Our View

Time for Low-Cost Middle Eastern Producers to Abandon OPEC?

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Crude Oil Open Interest

Change in open interest in three primary crude oil futures contracts since November 8, 2016. Click on the table to enlarge it.

Twelve Weeks to Backwardation (July 17, 2017) -- The WTI crude market is three months away from backwardation, at least as measured by the sixth crude spread (sixth future less cash).

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