"The counterseasonal nature of the draw is also notable as we ought to be seeing builds on the back of fall refinery maintenance," the JCB analysts said. This reduction in stocks in the world's largest oil consumer has added to bullish sentiment that arose after the Organization of the Petroleum Exporting Countries (OPEC) proposed to cut or at least curb oil production. While many remain skeptical about OPEC's ability to strike and effectively implement a deal at a Nov. 30 meeting, the notion of coordination among the 14 member states has at least put a floor under Brent and WTI prices at around $50 a barrel.
Market Trends

United States Export Prices December of 2017

United States Export Prices December of 2017 US exports edged down 0.1 percent 0.5 percent rise in the previous month 14.4 percent slump in vegetable prices   Export Prices  – nonagricultural industrial supplies and materials and automotive vehicles decreased Prices for US exports edged down 0.1 percent month-over-month in December of 2017, following a 0.5 percent […]

In a message seemingly tailored to the Trump Administration’s focus on U.S. paramountcy, Mr. Girling also said the $8-billion (U.S.) pipeline project will strengthen U.S. energy security, support tens of thousands of direct and indirect jobs, and contribute approximately $3.4-billion to U.S. GDP. He noted that TransCanada employees live in 38 U.S. states where the Calgary-based firm operates, and the company is committed to working productively with stakeholders and tribal leaders. “The project is an important new piece of modern U.S. infrastructure that secures access to an abundant energy resource produced by a neighbour that shares a commitment to a clean and healthy environment,” Mr. Girling said. On Wednesday, Mr. Girling told an audience at the CIBC Whistler Institutional Investor Conference that the company has only just re-engaged with potential shippers to see if they’re still interested in committing to the project. Keystone XL was first envisioned in 2008, a time when crude oil prices topped $100 (U.S.) a barrel, and before Canadian oil producers faced intense competition from U.S. shale.
Market Trends

Canada Producer Prices Change in November

Canada Producer Prices Change in November Product Price Index IPPI rose 2.7 percent following a 1.7 percent gain in October higher prices for energy and petroleum products Canada Producer Prices  – In addition, cost advanced for primary non-ferrous metal product INSIGHT Canada Producer Prices The Industrial Product Price Index IPPI rose 2.7 percent over the […]