Is OPEC Throwing In The Towel On U.S. Market Share?

Oil prices are rallying post-EIA report as today’s crude draw
was joined by a drop in gasoline inventories. Although waterborne
imports were strong last week, OPEC flows to the U.S. continue to
ebb. Hark, here are some things to consider in oil markets today:
Last week we discussed how the share of OPEC crude heading
into Asia was on the wane, as other exporters were muscling in
on the cartel’s market share amid the OPEC production cut deal and
rising demand. Switching our focus to the U.S., we can see that a
similar trend has been underway…

Oil prices are rallying post-EIA report as today’s crude draw
was joined by a drop in gasoline inventories. Although waterborne
imports were strong last week, OPEC flows to the U.S. continue to
ebb. Hark, here are some things to consider in oil markets today:
Last week we discussed how the share of OPEC crude heading
into Asia was on the wane, as other exporters were muscling in
on the cartel’s market share amid the OPEC production cut deal and
rising demand. Switching our focus to the U.S., we can see that a
similar trend has been underway…