Commodity Trade Mantra

Posts Tagged ‘Crude Oil Imports’

India's Soaring Oil Demand Provides Floor Beneath Oil Prices

India’s oil demand grew by 400,000 barrels per day in the first quarter – the fastest in the world, accounting for about 30% of the total global increase. Crude oil imports have jumped by 12% so far this year from 2015 levels. India’s oil demand could rise to 10 mb/d, a more than 6 mb/d increase from today’s levels, which will also be the largest source of growth on the planet.

Why North-American Oil Is Positioned To Win In The Long-Run

Not only are North American oil producers displacing non-North American imports from the U.S. market, U.S. producers are competing for share in foreign crude oil and petroleum product import markets. Lifting the ban on crude oil exports at the end of 2015 will increase U.S. exports. The “growing volumes of exports” from the U.S. are now “spooking the markets.”

Oil Markets Increasingly Bullish As Long Positions Surge

The latest CFTC data show that short positions in WTI crude oil shrank again last week, dropping by 20% to the lowest level since June. In combination with a 2.4%t increase in long positions, net-longs increased by 17% – to the highest level since last June. Once again, this increase shows ‘much less bearish’ positioning, as opposed to ‘much more bullish’.

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