Home / Tag Archives: john kemp

Tag Archives: john kemp

U.S. propane stocks hit record despite strong exports: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Liquefied petroleum gases (LPG) are the fastest-growing category of hydrocarbon exports from the United States, with volumes up almost four-fold since 2012. Exports have grown from less than 200,000 barrels per day in 2012 to an average of 743,000 bpd so far in 2015 and ...

Read More »

Volatility and flash events in the oil market: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Crude oil prices have been more volatile this year than at any time since the financial crisis of 2008/09 and before that 1991, according to standard measures of price variability. Some of the increase in volatility is more apparent than real, however, as every $1 ...

Read More »

Global oil demand slowed to a crawl in 2014: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – World oil demand grew by just 843,000 barrels per day (bpd) last year, the slowest pace for 14 years, outside U.S. recessions. Consumption increased by less than 1 percent to 92.1 million bpd in 2014, according to the BP Statistical Review of World Energy published ...

Read More »

Crude processed by U.S. refiners gets lighter and lighter: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – U.S. refineries are processing the lightest cocktail of crudes for almost a quarter of a century, as they run out of room to switch light imported oils with domestic shale production. In March, U.S. refineries processed crude with an average gravity of 31.95 degrees API, ...

Read More »

Driving is making a comeback in the US: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – California motorists consumed an extra 34,500 barrels of gasoline every day in February compared with the same month last year, state tax records show. The state is just part of a nationwide surge in driving that has pushed U.S. gasoline consumption up by more than ...

Read More »

How do you lose 100 million barrels of oil?: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – Oil-market watchers are struggling to reconcile the large estimated oversupply in the market with the much smaller buildup of reported inventories and narrowing contango in futures prices. Some blame the barrel counters who compile official statistics on supply, demand and stocks. But the truth is ...

Read More »

Oil rallies as hedge funds are caught short: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – Oil’s sharp rally since the middle of March has been driven by a race among bearish hedge funds to cover loss-making short positions rather than any great bullishness about the outlook. On the eve of the rally, hedge funds and other money managers had amassed ...

Read More »

US refineries run hard to absorb crude glut: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – U.S. refineries are running at near-record levels to turn the glut of crude into gasoline and other refined fuels ahead of the summer driving season. U.S. refineries processed an average of 16.347 million barrels per day (bpd) last week, an increase of almost 250,000 bpd ...

Read More »

Rising oil prices put U.S. driving recovery at risk: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – U.S. gasoline demand is running around 300,000 barrels per day above last year’s level, as lower pump prices and continued economic expansion encourage motorists to use their cars more. Estimates for gasoline supplied to U.S. customers published by the Energy Information Administration (EIA) show demand ...

Read More »