Explaining Saudi Arabia’s Oil Export Strategy

Saudi Arabia continues to keep the market informed about its stance on the OPEC production cut deal, with Khalid al-Falih’s latest guidance that Saudi would prefer to overtighten the market than exit early from cuts (channeling Neil Young’s ‘it’s bette…

Iraq Boosts Asian Oil Exports To New Record

We recently discussed Iraqi flows to the U.S., and how they continue to exhibit strength. Iraqi flows to the U.S. last year averaged just under 600,000 bpd, up a third from 2016’s volume. While January deliveries were robust, clambering above 700,000 b…

OPEC Crude Exports To The U.S. Remain Choppy

Back at the start of December, we discussed how Venezuelan crude deliveries to the U.S. were sliding, and particularly to Citgo refineries. December ended up being the lowest level of Venezuelan grades to the U.S. on our records, as total Venezuelan cr…

Mexico’s Oil Dilemma Continues In 2018

U.S. gasoline exports averaged just over one million barrels per day in 2017, with a strong push higher at the end of the year (hark, an average of 1.3 million bpd in Q4). As exports registered their highest month of loadings on our records in December…

The Least Compliant Country In The OPEC Deal

Yesterday’s monthly oil market report from OPEC showed that oil production from Kazakhstan likely increased by 180,000 bpd in 2017 to 1.74 million barrels per day. Such a rise gives Kazakhstan the unenviable accolade of being the most out-of-compliance…

Colombia’s Crude Exports Fall Amid Unrest

Crude exports out of Colombia in recent years have averaged just over 600,000 barrels per day, with exports typically highest in January, before gradually descending through the year. To start this year, however, export volumes have dropped off conside…

Two Changing Trends In Oil Shipping

Taking a look at our proprietary ClipperData in recent days, there has been two trends that have jumped out: changing oil dynamics in the US, and changing flows in the Asian gasoline market.    First up, the U.S. market. The chart below shows how the A…

The Most Remarkable Natural Gas Deal Of 2018

The potential first delivery of Russian LNG to U.S. shores is ruffling some feathers, due to sanctions in place on Novatek, one of the partners in the Yamal LNG terminal – the apparent origin of the LNG heading to the Everett LNG terminal in Boston.  W…