A closer look at fund managers' energy market futures and options positioning
Today in oil and natural gas markets:
OPEC8+ production jumped another 349 kb/d M/M in July to an aggregate 31.7 MMb/d, coming in 371 kb/d higher than the group’s intended output after another month of unmet compensation commitments.
BH's latest data suggest the market may see meaningful differences between actualized OPEC8+ production and the 1.1+ MMb/d of announced supply growth due to hit the market in the next two months.
Today’s EIA data showed PADD 2 net inputs gained ~76 kb/d W/W to 4.21 MMb/d last week, marking the eighth week out of the past nine with top-decile throughput relative to the past ten years (seasonally-adjusted).
