July 14, 2021 | Daily JAM |
The dispute over oil production quotas between Saudi Arabia and the United Arab Emirates that blew up the OPEC+ meeting two weeks ago looks to be over. Under the compromise, the UAE will see its baseline production level rise to 3.65 million barrels per day when the current pact expires in April 2022, a source told Reuters. The current baseline for the UAE was around 3.17 million barrels per day. In exchange the UAE agreed to a Saudi proposal to extend the April 2022 production agreement until December 2022.
July 7, 2021 | Daily JAM, Videos |
I’m starting up my videos on JubakAM.com again–this time using YouTube as a platform. The thirty-second YouTube video “OPEC and the threat to green energy stocks” went up today.
January 5, 2021 | Daily JAM |
Today, January 5, Saudi Arabia shocked OPEC+ with a voluntary 1-million-barrel-per-day output cut. The announcement came after OPEC and Russia agreed to allow a 75,000 barrels a day increase in total production from Russia and Kazakhstan in February and March. On the news U.S. benchmark West Texas Intermediate climbed 5.00% to $50 a barrel and international benchmark Brent gained 5.05% to $53.67 a barrel.
December 29, 2020 | Daily JAM |
Oil managed to close to the upside today, December 29, even though OPEC+ is set to add another 500,000 barrels a day to output starting in January.
November 16, 2020 | Daily JAM |
Maybe OPEC+ didn't get the memo--you know the one that says a coronavirus vaccine is just around the corner and growth in the global economy will be strong enough to spur higher demand for oil. Today, the Joint Technical Committee of OPEC+, OPEC plus Russia in general...
October 18, 2020 | Daily JAM, Saturday Night Quarterback |
... OPEC's Monday meeting to roil oil markets. Even if the meeting doesn't make any decision on supply. (Likely at the cartel's December 1 meeting of oil ministers. Tomorrow's meeting is of the Joint Ministerial Monitoring Committee, chaired by Saudi Arabian Energy...
June 17, 2020 | Daily JAM, Morning Briefing |
Inventories of gasoline and distillates fell last week, as they should even in a coronavirus-impacted summer driving season, the U.S. Energy Information Administration reported today. But crude inventories remained stubbornly high, an indication that the rise in...
May 20, 2020 | Daily JAM, Morning Briefing |
Remember how back on April 20 West Texas Intermediate traded at a negative $40.32 a barrel on the futures market? Then the fears were that anyone who owned a forward future and who was forced to accept delivery of that oil would not be able to find a place to store...
May 13, 2020 | Daily JAM |
It will take more than a year, and perhaps several years, for oil demand to recover to what it was before the coronavirus pandemic, said Fatih Birol, executive director of the International Energy Agency ahead of Thursday's update on energy markets. Crude demand of...
April 12, 2020 | Daily JAM, Friday Trick or Trend, Short Term |
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Sunday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. Do this...
April 7, 2020 | Daily JAM, Morning Briefing, Short Term |
The U.S. stock markets are closed on Friday, April 10, for Good Friday. That sets up a short week and a long weekend--which would be likely to produce higher than normal volume and volatility on Thursday anyway as traders and investors bought and sold to position...
April 4, 2020 | Daily JAM, Friday Trick or Trend |
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. A meeting...
