Daily Energy Report

OPEC crude exports, US LNG and its gas demand, Rig count, Ukraine oil ‘crisis,’ Russia cuts crude exports, Rio Tinto lithium, US electricity problems, China wind invades EU, and more.

Chart of the Day: Do NOT be Fooled by the Decline in OPEC Crude Exports

Summary

It is a known fact that OPEC’s crude exports have been declining in recent weeks as shown in Figure (1) above. 

EOA’s Main Takeaway

Be careful getting bullish on oil because of such information. Here are four reasons why you should be careful: