December 6, 2018 | Daily JAM, Mid Term |
Two important piece of news that form the context for OPEC's meeting today and its attempt to set global oil prices. First, the U.S. Energy Information Administration reported that the United States turned into a net exporter of oil last week for the first time in 75...
December 6, 2018 | Daily JAM, Short Term |
Even in the current context where countries announce major agreements but no one knows what the details might be, OPEC's decision to announce a cut in production without any agreement on the size of the cut or who will cut production by how much stands out. There is...
December 5, 2018 | Daily JAM |
Saudi Arabia, Russia and other members of what is known as OPEC+ recommended a cut in oil production today. The group's meeting ended without an agreement on the size of the proposed cut. But Russia did agree to participate in the production curbs for six months...
December 3, 2018 | Daily JAM, EQNR, FANG, PXD, Short Term |
As of 2:30 p.m. New York time U.S. benchmark West Texas Intermediate was up 3.04% to $52.48 a barrel. International benchmark Brent crude gained 2.84% to break back above $60 a barrel at $61.15. Part of the reason for the gain is a general sigh of relief that the...
November 30, 2018 | Daily JAM, Morning Briefing |
It's only an advisory group with no decision-making power, but the recommendation from the Organization of Petroleum Exporting Countries Economic Commission Board is the first step in changing production policy at OPEC & Friends. Today the group told OPEC oil...
November 19, 2018 | Daily JAM |
Monday was quite a day on the oil markets as contrary stories battled for control of prices. U.S. benchmark West Texas Intermediate traded at $56.41 a barrel at 8:30 a.m.. By 10:02 it was in the red at $55.31. Then it moved back into the black at $56.51 at 11:10 a.m....
November 18, 2018 | Daily JAM |
... volatility in asset classes that range from oil to stocks to the U.S. dollar, as traders and investors try to figure out how to "price in" a metric ton of macro uncertainty scheduled for the next three weeks. Enjoy turkey and family and friends the week because...
November 15, 2018 | Daily JAM, Morning Briefing, Short Term |
This is important--if very, very speculative--if you're trying to figure out if OPEC will cut production by enough to end the oil bear market when it holds its regular meeting on December 6. Today Reuters is reporting that Saudi Arabia is extremely angry at U.S....
November 12, 2018 | Daily JAM, Morning Briefing, Short Term |
Yesterday, Sunday, November 11, I wrote in my regular Saturday Night Quarterback post on JubakAM.com that news from Sunday's OPEC meeting that Saudi Arabia would cut 500,000 barrels a day from its oil production and exports in December might be enough to get more than...
October 9, 2018 | Daily JAM, Short Term, Volatility |
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...
October 3, 2018 | Daily JAM, Morning Briefing, Short Term |
Russia and Saudi Arabia have opened the taps, pumping an extra 1 million barrels a day of oil, and the two countries are making a big show of saying that they could do even more. But the oil market doesn't seem to care and oil prices keep climbing. As of 11:30 a.m....
September 24, 2018 | Daily JAM, Mid Term |
Today oil prices breached levels that have oil traders talking about $100 a barrel oil again on OPEC's decision at its weekend meeting not to boost oil production. U.S. benchmark West Texas Intermediate climbed 2.15% as of noon today, September 24, to move solidly...
