怎样看懂彩票走势图


Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
How Sony Is Fueling the Computer Vision Boom - 3rd Aug 20
Computer Gaming System Rig Top Tips For 6 Years Future Proofing Build Spec - 3rd Aug 20
Cornwwall Bude Caravan Park Holidays 2020 - Look Inside Holiday Resort Caravan - 3rd Aug 20
UK Caravan Park Holidays 2020 Review - Hoseasons Cayton Bay North East England - 3rd Aug 20
Best Travel Bags for 2020 Summer Holidays , Back Sling packs, water proof, money belt and tactical - 3rd Aug 20
Precious Metals Warn Of Increased Volatility Ahead - 2nd Aug 20
The Key USDX Sign for Gold and Silver - 2nd Aug 20
Corona Crisis Will Have Lasting Impact on Gold Market - 2nd Aug 20
Gold & Silver: Two Pictures - 1st Aug 20
The Bullish Case for Stocks Isn't Over Yet - 1st Aug 20
Is Gold Price Action Warning Of Imminent Monetary Collapse - Part 2? - 1st Aug 20
Will America Accept the World's Worst Pandemic Response Government - 1st Aug 20
Stock Market Technical Patterns, Future Expectations and More – Part II - 1st Aug 20
Trump White House Accelerating Toward a US Dollar Crisis - 31st Jul 20
Why US Commercial Real Estate is Set to Get Slammed - 31st Jul 20
Gold Price Blows Through Upside Resistance - The Chase Is On - 31st Jul 20
Is Crude Oil Price Setting Up for a Waterfall Decline? - 31st Jul 20
Stock Market Technical Patterns, Future Expectations and More - 30th Jul 20
Why Big Money Is Already Pouring Into Edge Computing Tech Stocks - 30th Jul 20
Economic and Geopolitical Worries Fuel Gold’s Rally - 30th Jul 20
How to Finance an Investment Property - 30th Jul 20
I Hate Banks - Including Goldman Sachs - 29th Jul 20
NASDAQ Stock Market Double Top & Price Channels Suggest Pending Price Correction - 29th Jul 20
Silver Price Surge Leaves Naysayers in the Dust - 29th Jul 20
UK Supermarket Covid-19 Shop - Few Masks, Lack of Social Distancing (Tesco) - 29th Jul 20
Budgie Clipped Wings, How Long Before it Can Fly Again? - 29th Jul 20
How To Take Advantage Of Tesla's 400% Stock Surge - 29th Jul 20
Gold Makes Record High and Targets $6,000 in New Bull Cycle - 28th Jul 20
Gold Strong Signal For A Secular Bull Market - 28th Jul 20
Anatomy of a Gold and Silver Precious Metals Bull Market - 28th Jul 20
Shopify Is Seizing an $80 Billion Pot of Gold - 28th Jul 20
Stock Market Minor Correction Underway - 28th Jul 20
Why College Is Never Coming Back - 27th Jul 20
Stocks Disconnect from Economy, Gold Responds - 27th Jul 20
Silver Begins Big Upside Rally Attempt - 27th Jul 20
The Gold and Silver Markets Have Changed… What About You? - 27th Jul 20
Google, Apple And Amazon Are Leading A $30 Trillion Assault On Wall Street - 27th Jul 20
This Stock Market Indicator Reaches "Lowest Level in Nearly 20 Years" - 26th Jul 20
New Wave of Economic Stimulus Lifts Gold Price - 26th Jul 20
Stock Market Slow Grind Higher Above the Early June Stock Highs - 26th Jul 20
How High Will Silver Go? - 25th Jul 20
If You Own Gold, Look Out Below - 25th Jul 20
Crude Oil and Energy Sets Up Near Major Resistance – Breakdown Pending - 25th Jul 20
FREE Access to Premium Market Forecasts by Elliott Wave International - 25th Jul 20
The Promise of Silver as August Approaches: Accumulation and Conversation - 25th Jul 20
The Silver Bull Gateway is at Hand - 24th Jul 20
The Prospects of S&P 500 Above the Early June Highs - 24th Jul 20
How Silver Could Surpass Its All-Time High - 24th Jul 20
China Recovered in Q2. Will the Red Dragon Sink Gold? - 23rd Jul 20
UK Covid19 MOT 6 Month Extensions Still Working Late July 2020? - 23rd Jul 20
How Did the Takeaway Apps Stocks Perform During the Lockdown? - 23rd Jul 20
US Stock Market Stalls Near A Double Peak - 23rd Jul 20
Parking at Lands End Car Park Cornwall - UK Holidays 2020 - 23rd Jul 20
Translating the Gold Index Signal into Gold Target - 23rd Jul 20
Weakness in commodity prices suggests a slowing economy - 23rd Jul 20
This Stock Market Stinks - But Not Why You May Think - 22nd Jul 20
Protracted G7 Economic Contraction – or Multiyear Global Depression - 22nd Jul 20
Gold and Oil: Be Aware of the "Spike" - 22nd Jul 20
US Online Casino Demographics: Who Plays Online For Money? - 22nd Jul 20
Machine Intelligence Quantum AI Stocks Mega-Trend Forecast 2020 to 2035! - 21st Jul 20
How to benefit from the big US Infrastructure push - 21st Jul 20
Gold and gold mining stocks are entering a strong seasonal phase - 21st Jul 20
Silver Eyes Key Breakout Levels as Inflation Heats Up - 21st Jul 20
Gold During Coronavirus Recession and Beyond - 21st Jul 20
US Election 2020: ‘A Major Bear Market of Political Decency’ - 21st Jul 20
Summertime Sizzle for Gold and Silver - 21st Jul 20
Overclockers UK Custom Built PC Review - Delivery and Unboxing (3) - 21st Jul 20
Will Coronavirus Vaccines Become a Bridge to Nowhere? - 20th Jul 20
Stock Market Time for Caution?  - 20th Jul 20
ClickTrades Review - The Importance of Dynamic Analysis and Educational Tools in Online Trading - 20th Jul 20
US Housing Market Collapse Second Phase Pending - 20th Jul 20
Capitalising on the AI Mega-trend - 20th Jul 20
Getting Started with Machine Learning - 20th Jul 20
Why Moores Law is NOT Dead! - 20th Jul 20
Help the Economy by Going Outside - 19th Jul 20
Stock Market Fantasy Finance: Follow the Money - 19th Jul 20
Did the Stock Market Bubble Just Pop? - 19th Jul 20
Quick Souring of the S&P 500 Stock Market Mood - 19th Jul 20
The Six-Year Jobs Recession - 19th Jul 20
Silver Demand Exploding! - 18th Jul 20
Tesco Scraps Covid Safe One Way Arrow Supermarket Shopping System - 18th Jul 20
The Rise of Online Pawnbroking - 17th Jul 20
Gold Rallies Together With U.S. Covid-19 Cases - 17th Jul 20
Gold & Silver Measured Moves - 17th Jul 20
The Bizarre Mathematics Of How Negative Interest Rates Create Stratospheric Profits - 17th Jul 20
From a Stocks Bull Market Far, Far Away, Virus Doomsday Scenerio! - 16th Jul 20
Fiscal Cliffs and the Self-destructing Treasury - 16th Jul 20
Dow Stock Market Crash Watch - Update - 16th Jul 20
Gold & Silver Gaining on US Dollar Weakness - 16th Jul 20
How to Find the Best Stocks to Invest In - 16th Jul 20
Overclockers UK Custom Build PC Review - 2. System Build Changes Communications - 16th Jul 20

