Oil’s Inventory Problem Dampens Price Recovery



Comments (4)

  1. S,K,LIMAYE says:

    A very interesting article as usual, from Mr Karim Rahemtulla.But I fail to understand how he says that imports in this year are more than those in last year.The graph clearly shows that except in Jan’15 imports were always low than last years.Unless ofcourse its a typo error and yellow colour in the graph is for current year and Blue for the previous year !

    [Reply]

    Karim Rahemtulla Reply:

    If you look at the actual numbers, it’s really quite clear. The four-week average of crude oil imports (excluding SPR) on 2/17/14 was at 7.602 million barrels per day. The averages for 2/6/15, 1/30/15, and 1/23/15 were 7.328, 7.380, and 7.247 respectively. The week ending number for 2/7/14 was 7.929. On 2/6/15, 1/30/15, and 1/23/15 the week endings were 7.286, 7.387, and 7.422 respectively. The numbers shows that the overall imports are trending lower. But, as measured by week against week from January 2015 to January 2014, imports were higher in January 2015 than in January 2014. The trend is flat to lower.
    -Karim

    [Reply]

  2. Steve Bentley says:

    For the last 4 or 5 years, the price of oil has been far too high and, it some areas people like the high prices, especially the Canadian government as the profit on the tax percentages is better.
    Even now at $50. per a US barrel, the oil is still far too high.

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  3. rick says:

    Take some of this greed out of the oil industry and we could see oil at prices you would have seen back in the 60’s. Egypt is going to open up their oil and let it flow like crazy and it will shut off the shale oil and then raise prices again. the USA will try to keep oil high no matter what.

    [Reply]

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