VBIN's oil stock thread.

[fenders53]

And just like that oil is worthless again. Just kidding, but we do need some inspirational oil charts from Eric. Extra moons and rockets please! I'll be nibbling oil today.

[vbin]

(11-26-2021, 08:42 AM)fenders53 Wrote: And just like that oil is worthless again. Just kidding, but we do need some inspirational oil charts from Eric. Extra moons and rockets please! I'll be nibbling oil today.

This is the first time oil buyers have got together and tried to put out a symbolic message against the oil cartel by releasing oil from their strategic reserves together. That tells you how desperate the situation can get.

[EricL]

Why I remain bullish on energy for the long-term.

There will be ups and downs in prices, but demand for fossil fuel-derived energy won't be going away anytime soon.

   


Link to post with graph.

[fenders53]

Glad you bumped this thread with our new visitors. I don't know an investor that isn't bullish on energy for the long-term. It's necessary for civilization to advance so how could you not be? What does that statement mean to you?

[EricL]

Another big draw for oil this morning.

Quote:EIA

Summary of Weekly Petroleum Data for the week ending December 10, 2021

U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending December 10, 2021 which was 115,000 barrels per day less than the previous week’s average. Refineries operated at 89.8% of their operable capacity last week. Gasoline production increased last week, averaging 10.0 million barrels per day. Distillate fuel production decreased last week,averaging 4.8 million barrels per day.

U.S. crude oil imports averaged 6.5 million barrels per day last week, down by 28,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5million barrels per day, 15.4% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 499,000 barrels per day, and distillate fuel imports averaged 450,000 barrels per day. 

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.6 million barrels from the previous week. At 428.3 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year. Total motor gasoline inventories decreased by 0.7 million barrels last week and are about 6% below the five year average for this time of year. Finished gasoline inventories remained unchanged while blending components inventories decreased last week. Distillate fuel inventories decreased by 2.9 million barrels last week and are about 9% below the five year average for this time of year. Propane/propylene inventories decreased by 2.4 million barrels last week and are about 10% below the five year average for this time of year. Total commercial petroleum inventories decreased by 15.9 million barrels last week.

Total products supplied over the last four-week period averaged 21.3 million barrels a day, up by12.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.1 million barrels a day, up by 15.4% from the same period last year. Distillate fuel product supplied averaged 4.3 million barrels a day over the past four weeks, up by 11.2% from the same period last year. Jet fuel product supplied was up 27.3% compared with the same four-week period last year.

[vbin]

I bought back oxy, et and more XLE on the recent pull back.

[fenders53]

Although I believed the oil run had no chance early winter, size of pullback is no longer rational vs inventory. My new EOG position looks bad within days but hard not to add a little of something oil. Fundamentals look safe vs non oil stock valuations.

[vbin]

I added more oxy+ and XLE. Should have waited a bit, XLE is at $51 today.

[EricL]

Another big draw for crude oil in yesterday's report.

Quote:EIA

Summary of Weekly Petroleum Data for the week ending December 24, 2021 
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending December 24, 2021 which was 115,000 barrels per day less than the previous week’s average.Refineries operated at 89.7% of their operable capacity last week. Gasoline production increased last week, averaging 10.1 million barrels per day. Distillate fuel production increased last week,averaging 4.9 million barrels per day.

U.S. crude oil imports averaged 6.8 million barrels per day last week, increased by 0.6 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 13.7% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 432,000 barrels per day, and distillate fuel imports averaged 162,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.6 million barrels from the previous week. At 420.0 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year. Total motor gasoline inventories decreased by 1.5 million barrels last week and are about 6% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 1.7 million barrels last week and are about 14% below the five year average for this time of year. Propane/propylene inventories decreased by 3.6 million barrels last week and are about 10% below the five year average for this time of year. Total commercial petroleum inventories decreased by 18.9 million barrels last week.

Total products supplied over the last four-week period averaged 21.4 million barrels a day, up by12.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.3 million barrels a day, up by 17.1% from the same period last year. Distillate fuel product supplied averaged 4.1 million barrels a day over the past four weeks, up by 7.8% from the same period last year. Jet fuel product supplied was up 20.6% compared with the same four-week period last year.

[vbin]

Oil companies should be printing money at these levels, we should see debt reductions, buybacks, div increases.

[fenders53]

They seem to be leaning toward shareholders now so it should be good. I don't believe the shalers will remain disciplined for long, but there is room for them to up the supply some. We'll see who drills first.

[fenders53]

That EOG special dividend looks really nice posted in my account. It was a gift when shares dipped just a bit before the ex-date. Thanks Eric as I had no idea. And it goes ex-div again in about a week.