Market Oracle FREE Newsletter

Crude Oil Cuts Get Another Saudi Boost as Oil Demand Begins to Show Signs of Life

Commodities / Crude Oil May 27, 2020 - 11:42 AM GMT

By: The_Energy_Report

Commodities

Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit, reports McAlinden Research.

Saudi Arabia enhanced their commitment to OPEC+ supply cuts as the Kingdom said they'd shut production of additional 1 million barrels of crude oil per day next month. Most of the OPEC+ countries have already come close to compliance with the deal that took effect this month and cuts from non-member states like Norway, Brazil, Canada, and the US are compounding the already steep curbs on production. Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit.


Crude Cuts Continue to Deepen

怎样看懂彩票走势图As part of its latest efforts to reign in the global glut of crude oil, Saudi Arabia's energy ministry ordered the Kingdom's oil giant Aramco to reduce its crude oil production in June "by an extra voluntary amount of one million barrels per day (bpd), in addition to the reduction committed by the Kingdom in the latest OPEC+ agreement," the official Saudi Press Agency reported.

怎样看懂彩票走势图The 23-country OPEC/non-OPEC coalition known as OPEC+ agreed to cut output by 9.7 million bpd for two months from an agreed baseline level starting May 1. These countries will also cut 7.7 million bpd between July and December and 5.8 million bpd from January 2021 to April 2022.

Under this OPEC+ deal, Saudi Arabia has pledged to cut its oil production to 8.5 million bpd, beginning this month. With the voluntary additional reduction in June, the Saudis would produce 7.492 million bpd next month, down from more than 12 million bpd in April.

