Oil Markets Fear An OPEC Compliance Collapse

4 Oct 2017   OPEC

Natural gas inventories are down significantly compared to 2016 levels, which helps explain the prices around $3/MMBtu compared to prices much lower than that last year. – Inventories are still a bit above the five-year average, but the surplus has narrowed substantially. Soon storage levels could dip below that average level. – The EIA forecasts inventories “in the Lower 48 states to reach 3,755 Bcf by the end of October 2017, about 48 Bcf lower than the previous five-year average and 222 Bcf lower than at the end of October 2016.” Market Movers – Dominion Energy (NYSE: D) is considering a major expansion of its Atlantic Coast natural gas pipeline, according to the AP, which could extend the project into South Carolina, connecting more Marcellus Shale gas to the U.S. Southeast. – Hess (NYSE: HES) says […]

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