6 Burst results for "Seven Hundred Thousand Barrels"
Country Morning
"seven hundred thousand barrels" Discussed on Country Morning
"More coming back up Coming through the area one. The next one here would be sunday night into monday morning. A little it's not gonna be as intense as the one that comes through friday into saturday and then the last one in the series probably the weakest of the three Will be coming through sometime around the mid week timeframe reporting agriculture business. I'm megan on the red river. Farm network pro farmer will release the results of its annual tour today. Crop scouts came up with an average corn. Yield for minnesota last night of one hundred. Seventy seven point four bushels spreaker. That's down from one hundred ninety five bushels acre last year. The soybean pod counted a three by three square totaled. One thousand twenty seven down five percent from last year in minnesota. I was corneille just under one hundred ninety one. Bushel spreaker up from one denver. Seventy eight last year. So i've been pod counts total one thousand two hundred eighteen in iowa up from one thousand one hundred forty six pods last year. Traders are nervous with the ongoing world events ranging from what's happening in afghanistan to the delta variant. Na you country vice president of services rich morrison says crude oil has been a big driver in this market that is kind of removing some interest from commodities as an investment class. Right now and so. We're seeing some funds have been stuck around with length and corn and soybeans wheat. For a long long time now some of them are starting to maybe reevaluate those decisions and taking some of their money in taking going somewhere else with china has been actively buying in the us market. It's just telling us. That brazil's out of beans. I think that's what we're finding out. So china's loading up here getting some new crop stuff on the books. I think they've got to have places to send some empty boats and get some loads and so they're starting to buying program and i don't know how many days that's a good question. I would tend to think it's gonna keep going. This market continues to trade a little lower. The weekly energy reports from the energy information administration shows ethanol production for the weekend in august thirteenth. Down thirteen thousand barrels per day from the previous week at nine hundred seventy three thousand barrels per day ethanol stocks down seven hundred thousand barrels in at twenty one point six million. This is the red river farm network farm news on the red river farm network. Usda yesterday confirming that china bought two hundred sixty three thousand tons of soybeans. That's the eleventh consecutive day of trading with a flash sale iowa state university extension economist. Chad heart says this is positive news. There's a seasonal pattern to chinese by. They tend to start here in august and you know build their way up and they tend to be active for basically until we get the january february. You can think of this six month window. Sorta starting close to harvest is win. China tends to buy soybeans from us here. And that's definitely what we're seeing this year. China continues to be one to watch as we're thinking about whether it the corn soybean or the wheat market china has been incredibly aggressive over the past especially twelve months. And some of that's related due to you know just you know the growing economy there the rebuilding african swine fever but some of these sales are also linked to that phase. One trade deal. We signed with them back in january. Twenty twenty and one of the things. I'm watching here is okay. We're under the sort of the last several months of that. That deal sort of if you will expires as we get to the end of twenty twenty one in terms of what's required if the pace of china's sales are similar to twenty twenty heart says it would be a good year for farmers. Adm has inked in agreement with marathon petroleum to form a joint venture which will own and operate the spirit would north dakota soybean processing facility. Adm took over the facility earlier this summer. Now with this deal adm alone seventy five percent. Marathon petroleum will own the remaining twenty five percent when complete in twenty twenty three. The spirit would plant will produce six hundred million pounds of refined soybean oil per year. That will offer enough feedstock for seventy five million gallons of renewable diesel fuel per year biofuels role and climate change and the infrastructure. Discussions are top of mind as the american coalition for ethanol meets in minneapolis for its annual convention. This week red river farm network broadcaster care heart has the story when the senate passed the first phase. Bipartisan infrastructure. package earlier. This month and investment in low-carbon biofuels was not included american coalition for ethanol ceo. Brian jennings still thinks that was a missed opportunity. Representatives are preparing to return to washington next week to work on infrastructure representative. Angie craig of minnesota join us in person and talk about the fact that as these infrastructure bills make their way over to the house. Both the bipartisan legislation. That already passed the senate and then the proposal. The democrats intend to take up on their own. Which is the the so called reconciliation. Bill that she's going to make it a priority to try to get something for ethanol in those vehicles possible that could be restoring year round e fifteen it could also be additional infrastructure assistance. Point she made is if they're gonna put money on the table for electric vehicle charging stations. They damn well. She put money on the table to make sure we have Incentives in place for the infrastructure for fifteen thirty in the eighty five to biofuels industry wants the attention of not only congress but also president biden. How will they capture that attention. Because just incumbent upon groups like ace in the corn growers to make sure that we are not simply playing defense against electric vehicles but going on offense ourselves in promoting the low-carbon benefits of ethanol today. And so. I think that's the responsibility we have. Today is the final day for the conference. The lineup includes a closer look at climate change and expanding ethanol usage around the globe reporting. Agriculture's business. I'm keira heart for the red river farm network. The drought changes the physiological physiological portions of that plant and pioneer field agronomist. Clyde tiffany says that's pushing corn and soybeans to maturity. You're seeing the the beans turning. You're seeing corn fully dented once it hits dent stage. It's usually about three to four weeks before you hit black layer which is physiological maturity. Still gotta deal with dried out but if we continue on this piece and i on this pace This we're going to see earlier harvest for for both crops. Tiffany says farmers will need to stay on top of the timing for harvest but fully anticipate things are gonna go earlier this year. Which for some guys. They've mentioned well. Maybe they won't use as much propane at harvest to dry which is a positive for Their their input costs and a lot of times. If you get natural feel dry down the grain quality is also higher. The downside is you start getting harvest losses. This is the red river farm network circus release. Spot has been a challenge for sugarbakers for years. I'm john samdahl. Sales manager with beta seed and i know firsthand. The impacts are cost per house on growers and their bottom line. That's why i'm excited about a new ally.
