Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (203485)	1/28/2011 11:33:48 AM
From: Wharf Rat	Read Replies (3) \| Respond to of 361355

My guys aren't sure what's going on. Been talking for a few days about the growing spread between WTI and Brent. Not much yet, today. Metals moving up. = elwoodelmore on January 28, 2011 - 9:49am Permalink \| Subthread \| Comments top haven't seen this one posted: UAE, Saudi raise oil output Opec output rises 350,000 barrels per day in January emirates247.com. Darwinian on January 28, 2011 - 11:14am This is interesting. As late as January 20th it was reported that OPEC Refuses to Increase Output even if oil reaches $100 a barrel. Most of the reporting agencies were reporting OPEC increased output by around 350,000 bp/d in December. OPEC, in their Monthly Oil Market Report said they actually increased production by 171,000 bp/d in December but that was after they revised November production down by 138,000 bp/d. Tanker Tracker oil movements say OPEC deliveries were down in January but are starting to increase slightly in February. Tanker Tracker movements do not include Ecuador or Angola. This could throw things off as it did in December. Angola December production was down 103,000 barrels in December. They could be back to normal in January accounting for about 100,000 bp/d of that OPEC increase. The big increases in December came from the UAE up 77 kb/d, Saudi up 62 kb/d, Kuwait up 32 kb/d and Venezuela up 36 kb/d. Anyway OPEC's new Monthly Oil Market Report will be out February 10th with their January production. We shall see what they say, or rather what their "secondary sources" say they actually produced in January. Ron P. Darwinian on January 28, 2011 - 9:52am The MTI-Brent spread is closing fast today. I turned on the TV at about 6:30 CST this morning and the spread was over $12. It is now $10.56. WTI is up $1.41 while Brent is only up $0.22. Ron P.