Oil Buyers Guide

Brent Red-Spread Flips Into Contango

September 9, 2014

By Grant Smith The difference between December 2014, and December 2015 Brent contracts, also known as the grade’s “red spread,” swung into contango yesterday, exchange data compiled by Bloomberg showed. December 2015 Brent contracts were trading at a 28-cent a barrel premium to December 2014. The 2015 contract was last at a

OPEC Content to Sit and Wait on U.S. Oil

September 2, 2014

BY CHRISTOPHER SELL, BLOOMBERG BRIEF EDITOR It is “business as usual” for OPEC in the face of potential U.S. crude exports into the international market for the first time in 30 years. In an interview with Bloomberg Brief: Oil Buyer’s Guide, OPEC Secretary-General Abdalla Salem El-Badri said there needs to be more clarity

Petrobras Best Oil Bet, Seen Supported by Elections

August 26, 2014

Petrobras, the best-performing major oil stock in the past six months, could extend the gain by as much as 30 percent if either of the two main presidential opponents prevail in Brazil’s October presidential elections, according to Teorica Investimentos. — Peter Millard and Julia Leite This chart was taken from the Bloomberg

China’s Imports of Russian Fuel Oil at Five-Year Seasonal Low

August 19, 2014

China second quarter fuel oil imports from Russia have fallen to their lowest level since 2009, according to customs data. Imports have dropped to an average of around 141,000 metric tonnes a month. -By Winnie Zhu This chart was taken from the Bloomberg Brief Oil Buyer’s Guide. To take a complimentary 30 day trial

Cushing Outflow Declines From Last Week, According to Genscape Data

August 12, 2014

Pipeline outflow from Cushing, Oklahoma,“fell steeply” last week as the TransCanada Gulf Coast pipeline carried less crude from the storage hub to the Gulf coast, Genscape said yesterday in a report sent to Bloomberg. Total outflow from Cushing fell last week by an average of 198,712 barrels a day, according to Genscape data that reflects flows

Petrobras May Miss Offshore Output Target

August 5, 2014

Petroleo Brasileiro SA’s chances of meeting output targets for the first time in a decade are fading as new oil platforms ramp up production at a slower pace than projected. Petrobras forecasted last year its production would start increasing in the fourth quarter as nine new platforms added a million barrels a day

China Oil Stocks Beat Hang Seng Amid Capex Cuts, Reforms

July 29, 2014

Bloomberg Intelligence’s China oil and gas index has beaten the Hang Seng Index by 9.8 percent so far this year. In March PetroChina and Sinopec announced reduced capex plans and better-than-expected 2013 gas prices. Greater private capital and the implementation of reforms may also boost returns even amid flat oil prices and slower

Exxon Momentum Slows, Volume Declines

July 22, 2014

After suffering a heavy correction in January of this year, Exxon has resumed its rally and has reached higher highs. Chart trendlines show momentum has now slowed. Price seems to have hit resistance and while continuing to make higher lows, looks to be consolidating. Volume, shown in the lower panel, is decreasing, supporting

Exxon Mobil RSI Signals Upward Channel May Be Broken

July 15, 2014

Exxon Mobil has been in an upward trend channel since the middle of April. However, the Relative Strength Index shows some cause for concern of a change. There is divergence with the RSI making lower highs while price has made higher highs. So far, RSI has found support at the bullish 40 level

Lukoil Formed Market Top and Sends Bearish Technical Signals

July 1, 2014

Lukoil OAO is entering a downtrend after having just formed a market top. The price and RSI indicator both break out from support levels, and the RSI also fails to find support at the bearish overbought range. The Vortex Indicator is also starting to converge to form a bearish signal. Expect continued downward