and he said he was unable to find such a huge month-over-month increase in retail sales as far back as he could look. I think he said he went as far back as 2004. CNBC has this story on retail sales: the increase in US retail sales for the month of October was almost triple was experts expected.
Trump gets no credit: after those numbers were released and comments about the great economy made, President Trump was not mentioned. Instead, CNBC immediately switch to Europe and suggesting that all of this was a global phenomenon, having nothing to do with the US president. It never quits. One can be sure had this happened under the Obama administration we would hear no end of his great policies.
Yellen: by they way, Steve Liesman, again CNBC, noted that with regard to the stock market, she said it was neither "red nor orange." As Liesman noted, there's only one color left and that's green. The stock market at this level does not scare "the Fed" (red), nor the stock market at this level lead "the Fed" to be cautious (orange), but rather, Liesman suggests that "the Fed" is suggesting US equities are enticing (green).
Gasoline demand. I posted the weekly petroleum report and the "gasoline demand" graph yesterday. Gasoline demand actually exceeded that for the same time period a year ago. But this was the headline story over at Reuters: oil slips as US gasoline stock build overshadows crude draw.
*********************************
Saudi Shenanigans
I talked about "Saudi shenanigans" and/or "Saudi smoke and mirrors" all through 2015 and 2016 when Saudi was talking about their surge, and then there "cuts" in production. In the big picture, the surge was a $1 trillion mistake and the cuts in production simply brought them back to where they were before the surge. I probably won't provide all the links but google search of the site will lead one to those posts.
Now, today, a reader sent me an Oilprice.com article that said the very same thing about "Saudi cuts." That article was full of interesting data, which I will come back to later, but for now this paragraph from the article:
More important than demand, however, was the November supply of OPEC oil, which declined by 133.5K to below 32.5 million bbl, a fresh six month low if only 195K bbl lower than last year's output, confirming that ahead of last year's production cut agreement, OPEC furiously ramped up production effectively offsetting the subsequent output limit.
**********************************************
Huge WTI-Brent Spread Boosts US Crude Oil Exports
Also at Oilprice.com, an update on US crude oil exports. One word: wow! But it's been previously posted on the blog: U.S. crude grades into China climbed to a record in November.
**********************************************
The White Butte Jore Federal Permits
This is just a reminder to myself to post my thoughts regarding the White Butte Jore Federal permits. This is a huge story, especially in light of the announcement this week that Oasis is selling its "non-core assets" in the Bakken to buy acreage in the Permian. The most recent post on these permits is at this post.
*****************************
GE Hitachi Nuclear Confirms North Carolina Layoffs
Incredible. I just pointed this out a couple of days ago. The Washington Post link is here. I talked about this at this post, "Reality of Renewables," December 12, 2017.
Thus Article The Market And Energy Page, T+326; Saudi Shenanigans -- Reason #45 Why I Love To Blog -- December 14, 2017
That's an article The Market And Energy Page, T+326; Saudi Shenanigans -- Reason #45 Why I Love To Blog -- December 14, 2017 This time, hopefully can give benefits to all of you. well, see you in posting other articles.
You are now reading the article The Market And Energy Page, T+326; Saudi Shenanigans -- Reason #45 Why I Love To Blog -- December 14, 2017 with the link address https://mylivemyidea.blogspot.com/2017/12/the-market-and-energy-page-t326-saudi.html
0 Response to "The Market And Energy Page, T+326; Saudi Shenanigans -- Reason #45 Why I Love To Blog -- December 14, 2017"
Post a Comment