Each week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 30 energy, energy service and pipeline & infrastructure companies with regular updates. We also hold quarterly…
April 1, 2021 EnergyNow Media
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 27 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL Alerts for paid subscribers.
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EIA Weekly Data: The EIA data on Wednesday March 31 was mixed. US lower 48 production rose by 200Kb/d to 10.7Mb/d and Total Domestic Production rose by 100Kb/d to 11.1Mb/d. Commercial Crude inventories fell by 0.9Mb, just above the consensus and was due to exports rising 693Kb/d or by 4.9Mb last week. Net Imports fell 170Kb/d or 1.2Mb on the week so we would have had a build this week if not for this stock movement. Motor Gasoline inventories fell by 1.7Mb due to stronger demand while Distillate volumes rose by 2.5Mb on the week as the weat