Analysis
![Analysis](/cache/05-21/oil-89.0c0d7f7b.jpg)
2021, May, 13, 17:50:00
U.S. OIL INVENTORIES DOWN 0.4 MB TO 484.7 MB
U.S. commercial crude oil inventories decreased by 0.4 million barrels from the previous week to 484.7 million barrels,
![Analysis](/cache/05-21/usa-376.40bc9232.jpg)
2021, May, 13, 17:20:00
U.S. GDP UP 6.4%
Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021
![Analysis](/cache/05-21/usa-377.2d2558a5.jpg)
2021, May, 13, 17:15:00
U.S. INTERNATIONAL TRADE DEFICIT UP TO $74.4 BLN
The U.S. goods and services deficit was $74.4 billion in March, up $3.9 billion from $70.5 billion in February
![Analysis](/cache/05-21/price-252.01d5b9d0.jpg)
2021, May, 12, 13:05:00
OIL PRICE: NEAR $69
Brent climbed 18 cents, or 0.3% to $68.73 a barrel. WTI rose 20 cents, or 0.3%, to $65.48.
![Analysis](/cache/05-21/price-229.cb32d0cd.jpg)
2021, May, 12, 13:00:00
OIL PRICES 2021-22: $65-61
EIA forecasts that Brent prices will average $65/b in the second quarter of 2021, $61/b during the second half of 2021, and $61/b in 2022.
![Analysis](/cache/05-21/oil-84.9e87e234.jpg)
2021, May, 12, 12:55:00
OIL DEMAND WILL UP BY 6.5 MBD
"Under the current OPEC+ production scenario, supplies won't rise fast enough to keep pace with the expected demand recovery," the IEA said. "The widening supply and demand gap paves the way for a further easing of OPEC+ supply cuts or even sharper stock draws."
![Analysis](/cache/05-21/libya-46.3481db48.jpg)
2021, May, 12, 12:50:00
LIBYA'S OIL PRODUCTION 1.168 MBD
Libya pumped 1.12 million b/d in April, a fall of 70,000 b/d from March.
![Analysis](/cache/05-21/philippines-2.c1a928f3.jpg)
2021, May, 12, 12:45:00
PHILIPPINES LNG: $14 BLN RISK
“Officials in the Philippines have endorsed a rapid buildout of LNG import infrastructure due to the anticipated depletion of the Malampaya deepwater development, the country’s only domestic source of natural gas, and high GDP growth expected over the next decade,”
![Analysis](/cache/05-21/storage-4.56720067.jpg)
2021, May, 12, 12:35:00
INDIA'S ENERGY STORAGE MARKET
Currently, renewables form 10% of India’s total power generation and that share will increase to 31% by 2030 with 450GW coming online.
![Analysis](/cache/05-21/hydrogen-186.5672db91.jpg)
2021, May, 12, 12:25:00
HYDROGEN ECONOMY & CCS
The gist of the technical case for CCS in a hydrogen economy is that, so long as fossil fuels are available and deliver a high energy return on energy invested (EROEI), it is inherently cheaper and more efficient to produce hydrogen from fossil fuels by reforming, rather than by electrolysis of water.
![Analysis](/cache/05-21/rig-222.add45951.jpg)
2021, May, 12, 12:20:00
U.S. RIGS UP 8 TO 448
U.S. Rig Count is up 8 from last week to 448, Canada Rig Count is up 4 from last week to 55,
![Analysis](/cache/05-21/price-334.94fc69ce.jpg)
2021, May, 7, 15:00:00
OIL PRICE: NEAR $68
Brent fwere up 1 cent at $68.12 a barrel. WTI eased by 2 cents to $64.69.
![Analysis](/cache/05-21/price-328.ed8d3c7d.jpg)
2021, May, 7, 14:55:00
OPEC+ OVERPRODUCTION 3.3 MBD
Russia, the largest non-OPEC partner in the alliance, has increasingly flouted its cap over the last several months, with its excess production soaring to 877,000 b/d.
![Analysis](/cache/05-21/rig-221.3dee6e5d.jpg)
2021, May, 7, 14:35:00
WORLDWIDE RIG COUNT DOWN 43 TO 1,189
The Worldwide Rig Count for April was 1,189, down 43 from the 1,231 counted in March 2021
![Analysis](/cache/05-21/price-326.ac226055.jpg)
2021, May, 6, 13:40:00
OIL PRICE: NEAR $70 ANEW
Brent fell by 28 cents, or 0.4%, to $68.68 a barrel. WTI lost 31 cents, or 0.5%, to $65.32 a barrel.