Weekend Show Preview – Dan Steffens – Oil Down 11 Of The Past 12 Months, Macro Factors Ranging From North America To OPEC+
This is a preview to an interview going on the Weekend Show.
Dan Steffens, President of The Energy Prospectus Group joins us to discuss the persistent monthly drop in oil prices, now 12 months long. We focus on the macro side of the sector asking about demand outlook and production in North America and OPEC countries.
We are saving up the second half of this interview for the Weekend Show. That’s when we get into the stocks that Dan likes.
If you have any questions you would like us to pass on to Dan please email us at Fleck@kereport.com or Shad@kereport.com.
OPEC Warns Of Growing Economic Uncertainty But Reaffirms Oil Demand Outlook
By Charles Kennedy – OilPrice.com – Jun 13, 2023
– In its latest Monthly Oil Market Report, OPEC kept its demand growth forecast for 2023 largely unchanged but warned of increased economic uncertainty.
– OPEC sees global oil demand growing by 2.35 million barrels per day this year, with a majority of that growth coming from non-OECD economies.
– OPEC highlighted high inflation, rising interest rates, and high debt levels in many regions as sources of concern for the global economy.
EIA Sees Record U.S. Shale Output Despite Slow Growth
By Tsvetana Paraskova – Oilprice.com – Jun 13, 2023
“The biggest U.S. shale regions are expected to produce a record-high level of crude oil in July, but growth is sputtering and set to be the slowest since December 2022, data from the Energy Information Administration showed on Monday.”
“The seven main shale-producing regions in the United States are expected to pump 9.375 million barrels per day (bpd) of crude oil next month, a record high, according to estimates in the EIA’s Drilling Productivity Report. While output could reach an all-time high, it would be only 8,000 bpd higher than the estimated June crude oil production of 9.367 million bpd.”
“The Permian, the top-producing region, is set to see only a 1,000-bpd increase in output, although July production is expected at a record 5.763 million bpd. The rise in output would be the smallest in the Permian since February 2023.”
https://oilprice.com/Energy/Energy-General/EIA-Sees-Record-US-Shale-Output-Despite-Slow-Growth.html
U.S. Stocks Are Rising After Cooler-Than-Expected Inflation Data As Fed Meets
Liz Moyer – Investing.com – June 13, 2023
“Data out this morning showed inflation rising 4% in May from last year, a cooler pace than expected. Without food and fuel, prices rose 5.3% from last year, meeting expectations.”
“Cooler-than-expected inflation could encourage the Federal Reserve to hold off on another interest rate increase this week, as policymakers head into their two-day meeting today. Futures markets have anticipated the probability of a pause while Fed officials step back to assess how their actions have worked so far. The Fed has raised rates at its 10 last meetings.”
“But a pause doesn’t necessarily mean the Fed will be done for good. Many expect it will return to rate increases in July if inflation doesn’t show signs of returning toward its 2% target.”
Dan and Lake, everyone likes to gripe me included but you are playing one of The World’s Most Dangerous Games with your money called “The Stock Market.” Everything gets manipulated up and down all the time. If you think it is bad now you can count your lucky stars that you weren’t around in the days of the bucket shops prior to 1921. In those days if you put in an order to buy or sell, it was impossible to find out what happened to it. If there is an emergency today, you will see the same thing again. The difference now is that your eyes will be mesmerized by the electronic world.
Before you here this, “There has been a little distress selling on The Stock Exchange”, and your stocks start melting up get out with a healthy profit and wait to play another day. The stock market is not for people who want honesty, it doesn’t exist, we are all in a room full of suckers and very few will come out on top. DT 😉
Why do we have Regulators like the SEC, CFTC, Justice Department, etc if they aren’t going to Regulate. Why do we pay for them. Why do we regulate brokerage firms if it is meaningless. Why is the IRS allowed to tax capital gains and losses if they aren’t going to regulate the markets.
