• Oil Inventories Undergo A Seismic Shift

    9 monthes ago - By ETF Daily News

    From Steven Vannelli, CFA : Venezuela has experienced a collapse in oil production this year as the country sinks into chaos. Daily production is down from 1.7M barrels/day at the end of last year to just 1.44M barrels/day at the end of May.
    Year-over-year production declines are even larger, down about 500k barrels/day.
    Production peaked in October 2015 at 2.38M barrels/day and is now roughly half that level.
    U.S. Permian production has largely filled the void, with production up about 1.5M barrels/day since the peak in Venezuelan production. While Permian production is up about 1M...
    Read more ...