Daily Energy Report

Daily Energy Report

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Daily Energy Report

Global oil inventories, TMX pipeline impact misunderstood, Saudis map renewable sites, Golden Pass LNG failure, China EVs dividing West, Vietnam energy deals, AI power squeeze, and more.

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A F Alhajji
Jun 24, 2024
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Chart of the Day: Global Oil Inventories are Rising!

Summary

Global oil inventories are rising as shown in Figure (1) above. In recent weeks, they were rising in India, China, and the EU. Please note these are “commercial” inventories and do not include strategic petroleum reserves (SPR). The SPRs matter only when they change, but their absolute level is irrelevant to the market. 

EOA’s Main Takeaway

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