All publications by tag «USA»
U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.
API - “Instead of utilizing a transparent decision-making process that provided room for input from key stakeholders, the administration continues to take serious missteps in the trade arena that could undermine American jobs and America’s role on the global energy stage. Trade wars with key trading partners will be detrimental to the U.S. economy and consumers.”
PLATTS - Since the US dropped all limits on crude exports in 2015, China has competed with Canada as the top buyer of US crude. US crude exports to China averaged over 358,000 b/d in the first quarter, up from nearly 175,000 b/d in Q1 2017. US crude's market share in China rose to 3.5% from 0.4% over the same period.
EIA - Crude oil production from the major US onshore regions is forecast to increase 141,000 b/d month-over-month in June from 7,198 to 7,339 thousand barrels/day , gas production to increase 1,135 million cubic feet/day from 68,624 to 69,759 million cubic feet/day .
WNN - Framatome's accident-tolerant fuel (ATF) is now being tested in the Advanced Test Reactor (ATR) at Idaho National Laboratory, the US Department of Energy (DOE) has announced. The fuel is being developed through a US Department of Energy programme which aims to commercialise ATF by 2025.
IMF - Within the next few years, the U.S. economy is expected to enter its longest expansion in recorded history. The Tax Cuts and Jobs Act and the approved increase in spending are providing a significant boost to the economy. We forecast growth of close to 3 percent this year but falling from that level over the medium-term. In my discussions with Secretary Mnuchin he was clear that he regards our medium-term outlook as too pessimistic. Frankly, I hope he is right. That would be good for both the U.S. and the world economy.
IMF - The near-term outlook for the U.S. economy is one of strong growth and job creation. Unemployment is already near levels not seen since the late 1960s and growth is set to accelerate, aided by a near-term fiscal stimulus, a welcome recovery of private investment, and supportive financial conditions. These positive outturns have supported, and been reinforced by, a favorable external environment with a broad-based pick up in global activity. Next year, the U.S. economy is expected to mark the longest expansion in its recorded history. The balance of evidence suggests that the U.S. economy is beyond full employment.
U.S. FRB - Industrial production edged down 0.1 percent in May after rising 0.9 percent in April. Manufacturing production fell 0.7 percent in May, largely because truck assemblies were disrupted by a major fire at a parts supplier. Excluding motor vehicles and parts, factory output moved down 0.2 percent. The index for mining rose 1.8 percent, its fourth consecutive month of growth; the output of utilities moved up 1.1 percent. At 107.3 percent of its 2012 average, total industrial production was 3.5 percent higher in May than it was a year earlier. Capacity utilization for the industrial sector decreased 0.2 percentage point in May to 77.9 percent, a rate that is 1.9 percentage points below its long-run (1972–2017) average.
BAKER HUGHES A GE - U.S. Rig Count is down 3 rigs from last week to 1,059, with oil rigs up 1 to 863, gas rigs down 4 to 194 and miscellaneous rigs unchanged at 2. Canada Rig Count is up 27 rigs from last week to 139, with oil rigs up 18 to 87 and gas rigs up 9 to 52.
REUTERS - OPEC and U.S. representatives have met at least twice this year, with a third high-profile meeting set for Vienna next week. Finding the optimal balance of crude supply and demand will be the hot topic.