CNBC's Fast Money
"seven hundred thousand barrels" Discussed on CNBC's Fast Money
"Back in the permian and where the economy is not gonna be able to handle the economy doesn't have that much so they'll be a tipping point. Supply the top right here. Big coal by jim now. Oil settling down more than two percent today after hitting year highs just last week the wanna make too much. We're still above worry. Were basically a month ago but when oil goes down you know what else falls energy stocks the sector certainly has been the worst performer in the snp today. Down about seven percent this month after being red hot to begin the year. Dan you kinda hit on this last night. Talked about oil you also. It sounds like would agree with jim. You think there is a near or shorter medium-term peak for the price of oil well. It sounds like brian that jim agrees with me. Because i said it last night we call that scooping them in the business. I would say gyms genius and listen. He's looking at a lot more inputs. That i'm looking at and the things that i'm thinking about very simply are that china. Gdp print while it was still pretty good at seven point. Nine percent came in below expectations. We also know that. They took some stimulus measures late last week. We know that. Mike santoli just set it on the closing bell the gdp now the atlanta fed forecasts for q to gdp on has come down a bit ours is expected to be seven point nine. It was ten percent just a month ago. So when you think about the pace of the recovery. Crude oil is one of the last industrial commodities. That really hasn't come in yet and to your point also. The oil stocks are leading the way the age is down twenty one percent from its recent highs and the x. l. e. which is made up largely of those large integrated is down about eleven percent from those recent high. So i think it's interesting that the stock rolled over before the commodities commodities down about seven percent in the last couple of weeks not a disaster by any means but if some of the data start starts coming in a little weaker crude is going to be on. I think very similar course to some of the other commodities that we've seen come coming of late like copper and maybe even lumber wealth. It's lumber dan. I mean that's a whole different ballgame because i've never seen a commodity move like that guy adani. How much of this do you think has to do with interest rates. I don't like talking about bonds. They're boring they're tankers. They moved slowly. But mike santoli also talked about it as rates. Go down. the big cyclicals tend to get hit. I wonder how much of this is less fundamental more rate driven. If any part of the story no question about it. I think part of the story is the fact that the dollars gotten off the mat. The dollar has rallied. obviously there's this seemingly concern out there that this variant strains it's going to cause a slowdown in your possibly over here. Just as we speak. You know a few minutes before the show. The yankee game tonight against the red sox got postponed on the back of covid fear. So there's obviously those concerns so the slowdown aspect is out there. But then made a great point. The equities have led the names that i have liked for example which made a rocket ship. I thought to one hundred stopped at ninety four. Look at how quickly that stock is given basically almost the entire move back trading seventy seven now so although crude the commodity is just starting seemingly turn some of these equities have led begs the question equities bottom before the commodity. I think that might be the case. I know we have a great thirteen. Your chart we're going to look at the. Dan pointed out the shows that we basically bumped up against a huge downtrend line. Going back to two thousand and eight so it leads you to believe that maybe the commodity starts to roll over. I just wonder though if the if the worst is over for the equities. Well tim let let's. Let's stick on this. But i want to go to some sound today from treasury secretary janet yellen because there is a great fear around the world around the the delta very thank goodness in the us the rene vaccines pfizer. Moderna look extremely effective in preventing symptomatic or serious cases at cdc again. Not my opinion europe. They have more astrazeneca less effective. I only bring that up. Not because we want to talk about science and vaccines but because goes to the demand for oil story. It goes to the economy story. Here's what janet yellen had to say about one of her concerns around the delta variant on. Cnbc earlier today. I do think it's a risk. I think it's just a question of the united states. It's a question of risks around the world. I am very concerned that although advanced countries you're making good progress with vaccination in many parts of the world and especially in low-income countries. Vaccination rates are extremely low It is long. It's that's true and this virus easily transmitted bowl or across borders. We really have to worry about the development of on very instinct could pose on future threats. So tim your take. Well we're talking about demand factors and and again guy. Maybe it's just people don't want to drive to the bronx so some of that gas demand is part of this Jim was talking about supply dynamics and i think supplies so much more important when we're thinking about oil and how we thought