Tag: John Kemp
Column: US shale returns to growth, posing problem for OPEC
Futures prices sending signal to US shale firms to boost output By John Kemp LONDON, Jan 5 – US crude oil prices have risen above $60 per barrel which should accelerate shale drilling and production in the next few months, provided the price increase is sustained. US crude futures are trading over $60 for […]
Column: OPEC’s focus on oil stocks risks prices overshooting
Oil stocks overhang compared to 5-yr average has narrowed significantly By John Kemp LONDON – The Organization of the Petroleum Exporting Countries (OPEC) is sticking doggedly to its plan to cut commercial oil inventories down to the five-year average to rebalance the oil market. But in doing so, the organization risks tightening the market too […]
Column: Hedge funds gamble OPEC will tighten oil market too much
Record net long position accumulated by hedge funds, other money managers By John Kemp LONDON, Jan 2 – Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions. A record net long position […]
Column: Hedge funds start to take profits after oil rally
Hedge funds managers cut combined net long position in five major futures By John Kemp LONDON, Dec 11 (Reuters) – Hedge fund managers have started to take profits from the big rise in crude oil and refined products prices since June now the rally has lost momentum and inventories are showing signs of stabilizing. Portfolio […]
Column: Crude oil rally stalls as fuel prices soften
Oil rally falters as as record refinery runs, distillate production catch up with demand By John Kemp LONDON, Dec 7 (Reuters) – Surging prices for refined products, especially distillate fuel oil, led crude prices higher between June and November, but now fuels are slipping and putting crude under pressure. Gross refining margins for producing distillate fuel […]
Column: Hedge funds build record bullish position in oil ahead of 2018
Hedge funds raise bullish position following OPEC meeting By John Kemp LONDON, Dec 4 – Hedge fund managers raised their bullish position in crude oil and refined products by another 63 million barrels to a record 1,155 million barrels in the week before the OPEC meeting. Portfolio managers were emboldened as it became clear OPEC […]
Column: Key issues for OPEC oil ministers meeting in Vienna
OPEC ministers must reassure bullish investors, calm fears of a price spike By John Kemp LONDON, Nov 29 (Reuters) – Ministers from the Organization of the Petroleum Exporting Countries and their allies meeting in Vienna on Thursday must make a series of fairly straightforward decisions but weigh the risks carefully. Ministers must consider six basic […]
Column: US shale producers renew challenge to OPEC
US shale producers add more rigs By John Kemp LONDON, Nov 27 – US shale producers have started adding more drilling rigs in response to rising oil prices and improving confidence about the outlook for 2018. Experience shows changes in the number of rigs drilling for oil in the United States tends to follow changes […]
Column: US traffic volumes growth slows as oil prices rise
Traffic volumes growth less than 1 per cent, down from 4-5 per cent in 2016 By John Kemp LONDON, Nov 21 – Traffic volumes on US highways are at record levels but the rate of growth is slowing as the earlier impetus from lower gasoline prices fades and motoring costs rise. US motorists drove a […]
Column: Oil prices stall as record bullish position makes funds wary
Brent oil prices up almost $20/barrel since June By John Kemp LONDON, Nov 20 – Hedge funds increased their bullish position in petroleum futures and options to a new record last week, but the first signs of caution started to emerge. Fund managers raised the number of long positions in the five major futures and […]
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