“Goldilocks Has Left The Building": Citigroup Goes Medieval On The Energy Sector

“Goldilocks Has Left The Building": Citigroup Goes Medieval On The Energy Sector

FOREX, 5 digit dollar, EUR/USD

EIA Petroleum Status Report - 10:30 am

 

Highlights

Unusually large product builds headline the weekly petroleum status report that otherwise shows a 3.1 million barrel draw in oil inventories to 382.4 million for the January 2 week. In contrast, gasoline inventories increased by 8.1 million barrels with distillate inventories up by 11.2 million. Products supplied to the wholesale sector over the last 4 weeks have been very heavy with gasoline up a year-on-year 5.5 percent and distillates up 7.2 percent. The levels of product inventories point ahead to decreasing refinery production and easing demand for oil. WTI is down nearly $1 to $47.75 in initial reaction to today's report. 

Definition

The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.  Why Investors Care

US vs. Saudi relationship, Crude, Oilfield writedowns, drilling, fracking, Energy profits, War, Global production stats, 2014

http://www.cbc.ca/news/world/new-questions-raised-about-u-s-saudi-relationship-1.2890528

http://www.bloomberg.com/news/2015-01-05/oilfield-writedowns-loom-as-market-collapse-guts-drilling-values.html

http://www.theautomaticearth.com/this-oil-thing-is-the-real-deal/

Energy conflicts and differential profits: an update

http://davidstockmanscontracorner.com/inside-the-oil-price-crash-vital-global-production-statistics-january-2015/

http://www.viralglobalnews.com/u-s/u-s-steel-corp-to-lay-off-614-workers-in-ohio-and-142-in-texas-due-to-oil-prices/27374/

David Stockman article 1981 - The Atlantic - link

http://www.theatlantic.com/magazine/archive/1981/12/the-education-of-david-stockman/305760/

The streak is over - h/t Kimble Charting

The streak is over;

Longest streak in 87 years looks to end today

Crude Oil, Energy Crisis As Early As 2016, YouTube video of fracking operation

Energy Crisis As Early As 2016

World Sets New Oil Production and Consumption Records from Energy Trends Insider

From the EIA - 2012 data

Above data from the EIA -

Debt owed by the public, January 5, 2015

The Real Cause Of Low Oil Prices: Interview With Arthur Berman - NC, Crude Oil

https://www.blogger.com/blogger.g?blogID=6511218075306959286#editor