Americas US Economy in Q2 2018 came in at +4.1% – a strong number. Consumer spending, net exports and business investment were all highlights, though half of the +1.1% contribution from net exports (imports versus exports) was considered to be the Chinese pre-paying for soybeans before tariffs went into…
Global Oil Production …looked at gains as major producers increased or maintained production while geopolitical tensions were relatively subdued. Libyan fighting took a breather and their export terminals and oil field productions sputtered forward. The four closed ports reopened and, for example, the El Feel oil field was producing close…
Oil Production Received a short-term shake-up as multiple events provoked oil and macro traders. First, Libyan fighting around the Ras Lanuf, Es Sider, al-Hariga and Zweitina oil terminals collapsed oil exports by 850,000 barrels per day (bpd) to 150,000 bpd or so. Also, the US announced their restart of sanctions…
Oil Production …globally looks to be returning to the upside as OPEC, Russia and other countries will contemplate adjustments at their next meeting on June 22nd. The signatories to the cutbacks that began in 2017 have succeeded in eliminating “excess” global inventories. Not only has economic mismanagement hit Venezuelan (and…