Daily Commentary From OilSlick.com

OPEC's Fake News
Everyone new OPEC would come up with some kind of announcement to make it appear there was an agreement to cut production. Continue reading
Agreed to Consider
Oil prices rallied strongly all the way back to resistance at $48.50 on the OPEC headlines out of Algeria. Unfortunately, it is just a headline. Continue reading
Conflicting Views
OPEC and the IEA seem to be looking at a different set of numbers. OPEC expects a continued glut while the IEA is seeing the supply demand imbalance shrinking. Continue reading
Oil Shortage Coming
Geophysicist Jiles van den Beukel, warned last week that oil supplies will fall below demand from 2018-2020. Continue reading
Brexit Crash?
Crude oil prices fell to $46.14 on Thursday on worries Great Britain will vote to leave the EU and throw Europe into turmoil that will reduce demand for oil. At least that is what the talking heads on TV would have you believe. Continue reading
Say Goodbye to Cheap Gasoline
The wildfire in Canada and production outages around the world has erased the recent glut in daily production. Oil and gasoline prices are going to rise. Continue reading
Reality is Rapidly Approaching
The April 17th meeting in Doha Qatar is rapidly approaching and traders are finally starting to realize that even if there is an agreement it will be meaningless. Continue reading
Prices Cut Again
The Energy Information Agency cut its forecast for crude prices in 2016 and 2017 despite the recent short squeeze that lifted WTI to $38. Continue reading
Banks Taking Some Heat
JP Morgan opened a box of pain for the banking community this week after they said they were increasing their loan loss reserves for questionable energy loans. The financial sector crashed again on the disclosure. Continue reading
Saudi Kills the Limit
After a couple of days of higher oil prices the Saudi foreign minister killed the bullish sentiment before it could spread. Continue reading
No Deal
The oil ministers of Saudi Arabia and Venezuela met in Riyadh on Sunday. The Saudi minister, Ali al-Naimi, said he held "successful" talks on Sunday with his counterpart from Venezuela. In this case, successful did not mean productive. Continue reading
Russia Holds the Key to Prices
You probably witnessed the short squeeze in crude oil twice in the last three days. With fundamentals becoming increasingly bearish nearly every commodities trader was bearish. Continue reading
You know it is time to buy energy stocks when analysts begin to capitulate on the entire sector. Barrington analyst Rudolf Hokanson said current fundamentals are so badly flawed that any investment in the sector would be purely speculative. Continue reading
Oil or Water?
How far can you go on a bottle of water? If you do not have any water, your travel distance on foot is pretty limited. On a gallon of water, the average individual should be able to walk 25 miles in one day or about the same distance as you can travel on a gallon of gas in 30 minutes today in a modern car. Continue reading
Iran War with Saudi Arabia?
Last week Saudi Arabia executed 47 "terrorists" and enemies of the state. One of those enemies was Nimr al-Nimr, a leading Shiite cleric. Iran is not happy! Continue reading