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.
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.