SPDR S&P Oil & Gas Exploration & Production ETF (XOP)

Wow! EIA reports a net draw of 10.1 million barrels for the week. That's a 5.6 million draw from the SPR and 4.5 million draw from commercial. That's a huge draw, should be very bullish for oil.

$LPI $CPE $ESTE $CDEV $SM $FANG $PXD $XOP

Five pieces of data ahead of Energy Producers earnings next week.

All of which is pointing to tighter energy supplies. Both Oil and Gas.

1) Strategic reserve drawdown continuing at 1 million barrels per day. This Ends October and represents 9% of USA daily "output". (production+ the STEO draw).
Note: The 150 Million+ barrels loaned will need to be returned at some point in the future.

2) US Oilfield Production rolling over. Second week in a row of decline. Plan was to "hand off" the Strategic Reserve draw with a Production-gain. Production however is dropping. Setting up a 1+ million barrel per day loss or 9% loss of current USA supply in the system. Futures will begin pricing this shortly when the day traders are done playing games and physical supply gets priced in.
As a reminder US Oil production peaked at 13.2 Million barrles per day in 2020. it's now 11.9mbpd. A loss of 9.8%.

3) Natural Gas Inventory is below the 5 year average and rolling over while Freeport LNG is OFFLINE. This provided a fake 2 billion cubic feet per day surplus based on an explosion. Even with that, Natural gas supply cannot keep up. Freeport will be drawing in October. Losing 7% of USA production to export under contract.

4) US Oil exports spiked last week blowing out last 5 years data. 4 million barrels were exported. No clue where. Does it really matter?

5) Gasoline Production is now rolling over. Production peaked 6 weeks ago, and has dropped 500,000 barrels of gasoline per day. A drop in supply of 5%.
As gasoline inventory is the lowest in 5 years

$LPI $XOM $PXD $FANG $CDEV $MTDR $OXY $XOP $COP $SM

Oil and gas stocks are pulling back from today's highs, but oil and gas prices are at or near their highs of today.

WTI crude $102.56/barrel (up 5.1%)
HH nat gas $7.50/mcf (up 6.9%)

$LPI $CPE $ESTE $FANG $XOP $SBOW

This week's EIA report (just out) indicated a net overall weekly draw in US oil inventory of 6.45 million barrels. The US Strategic Petroleum Reserve (SPR) was drawn by 3.0 million barrels during the week, yet despite this the net commercial change was a draw of 3.45 million barrels.

US commercial oil inventories are (as of the report) 18.3% below the year ago levels, and the US SPR is 10.9% below year ago levels.

All of which should be very bullish for WTI crude oil prices going forward, IMO.

$LPI $CPE $SM $CDEV $FANG $PXD $OXY $ESTE $XOP

EIA report out today showed a net overall weekly draw in US oil inventory of 6.7 million barrels. The Strategic Petroleum Reserve (SPR) put 4.2 million barrels on the market during the week, but it still wasn't enough to meet demand. Thus commercial inventories declined 2.5 million barrels despite the draining of 4.2 million SPR barrels.

Compared with inventories one year ago, US commercial inventories are 17.8% below the year ago levels, and the SPR is now 10.4% below year ago levels. Supply simply isn't keeping up with demand.

$LPI $CPE $SM $CDEV $FANG $PXD $OXY $ESTE $XOP

DO NOT PANIC sell.... I can guarantee you this will be higher in 2020.
Crude, NG, LNG, petrochemicals,etc. are all ESSENTIAL to modern day life!..it's NOT going away
This is simply end-of-year Tax Loss Harvesting ... $IRR $JMF $BGR $TELL $NDP $BCX $GMLP $OIH $XOP
‘Nobody ever made a dime panicking’ ~Jim Cramer
https://www.cnbc.com/2019/08/05/cramer-time-to-slowly-buy-stocks-nobody-ever-made-a-dime-panicking.html

There are 3 tankers from Saudi Arabia already in the gulf, 19 on the way. Reuters reports 40 million barrels. This oil is sold to American big oil. I get the ship sailed and the xom, mpc, cop, cvx of the world bought it, I just hope they paid spot.
Do we realize that this oil was slammed into our market and China intentionally. This whole Saudi/Russia was one big con......
https://finance.yahoo.com/news/saudi-arabia-may-route-tankers-140951915.html
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