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THE WORLD  FROM ABOVE

A birdseye view of the global economy. 

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The Wall Street Journal reported March 22 that US sanctions have prevented Iran from exporting oil to Syria since January 2, down from an average of 66,000 barrels per day (bpd) during the last three months of 2018.

Without fresh imports from its major supplier, crude inventories in Syria have fallen.

Ursa data shows the...

It would have been impossible for anyone in the Houston-area to ignore the recent fires raging in nearby Deer Park, where storage tanks holding chemicals that go into making gasoline ignited March 17.

A thick blanket of black, acrid smoke hung over the area for several days creating a public health and environmental cri...

The role played by oil inventories was once again in the news the last few days.

Saudi Arabia’s oil minister Khalid Al-Falih said Monday that the amount of crude in storage needs to fall before OPEC should consider lifting supply restrictions.

“As long as the levels of inventories are rising and we are far from normal le...

One consequence of Venezuela’s collapse has been the drawdown in crude inventories across the Caribbean.

Storage tanks began to drain more than a year ago and haven’t stopped. The imposition of US sanctions against Venezuela’s state-owned oil company PDVSA in late January has only accelerated the declines.

Certain locati...

In the early morning of January 23, the northern wall of an open-pit copper mine collapsed in Spain.

Fortunately, no lives were lost, but the land slippage led owner First Quantum Minerals to suspend operations for a week.

When incidents occur, like this one at Cobre Las Cruces (CLC), the copper market is eager for infor...

Libya’s largest oilfield came back online this week after having been shut for almost three months.

El Sharara has been at the center of an internal power struggle resulting in periodic shutdowns, most recently since December. We wrote about Sharara last month, which you can read here.

Libya’s state-owned National Oil Co...

Oil prices have rebounded since late December on signs that OPEC production cuts are working.

That’s the conventional wisdom. But what exactly are those signs? And could it be traders are overlooking evidence pointing the other way?

The argument for stronger fundamentals is based partly on US crude inventories.

US stocks...

In the first part of our two-blog series, highlighting the key takeaways from a week spent in London, we wrote about a roundtable discussion in which we participated hosted by the King Abdullah Petroleum Studies and Research Center (Kapsarc).

The rest of our time was spent at International Petroleum (IP) Week, the annua...

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