VBIN's oil stock thread.

[fenders53]

(01-03-2022, 12:03 PM)EricL Wrote: TWEET

Quote:Alexander Stahel
@BurggrabenH
·
2h
The global crude inventory declines by 16.4mb last week, AGAIN. That is 2.3 million barrels per day!

Add in outages in Libya and Colombia and OPEC coming nowhere close to meeting their quotas.

Mexico also announced that they plan to ban crude exports in 2023.

2022 is going to be an interesting year in the energy markets.

It will be.  Somebody is going to drill or frack, but it won't likely be enough to matter much until at least late in the year.  (Let's hope it's EOG lol)  Covid is absolutely going to slow things down for the next few months.  If inventories don't recover now it's trouble.  As long as oil doesn't get so high to hurt the economy I'm good.  Otherwise we just lose the money elsewhere in our ports.