Daily Oil Fundamentals

OPEC+ Test the Waters of Demand

05 Aug 2025

OPEC+ Test the Waters of Demand

After the onslaught of data and news last week, yesterday’s considerations seemed sedate by comparison. The trading day was not without heft though, particularly for our market. The return of the 547kbpd balance of OPEC’s 2.2mbpd oil production cuts was not unexpected, but it sat heavy in a market where the out-of-season strength in Distillate has diminished and where the Gasoline market is not turning out to be the summer bastion of support. In the EIA inventory report last week, four-week implied demand average registered at under 9mb.

Daily Oil Fundamentals

Confusing Month, Even by Current Standards

04 Aug 2025

Confusing Month, Even by Current Standards

The corporate sector likes and demands certainty, predictability, and transparency. Without these, companies are unable to make sound investment decisions. In fact, they are legally required to be transparent themselves, and disseminating false or misleading information carries legal consequences.

Daily Oil Fundamentals

Honestly, Who Knows?

01 Aug 2025

Honestly, Who Knows?

After once again blowout results, not even the amazing sight of Microsoft joining Nvidia as a $4 trillion valued company and Apple joining Google as $2 trillion one can inspire the three houses of bourse power, the Dow, S&P and Nasdaq (or as some say, the three horses of the Apocalypse) to march on again to all-time highs. Meta, Microsoft, and Alphabet have spent $186 billion on capital expenditures over the past year, which amounts to nearly all the revenue of the S&P 500 companies.