{"id":42066,"date":"2018-12-28T11:29:46","date_gmt":"2018-12-28T16:29:46","guid":{"rendered":"https:\/\/olduvai.ca\/?p=42066"},"modified":"2018-12-28T11:29:46","modified_gmt":"2018-12-28T16:29:46","slug":"wti-extends-losses-after-production-rebounds-to-record","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=42066","title":{"rendered":"WTI Extends Losses After Production Rebounds To Record"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-12-28\/wti-extends-losses-after-production-rebounds-record\"><span class=\"field field--name-title field--type-string field--label-hidden\">WTI Extends Losses After Production Rebounds To Record<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\" data-gtm-vis-recent-on-screen-2077925_22=\"1289\" data-gtm-vis-first-on-screen-2077925_22=\"1289\" data-gtm-vis-total-visible-time-2077925_22=\"100\" data-gtm-vis-has-fired-2077925_22=\"1\">\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>WTI has slid lower overnight following API&#8217;s surprise large crude build (and no equity pump) and was <strong>unable to hold gains after a bigger than expected gasoline build <\/strong>(and tiny crude draw) along with a<strong> production rebound to record highs.<\/strong><\/p>\n<p>If U.S. crude output rises, it\u2019s likely to see more inventory builds, according to\u00a0Stewart Glickman, an energy equity analyst at CFRA Research. <strong><em>\u201cThe Permian has surprised to the upside over the last couple of months,\u201d <\/em><\/strong>he says.<\/p>\n<p><u><strong>API<\/strong><\/u><\/p>\n<ul>\n<li>Crude +6.92mm<\/li>\n<li>Cushing +1.76mm<\/li>\n<li>Gasoline +3.67mm<\/li>\n<li>Distillates -598k<\/li>\n<\/ul>\n<p><u><strong>DOE<\/strong><\/u><\/p>\n<ul>\n<li>Crude _46k (+3.4mm exp)<\/li>\n<li>Cushing +799k<\/li>\n<li><strong>Gasoline +3.003mm (+1.0mm exp)<\/strong><\/li>\n<li>Distillates +2k<\/li>\n<\/ul>\n<p>Tiny crude draw (4th week in a row) but another Cushing build along with a rise in gasoline stocks took the edge off for the bulls.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-12-28_8-01-03.jpg?itok=nAAdMv5L\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/2018-12-28_8-01-03.jpg?itok=nAAdMv5L\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-12-28_8-01-03.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/2018-12-28_8-01-03.jpg?itok=nAAdMv5L 1x\" alt=\"\" width=\"500\" height=\"260\" data-entity-type=\"file\" data-entity-uuid=\"19bb3d95-0e24-46f8-8af1-560cf8768e07\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>US Crude production had stalled from its never ending surge higher in recent weeks as the rig count stabailized but rebounded to record highs last week&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-12-28_8-04-38.jpg?itok=qDchH2c0\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/2018-12-28_8-04-38.jpg?itok=qDchH2c0\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-12-28_8-04-38.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/2018-12-28_8-04-38.jpg?itok=qDchH2c0 1x\" alt=\"\" width=\"500\" height=\"251\" data-entity-type=\"file\" data-entity-uuid=\"e4980742-2588-4c2d-bff2-279f108f79a2\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>WTI hovered around $44.50 into the DOE print and was very modestly lower after&#8230;.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-12-28_8-03-32.jpg?itok=xdR7Yxbo\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/2018-12-28_8-03-32.jpg?itok=xdR7Yxbo\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-12-28_8-03-32.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/2018-12-28_8-03-32.jpg?itok=xdR7Yxbo 1x\" alt=\"\" width=\"500\" height=\"288\" data-entity-type=\"file\" data-entity-uuid=\"438f9f1b-a8a3-4943-a1f3-47550939a36e\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>WTI Extends Losses After Production Rebounds To Record WTI has slid lower overnight following API&#8217;s surprise large crude build (and no equity pump) and was unable to hold gains after a bigger than expected gasoline build (and tiny crude draw) along with a production rebound to record highs. If U.S. crude output rises, it\u2019s likely [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[185,592,827,4318],"class_list":["post-42066","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-crude-oil-production","tag-oil-price","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42066"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42066\/revisions"}],"predecessor-version":[{"id":42067,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/42066\/revisions\/42067"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}