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Msg  465211 of 479307  at  11/23/2022 10:44:57 AM  by

coolreit

The following message was updated on 11/23/2022 10:50:09 AM.

 In response to msg 465196 by  blondeBond
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Re: EIA -Why I call BS on these #'s

 
1) The Brent/WTI spread exceeded $8 (10%) at many times last week. THAT would be a great incentive to export crude and product WOW, which we see. OTOH, the EIA says that imports INCREASED 1.5 million bpd or 10.5 million barrels last week.  The huge Brent/WTI spread would discourage imports. Pure EIA BS.
 
2) The EIA said production increased by 600k bpd YOY. I posted SEC filed financial reports from the 5 top US shale producers and they showed a YOY 9/30/22 increase of 45k bpd, not 600k bpd.  That adds to a 3.8 million increase in weekly production YOY. Again pure BS.
 
Remember that these 2 major discrepancies aggregating 14.3 million barrels (10.5+3.8) require offsets somewhere on the other side of the ledger. That ledger would suggest inventories are overstated or ???.
 
We know that the government wants lower oil prices at least until they pick the Georgia senator that determines which way the Senate leans politically. 
 
WOW=Week over week 
YOY = Year over year 
 
 
 
Gas/Oil ratios
Q3/21Q3/21Q3/22Q3/22ChangeChangeChange %Change %
OilGasOilGasOilGasOilGas
Devon3039432941,000(9)57-3%6%
EOG4481,2104641,30616964%8%
PXD389781354841(35)60-9%8%
Total Independents1,1402,9341,1123,147(28)213-2%7%
CVX - US8421,7088911,7084906%0%
XOM-US (1)7582,7017832,35125(350)3%-13%
 
Total Majors1,6004,4091,6744,05974(350)5%-8%
Total- All2,7407,3432,7867,20646(137)2%-2%
 
 
 


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Replies
Msg # Subject Author Recs Date Posted
465215 Re: EIA -Why I call BS on these #'s Razorwyre 2 11/23/2022 10:51:33 AM
465218 Re: EIA -Why I call BS on these #'s W 9 11/23/2022 10:52:00 AM
465219 Re: EIA -Why I call BS on these #'s alertmeipp 2 11/23/2022 10:54:03 AM
465290 Re: EIA -Why I call BS on these #'s W 8 11/23/2022 1:54:02 PM




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