If you walk away and say nothing than there is no point in having Statutes, Regulations, Offices that Regulate, Statutes governing accounting rules, statutes governing corporate behaviors, Courts that Rule on legal issues and legal disputes, Banks, currencies, private property, A Constitution, police, public institutions, etc
You might as well convert to an autocratic political system where everything is owned by a few and the masses have no say in their personal lives or futures and their only purpose is to serve the Masters.
I do not understand why so many find a “rigged” system an acceptable system and Some are allowed to steal the wealth of others because they can.
That is not acceptable and someone has to whine and expose criminals wherever they may be. There are a few of us that want our paid Regulators to do their jobs without intervention from elected parasites that feel entitled to other peoples wealth due to perceived special status, character disorders and mental illness that makes them unfit to work in a position requiring supporting and defending the Constitution rather than personal interest.
No, a rigged system is not acceptable whether it has been historically in fashion, hard to correct or preferred by a few. The answer is to whine, expose, complain, investigate and prosecute. Too many accept markets that favor the few…most don’t. (Most don’t even know that they are in favor of a Fascist State or what one is. A good course in High School would be for the Class to develop the perfect Constitution. Then at the end of the semester, have them read the Actual Constitution for the first time. They could see whether they were closer to the Actual Constitution or an Autocratic Dictatorship. They might be more prone to object to rigged markets than trying to undermine the Actual Constitution as they need the Law to cure the problems of corruption. They would see that without the Law, corruption and rigging will be near impossible to stop in an autocratic state than survives off false narrative and deception.
Intervention is real and can alter every chart. That is market rigging and is criminal. When Regulators and our political leaders and Institutions facilitate intervention against the best interests of the people and the Constitutions and the Laws, then that is criminal and should never be tolerated or found acceptable.
DT:
Notice I started with DT. Notice also you started with Dan, Lake. It sure sounded like you were “schooling” us with advice.
Advice: don’t direct your opinions .. just make them and let us decide if they apply to us personally. I can’t speak for Dan, but I would rather see a post like:
EX and Cory: “You guys do a great job”.
There is a difference.
Well said, I’m a big boy now and I assume we all are, no offence taken on my part, I’m here to learn not get mad at other posters, if I can help it, haha…
Good discussion and thread guys.
Total Perversion of the US CAPITOL……………………… stock market…… lol…….
Rome burns and the fiddle is being played by NERO BIDEN….. lol
Hi Jerry, if you can’t cancel the debt and have a prosperous middle class, there will be a new Dark Age. This is something that happens quite frequently in history when you have a society of debt serfs. DT
Hello DT…………
Yes, the clueless sheeple have not figured out the answer………….. Debt Jubilee,
not a bad thing , it is just a restart…. The Fake Jew bankers have been pulling the
scam of excess debt for centuries. The current scum bags, just print, without consent.
The USofA , does not need a central bankster….. who only knows how to fund war….
and steal TRILLIONS with the pen.
ONE STUPID JOKE ………..on the WORLD , and the sheeple think that the stock market is going to save them…………..lol…………….
Economic Calendar, handy for CPI and PPI crap.
DITTO ON THE ………….”crap”………… who believes any of the info coming out of MSN…. seriously,,,
Silver could hit $18, here’s WHY? Chris Vermuellen. Dt
Chris Temple ………. was quoting gold and uranium…….as the investments to watch in the next few months…..
+2
Saudi Arabia Suckered Again By Russia In OPEC+’ s Output Cut
By Simon Watkins – Jun 12, 2023
– Saudi Arabia’s decision to cut production on its own may not have been in its best interests.
– Russia’s strategy has been to persuade Saudi Arabia to increase the group’s oil prices as much as possible while at the same time selling its own oil at a discount to this price.
– Saudi Arabia is risking losing market share in some of its largest markets in Asia.
https://oilprice.com/Energy/Oil-Prices/Saudi-Arabia-Suckered-Again-By-Russia-In-OPEC-s-Output-Cut.html