怎样看懂彩票走势图Russia, also committed to the OPEC+ syndicate, saw oil output fall to 8.75 million bpd in the first 5 days of May, just shy of the 8.5 million bpd target set for this month and next.

However, as executive director of the International Energy Agency (IEA) Faith Birol recently stated, non-OPEC+ reductions in output "may well be similar to reductions that will be coming from OPEC+ throughout the year… We are not yet there but we seeing some [production cuts] already." Cuts from non-OPEC+ partners industries, such as Brazil, Norway, Canada and the United States, the total reduction in supply could double global output curbs to around 20 million bpd when fully-implemented.

Norway, Europe's largest oil producer, said it would cut production by 250,000 bpd in June and by 134,000 bpd in the second half of the year.

怎样看懂彩票走势图Brazil's Petrobras initially reduced output by 200,000 bpd, which accounts for 20% of Brazil oil exports, after shutting down production at 62 offshore platforms last month. However, those cuts .

怎样看懂彩票走势图The most significant non-OPEC market to watch, however, is North America where crude oil output is set to fall by 1.7 million bpd in June, which would mark a decrease of about 10% from its all-time high in March.

Analysts have estimated Canada may need to shut-in about 1 million to 1.5 million barrels of oil per day, from an average daily production of about 4 million bpd in 2019. Given the lack of crude demand coupled with low Canadian pricing and little in the way of extra storage capacity, "it is hard for us to fathom how Western Canadian crude production can avoid a ~1 million+ bbl/d drop in output in the coming weeks," Stifel FirstEnergy analyst Michael Dunn told clients in a note.

US Energy Secretary Dan Brouillette said in April that the department expected US production to drop by 2 to 3 million bpd by year-end without any government-enforced cuts. The number of active oil rigs decreased last week by 33 rigs, according to Baker Hughes data, bringing the total to 292 — a 513-rig loss year over year. It is the fewest number of active oil rigs since late 2009.

怎样看懂彩票走势图The heaviest reductions are coming from Texas, the largest US producing-state, with 5 million bpd of output. Texas output is likely to drop by 20%, or 1 million barrels, by the end of May, Karr Ingham, executive vice president of the Texas Alliance of Energy Producers, told Reuters. "Operators are shutting in anywhere from 20% to 50%, and some more than that, based on what they think they can get to market," Ingham said.

Signs of Life

While positive stories in crude markets have been few and far between, glimmers of hope have begun popping up around the world.

Crude inventories in China, the world's largest buyer of oil, have shrunk in recent weeks after rising to record levels, according to analysts and satellite observations. "The trend in April was a net withdrawal driven by higher refinery runs and lucrative margins," said Yao Li, chief executive officer of consultancy SIA Energy, which estimated inventories fell by 9.5 million barrels in April after growing by 161 million in the first quarter.

怎样看懂彩票走势图Though inventories have yet to enter a decline, the actual increases in storage have certainly begun to slow. Crude builds peaked in mid-April at more than 19 million barrels, .

怎样看懂彩票走势图Shrinking inventories are even more critical than production cuts in today's oil industry. Inventory numbers will be the primary evidence for the effectiveness of the cuts by illustrating an increasing or decreasing balance of supply and demand.

The main catalyst in April's unprecedented oil collapse that sent prices into negative territory for the first time ever was actually lack of storage above all else. At the time, MRP wrote that the negative pricing could be more so chalked up to a short-term inefficiency in the rolling over of the May WTI contract on the crude futures market, resulting in the United States Oil Fund LP (USO), who owned 25% of all outstanding shares in the contract, not actually having facilities to accept or store physical barrels of crude as any other crude processing or storage facility were already overflowing. Therefore, the only way for the USO to rid themselves of their newfound oil barrels was to offer compensation to take it off their hands.

One of the most positive demand-side developments has been the increasing use of cars, as opposed to public transit, in the age of COVID.

Subway ridership , according to data compiled by BloombergNEF, as fears of large crowds push commuters toward the relative isolation of cars.

Bloomberg writes that this pattern can be observed across the world:

In Berlin, among the first European cities to relax its lockdown, public transit use remains down 61% while the number of people driving has recovered to 28% below normal, according to data from Apple Inc., which tracks request for directions on its popular Maps app.

怎样看懂彩票走势图In Madrid, driving is only 68% below normal levels, up from about 80% in April, while use of public transport remains down 87%, largely the same level as last month.

The same is occurring in Ottawa, the Canadian capital, where driving directions on the app have recovered to 40% of normal levels, up from a decline of 60% in April, while directions for mass transit remain flat from April at 80% below normal levels.

