Week of April 24, 2017

  • Oil prices fell over 2% Friday on concerns that increasing U.S. production and high inventories will neutralize OPEC attempts to push prices up
  • OPEC and non-OPEC members will meet May 25 to decide whether to extend cuts of almost 1.8 mm. BPD
  • Demand for crude is currently weak but should improve as refineries come on stream following maintenance in advance of the peak summer driving season
  • Henry Hub natural gas spot price increased from $2.99 per MMBtu to $3.12 as producers began storing gas for next winter’s heating demand

 


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