about for the last ten years and if you think about He's talking about production. You know opec was out there. Even saying they think non-opec production is is gonna be roughly two point one million barrels next year of additional oil on the market. They're also saying though that they think there's going to be an additional three point three million barrels of demand and but again the. Us will be probably. I think you know seven hundred million seven hundred thousand barrels a day of that demand. Look i think the other supply side dynamics here or looking at where oil stocks are for the developed nations. Again the places where you're gonna be highest oil demand. And i think we're we're back below twenty fifteen averages on on where those stocks are so i think this is a case of where the market is position so different coming out of this. I care a lot less about demand and also just say that. I think if you look at where the overall oil companies As investments and gas companies and exploration companies are as investments for investors. These are companies that have changed their approach to their balance sheets to when they raised a lot of debt during the last couple of months couple of years and they're doing it to spruce up their balance sheets not to drill at all costs and i think that's very different and very under appreciated by folks that are looking at the energy trade. I think these companies are are much more investable than they've ever been honestly tim. You're exactly right. I mean they were. And i hate to use this term. I mean they were stupid for years and they spent all their money drilling holes in the ground literally threw money into the ground and now by the way minium our heads at fifty five bucks. They don't have the prophet. I don't think to drill. We'll see though nadine. I'm gonna come to you but i'm gonna..
Oil and Gas Startups Podcast
"seven hundred thousand barrels" Discussed on Oil and Gas Startups Podcast
"Podcast this is episode seventeen. Today's friday may twenty first. Twenty twenty one is the day after. Ethan bellamy's birthday happy birthday 'then very much tricia you know it's funny Text me one thirty about the Usually it's about something else. So thank you very much for lalo smokes like twelve hundred ninety three new things so we have. It has been an action packed. We talk that. I'm excited to talk about all the stuff that's going on around the world and here at home we are coming to you. Live or recorded from axles ten here ten colorado. Welby doesn't work landscapers next door but you make do with what you have so right now. Is our podcast studio so to to cover at least at a minimum oil prices around the i a hilarious report that came out and we can walk around the world is it's hurricane season already guests at three bucks because of some outlook from nolan cool weather last night though. I mean it so today. We're at sixty three. W last night. I saw sixty one in change and that was one of the morning but sixty wanted to change. So i mean i this oil price market piece. I think i'd love to kind of dive into this thing with iran. I do think i do think. Iran is weighing on the market. We have a ceasefire that does seem to be holding the in the with israel and palestinians in gaza. Although i heard that there's some police issues going on with in jerusalem so it doesn't look good. That's that has really weighed. This is really hasn't on the oil market too much. So we're hearing positive stuff out of from ruhani from the iranian leadership saying. Hey things are looking really good view weeks ago as well and i think it was. Lincoln had to get off. Get get on tv and based now. We're not doing we. We haven't agreed to anything at so. He's sort of pushing this and who's the this is lincoln secretary of our secretary of state. Jay cigarette blinken is another long republicans who listen to this podcast who have intentionally associated with every out by sector state so yes so he he got on tv and this was a few weeks ago. And said hey. We haven't agreed to anything well and he's been saying that in in stuff so iran though the leadership's last night you're seeing oil prices slide This past week and you're saying Does seem to be the iran be One demand outlooks are a little bit concerned for given everything happening in india With but i think it has more to do with iran acceleration something like two hundred fifty thousand per day new cases in india. Yes the end. Honestly india to be the. I think the concerns around. Covert are still relatively muted because the effectiveness of the vaccine in the. Us has been so good so kind of. I think the market in general has has looked at everything instead. Essentially pfizer in return have proven effective in as spreading south. They can stocks so these countries get it. I think the thought is it will stop in. India has refused to do lockdowns like they did before because they don't have the same type of countries we do end. Their people live very very tightly together. And they had people that couldn't get home and couldn't get from region to region and it was major major dislocations problems so they sorta refused to do the same lockdown they had so they're kind of living with the situation and i think it was three hundred fifty thousand cases per so cases per day of leave our come down to a degree and his pockets. It's very messy. It's really