Oil Markets Looking to Recover

Keith Kohl

Written By Keith Kohl

Posted June 25, 2015

Yesterday’s Energy Information Administration announcement that crude oil inventories have dropped 4.9 million barrels did nothing for the price, which dropped again nonetheless.

But look on the bright side of things: we’re cutting supply even as production rises and demand soars!

EIA numbers show that crude oil production is up to about 9.604 million barrels per day, aiming for 10 mbpd by the end of 2015. And our supplies going to refineries — including natural gas plant liquids, ethanol fuels, and other biofuels — are headed for 16 million barrels per day in the same time frame.

US Net Oil Imports

Meanwhile, our refineries were at 94% usage, keeping our need for imported refined oil low. Our overall imports for oil and petroleum products are headed for 4 mmbpd, down from 5 mmbpd in 2014 and 12.5 mmbpd in our peak import year, 1995.

Of course, that’s not to mention that demand for petroleum products has also jumped 7.2% year-over-year.

We need the oil, we’ve got the oil.

To continue reading…

Click here to read the Seeking Alpha article.

Angel Publishing Investor Club Discord - Chat Now

Keith Kohl Premium



Hydrogen Fuel Cells: The Downfall of Tesla?

Lithium has been the front-runner in the battery technology market for years, but that is all coming to an end. Elon Musk is against them, but Jeff Bezos is investing heavily in them. Hydrogen Fuel Cells will turn the battery market upside down and we've discovered a tiny company that is going to make it happen...

Sign up to receive your free report. After signing up, you'll begin receiving the Energy and Capital e-letter daily.