By the Numbers
Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen
AJOT | August 24, 2020 | Energy | Conventional | By The Numbers
It’s been a long time since something different to Covid-19 and OPEC is making oil markets move.
Monthly U.S. energy-related CO2 emissions in April were the lowest in decades
AJOT | August 21, 2020 | Energy | Conventional | By The Numbers
Monthly U.S. energy-related carbon dioxide (CO2) emissions fell to 307 million metric tons (MMmt) in April 2020, the lowest value in the U.S. Energy Information Administration’s (EIA) monthly series for CO2 emissions, which dates back to 1973
Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen
AJOT | August 21, 2020 | Energy | Conventional | By The Numbers
As the dust from this week’s uneventful OPEC+ meeting now has settled, the market realized that the main news takeaway from the event is on non-compliance.
U.S. shipments of solar photovoltaic modules increase as prices continue to fall
AJOT | August 19, 2020 | Energy | Alternative | By The Numbers
In 2019, U.S. shipments of solar photovoltaic (PV) modules, also referred to as solar panels, reached a record-high 16.4 million kilowatts (kW), 2.9 million kW more than the previous record of 13.5 million kW set in 2016.
Rail Traffic for the Week Ending August 15, 2020
AJOT | August 19, 2020 | Intermodal | Rail | By The Numbers
For this week, total U.S. weekly rail traffic was 500,563 carloads and intermodal units, down 6.9 percent compared with the same week last year.
Rystad Energy’s opener comment from our Senior Oil Markets Analyst Paola Rodriguez Masiu
AJOT | August 19, 2020 | Energy | Conventional | By The Numbers
It’s that interesting day of the month again! The OPEC+ alliance is meeting today for its monthly get-together, with traders keeping their eyes open for unexpected surprises and also for compliance hints from the group’s naughty laggards.
Once the costliest for deepwater opex, South America emerges as cost-saving champion in 2020
AJOT | August 19, 2020 | Energy | Conventional | By The Numbers
South America has made a cost-cutting leap since 2013, when it was the world’s most expensive region for deepwater oil and gas production costs.
ATA Truck Tonnage Index Fell 5.1% in July
AJOT | August 18, 2020 | Intermodal | Trucking | By The Numbers
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 5.1% in July after surging 8.9% in June. In July, the index equaled 109.6 (2015=100) compared with 115.5 in June.
Bright spots for Port Houston cargo
AJOT | August 18, 2020 | Ports & Terminals | Ports | By The Numbers
Record gate moves and extra loaders are positive signs this summer at Port Houston. Nevertheless, container twenty-foot equivalent units (TEUs) at the largest container port on the United States Gulf Coast continued showing coronavirus effects and was down 10% in July.
Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen
AJOT | August 18, 2020 | Energy | Conventional | By The Numbers
Oil prices recorded gains in yesterday’s late session, which they are largely keeping intact this morning, as traders await for news from August’s most interesting event, tomorrow’s OPEC+ meeting.
U.S. coal stockpiles steadily increase after reaching lowest level in a decade in 2019
AJOT | August 17, 2020 | Energy | Conventional | By The Numbers
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, recovering to levels not seen in three years.
Price per kg dropping by 9% worldwide - volumes on the rise
AJOT | August 17, 2020 | Air Cargo | Freighters | By The Numbers
Since air cargo developments started to completely go “off the charts” in March 2020, every month the question arises whether the next month will be a bit more normal, whatever ‘normal’ may mean.
Port of Long Beach posts biggest month ever
AJOT | August 17, 2020 | By The Numbers
July marked the busiest month in the 109-year history of the Port of Long Beach as terminal operators and dockworkers moved 753,081 cargo container units, topping a record set two years ago.
Port of Los Angeles July volumes are strongest of 2020
AJOT | August 14, 2020 | Ports & Terminals | Ports | By The Numbers
856,389 twenty-foot equivalent units is second-best July in port history
Utility-scale battery storage capacity continued its upward trend in 2018
AJOT | August 10, 2020 | Energy | Alternative | By The Numbers
By the end of 2018, the United States had 125 operational battery storage systems, providing a total of 869 MW of installed power capacity and 1,236 MWh of energy capacity.
LPG Markets are Back in Favor
AJOT | August 10, 2020 | Energy | Conventional | By The Numbers
July finished with additional signs that the LPG markets are coming back into favor, with overall offtake increasing 14% from June. Higher discharges took place in parts of Asia, where Japanese and South Korean imports each grew 24%, to 324,000 bpd and 333,000 bpd respectively.
Libya’s oil blockade is expected to persist further, shrinking upcoming global production glut by 65%
AJOT | August 07, 2020 | Energy | Conventional | By The Numbers
Libya’s oil blockade is now entering its seventh month and the war-torn country’s oil output is hovering at just 100,000 barrels per day (bpd) instead of the pre-crisis 1.2 million bpd.
Illinois is a top energy consumer and producer in the Midwest
AJOT | August 03, 2020 | Energy | Conventional | By The Numbers
According to the U.S. Energy Information Administration’s (EIA) State Energy Data System (SEDS), Illinois had the highest energy consumption in the Midwest and was the third-highest energy producer of any state in the region.
Rystad Energy’s daily market comment from our Head of Oil Markets Bjornar Tonhaugen
AJOT | August 03, 2020 | Energy | Conventional | By The Numbers
It’s the first business day of August, the month traders were bracing for, as part of the oil production that OPEC+ has curtailed is returning back on line. Naturally, as oil demand seems to be stalling and the recovery muted for a while, traders are worrying about the effect of the extra supply on balances. A dip in oil prices is therefore justified on the above concerns and today prices are seeing some mild losses as expected. This is an initial reaction of course and the rest of the month should roll on demand signals and taking into account how the Covid-19 pandemic develops. A mini-glut, created by the returning oil production is to be expected for the next 4 months, but demand should pick up from November, so the bearish indicator is likely to only last for the rest of the summer and autumn’s summer blues. The wild card, however, is Covid19 and how it progresses. Our modelling shows that a mild second wave will have an effect this summer and autumn and will fade away till February. But there is a downside in this and if the virus is not contained the effect could spiral further. News from Europe are not as the market hoped for, infections are rising in countries that had so far managed to contain the virus, as lockdowns have been scrapped, and this is a concern, for markets too. The losses this morning are limited, as oil prices are supported by positive surprises in the leading Chinese manufacturing index and Japanese GDP for 2Q, which have boosted spirits in the equities markets in Asia. Today’s data releases will provide further clues for the short term economic recovery globally for August, with the global PMI starting with China’s positive print of 52.8 this morning. However, these positive surprises may not be enough to convince oil traders that all is well ahead for the supply-demand rebalancing. OPEC+ cut tapering has begun, Saudi Arabia will publish its official selling prices for September (expected to reflect a weakening crude market) and global oil supply is set to increase by nearly 2 million bpd m/m in August. Meanwhile, the flat oil demand is also visible via real-time road and aviation indicators. Overall, we believe oil markets will see more volatility during August, compared to the anemic development during July, and prices will be affected on how quickly this extra supply returns. Traders will be keeping an eye on real-time flows, and so will Rystad Energy.
US shale Chapter 11 and M&A review: Investment opportunities in low-cost assets
AJOT | August 03, 2020 | Energy | Conventional | By The Numbers
Several large and small independent US oil and gas producers have filed for bankruptcy this year as their debt burden peaked and hopes of cash flow recovery plunged due to the downturn caused by the Covid-19 pandemic.
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