A closer look at fund managers' energy market futures and options positioning
Global floating crude inventories are up more than 78% (54 MMb) since the middle of September
Guyanese crude production ramped to a record peak of 910 kb/d and an average of 837.1 kb/d in October—the latter marking an increase of ~66 kb/d from September’s average and 189.8 kb/d over the average for October 2024.
Global floating crude inventories gained 10.1 MMb W/W and 27.5 MMb from the start of November to 114.3 MMb on Sunday
Shorter days, cloudier skies, and calm winds dropped combined solar and wind generation to its lowest share of lower 48 power demand this week, enabling thermal generators to record their best performance since the week ending October 31.
While last month’s growth was the smallest monthly increase since April and bullish versus the group’s announced October hike of +137 kb/d, actualized output...
Global volumes of crude in stationary floating storage increased 10.84 million barrels (+12.7%) W/W to 96.12 MMb last week, lifting worldwide floating stocks into the top quartile of the 2016-2024 seasonally-adjusted distribution.
