EU ENERGY SECTOR: What to Watch
Aug-11 07:32By: David Lee
- IEA are due to release the updated Oil Market Report at 10:00 CET after OPEC monthly report yesterday showed a supply deficit of more than 2mbpd in Q3.
- The latest Baker Hughes rig count data is due for release at 13:00ET. The oil rig count data continues to trend lower down to 525 last week with the gas rig count down at 128.
- The ICE and Nymex commitments of traders reports are due for release after the close today at 18:30BST and 15:30EST. Managed money net long positions for crude and products gained last week as further OPEC+ output cuts have boosted prices. WTI positions rose to the highest since 18 April and ICE Gasoil net positions were the highest since March 2022.
