Contango is back

[nth]

ogarbitrage,

Thanks for your comments and source links! Very Interesting.. I've been following this.

nth

 

[ogarbitrage]

Russia's Urals oil exports seen surging in early January

Seaborne exports of Russian crude oil blend Urals will sharply increase in the first half of January thanks to a lower export duty, according to a preliminary schedule seen by Reuters.

Exports from the Baltic Sea port of Primorsk from Jan. 1-16 was seen at 1.8 million tonnes, up from 1.1 million tonnes in the same period of December.

Urals shipments from the neighbouring port of Ust Luga from Jan. 1-11 was expected to rise to 800,000 tonnes from 500,000 tonnes in the corresponding period this month.

The Black Sea port of Novorossiisk was set to export 1.265 million tonnes of Urals from Jan. 1-16, up from 680,000 tonnes.

Russia adds two Urals cargoes to preliminary loading plan for early Jan- traders

Russian oil firms Rosneft and Lukoil will export 240,000 tonnes of Urals crude from the ports of Primorsk and Ust-Luga in addition to a preliminary loading plan for the first days of January, traders told Reuters.

Rosneft will load a 100,000-tonne cargo of Urals crude URL-NWE-E from Primorsk on Jan. 2-3, while Lukoil will lift a 140,000-tonne vessel URL140-MED between Jan. 1-8.

Both cargoes were not listed in the preliminary loading plan, as of Dec. 15.

Mother Russia needs revenue.

 

[ogarbitrage]

Platts: China's oil conundrums: Rising crude demand and falling product imports

China turns net exporter of products as they quadruple their SPR.

 

[nth]

Platts: China's oil conundrums: Rising crude demand and falling product imports

China turns net exporter of products as they quadruple their SPR.

interesting!

 

[xandman]

Boone Pickens talks about previous times when US cut rig count.

http://www.cnbc.com/id/102291371

 

[ogarbitrage]

I wouldn't put much faith into Boone's predictions, personally. He's "talking his book" as they say.

 

[ogarbitrage]

Getting pretty steep:

 

[Maverick74]

Getting pretty steep:

Thnx for posting that. What are you hearing about Andrew Hall? Did he puke out all of his 2018, 19 20 stuff? I suspect he might be a size buyer at these levels on the long end of the curve.

 

[xandman]

A reversal is quite a wait. If we get significant bear rally like Sep, I will resume selling. Underlying is too scary for me, the Saudis might cry uncle. Your thoughts on the Middle East Producers?

 

[ogarbitrage]

I haven't heard anything since the Dec 10 Bloomberg article, but I imagine he has cut some of his length. If I hear anything different, I'll post.