Apple Maps data for 27 world cities shows that driving directions are recovering more quickly than directions for mass transit.

In the U.S., gasoline consumption is clawing back from record lows, rising by 400,000 barrels a day during the week ended May 1. Cities in Florida, one of the first American states to re-open, has seen fuel sales rebound to 30% below normal levels, from 50% weeks ago, according to the Florida Petroleum Marketers Association.

Oil demand will certainly not be what it was in prior years for some time, but the use of automobiles could play a significant role in drawing down gasoline inventories and allowing refiners to start processing new crude oil orders. The amount of total motor gasoline in storage, per EIA data, accounts for the largest share of finished crude and petroleum product inventories, .

Long-Term Supply Shortage?

怎样看懂彩票走势图Some may say it's a bit early to be thinking about the long-term implications of all of these production shutdowns, but it is important to note that there are undoubtedly going to be some negative side effects to such a cataclysmic disruption.

怎样看懂彩票走势图Though Goldman Sachs is . Effectively, the Investment Bank expects supply to be suppressed for some time as, not only does shutting in oil wells damage their output capacity and take work to get them back online, but declines in capital expenditure and access to capital will suppress new exploration and drilling for some time. A combination of poor returns means people are unlikely to line up capital to work in this space, according to Goldman's head of global commodities research, Jeff Currie. "Now investors do not want to hear anything about oil. They have been beaten up they are done with this space, it is going to take a lot for them to come back."

Oilprice.com writes that investments in exploration and new production are set to be delayed because companies are looking to preserve cash and avoid cutting dividends–something oil majors Equinor and Shell just did. So, global investments and project sanctioning activity are already drying up this year.

怎样看懂彩票走势图Due to the oil price crash, Rystad Energy expected at the end of March that exploration and production (E&P) companies were likely to reduce project sanctioning by up to $131 billion, or down about 68% on the year, compared to $192 billion in projects approved in 2019.

Muted investment levels and new project activity will combine with the rebound in global oil demand once the coronavirus crisis is over to swing the global oil market into a potential oil supply deficit of some 5 million bpd, according to Rystad Energy's latest estimates. Oil prices would top $68 a barrel to balance the market, the consultancy said.

MRP continues to believe these early supply-side measures taken by oil producing nations are a sign of more measures to come, holding the market over until sufficient demand can return. We also believe that the most well-positioned firms to withstand the intermediate period will be large-scale operators with diversified, productive assets.

We will continue to track these themes with the United States Oil Fund, LP (USO) and Energy Select Sector SPDR Fund (XLE). Since we launched the theme on April 7, the USO is has unsurprisingly declined a steep 48%. However, the XLE has actually garnered a 19% return over the same period, outperforming the S&P 500's 10% gain.

This content was delivered to McAlinden Research Partners clients.. To receive all of MRP's insights in your inbox Monday - Friday,

(MRP) provides independent investment strategy research to investors worldwide. The firm's mission is to identify alpha-generating investment themes early in their unfolding and bring them to its clients' attention. MRP's research process reflects founder Joe McAlinden's 50 years of experience on Wall Street. The methodologies he developed as chief investment officer of Morgan Stanley Investment Management, where he oversaw more than $400 billion in assets, provide the foundation for the strategy research MRP now brings to hedge funds, pension funds, sovereign wealth funds and other asset managers around the globe.

Disclosure: 怎样看懂彩票走势图 1) McAlinden Research Partners disclosures are below. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal . This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

McAlinden Research Partners: This report has been prepared solely for informational purposes and is not an offer to buy/sell/endorse or a solicitation of an offer to buy/sell/endorse Interests or any other security or instrument or to participate in any trading or investment strategy. No representation or warranty (express or implied) is made or can be given with respect to the sequence, accuracy, completeness, or timeliness of the information in this Report. Unless otherwise noted, all information is sourced from public data.

McAlinden Research Partners is a division of Catalpa Capital Advisors, LLC (CCA), a Registered Investment Advisor. References to specific securities, asset classes and financial markets discussed herein are for illustrative purposes only and should not be interpreted as recommendations to purchase or sell such securities. CCA, MRP, employees and direct affiliates of the firm may or may not own any of the securities mentioned in the report at the time of publication.


© 2005-2019 http://ijr65qh.cn - The Market Oracle is a FREE Daily 怎样看懂彩票走势图Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

手机棋牌输了几百万 怎么样进入赌单双软件 怎么购买手机赌博软件 我爱彩票邀请码是多少 手机新澳门棋牌官网 快钱彩票官网 快乐棋牌游戏 手机版彩票过滤工具 怎么下载波克棋牌 我想查查彩票开奖结果