bad but they did. Just say india just said there. There are refusing ellen. G shipments of trying to rework ellery cargoes basically impact on energy demand. One hundred percents yanji. Oil's going to be impacting. But it's it's a short term thing. So that's her. I doug oil the second one is. The china appears to be stepping up crude imports now and is undergoing a full recovery which is more than demand indicator. The people are looking. Yes and there'd over there over eleven million but their eleven brisbane change always between eleven and twelve of curl of imports. That tricky thing there is that there are also exporting. I saw their exports for products. Were up so which is good in that. You're you know you see that. The market's healthy so it means that other countries are demanding. So i think in twenty fifteen twenty six one of the things. That happened was We were able to sort of support or at least china is able sort of time support the market. We didn't have the massive crash because they could they were exporting to do Tech san suffered product. They weren't obviously able to do that during covid. And now we're seeing about one point. Seven million barrels of eight product experts which means the extra healthy but also means they're exporting so. The refineries are running well which is great for refiner profitability in china. But it also means that they're not consuming it so just have context That happens if you historically look at most countries. If you have a lopsided they're demanding more desolating the diesel etc they're going to be exporting so it makes sense but it's important to know if you're if you're exporting in dc not you're not consuming it and that's just something to flag focus. Oh back from channel dementia to iran in the supply side. They have a bilateral agreement. they will. The iranians will export to china in the context around why the jcp in the iran deal matters. Is that right now. Reigns at about two point. Four million barrels per day and pre-sanction. They were at about three point. Nine million barrels per day so the mark is basically digesting another million half girls a plus of potential supply coming on the market. The russian oil minister said the market can easily digest that. But clearly there's sort of this herky-jerky restart demand growth. And you know new supply growth coming online potentially from opec cheating indoor increased quotas and therefore. That's why we probably getting this oil volatility in the sixty to seventy delridge adding so there's a summer as well. I think there's a couple of things there's a couple of things with ron. And i want loop back make sure mature lupatkin hint disinflation. Because i do think it's important. Because i think it's actually a positive and bullish for furlough investment and sentiment but so iran. I mean he looks to opec figures from over report that came out on in last week. Those show that iran's north of two million barrels a day and they've basically everybody said they inch their way up. We talk about these podcasts. That china's state barrels they sorta send them to defer country. They label miss something else. So we know china's getting between a half a million two million barrels a day from iran. Now that's a decent amount and so has increased so we see a middle east. Economic survey knees puts up their of their numbers at just just like almost seven hundred thousand barrels per day for for iranian experts greene county basically from the returning so they had two and a half million barrels a day that they were exporting that obviously came down considerably now the pushing north of a million barrels a day but actual production were showing from opec is north of two million barrels per day. And the thought is that they will go back to. They can easily add a million to two million barrels a day. A production relatively quickly. And i think what's interesting too. That is that there was an article from is probably a should. There was everywhere. But iran is a bloomberg article said iran to start oil exports or skirting troubled straight so iran has actually has a pipeline ready to go so the timing all this is interesting the fact that iran's leadership is pushing to go ahead and he you know..
Oil and Gas Startups Podcast
"seven hundred thousand barrels" Discussed on Oil and Gas Startups Podcast
"It's making sure the hatches are and this sounds simple and if people main listeners in the history will say we fix a lot of that. There are a lot older companies out there. They're hatches that need to be checked in this. I grew up around production on my dad. Pump oh wells. My grandfather pumped oil wells and trust me. You need the right people to do it right. And they're actually know what they're doing the shutting off valves no doing this stuff there ways to address the simple stuff of this first and then you really go after the hard stuff and that company. That dinner was hilarious. Because he was there and i showed up late and i was sort of dragged into the dinner and then i saw him at the table which was really funny. The conversation was it was. It was the first time. I've been out to dinner with eighteen people in those a lot of sure. We re probably violating some law. So i'm just keep that on the deal. Police would not be happy about that. We're where we are in denver folks. So yeah we. There was no marijuana smoke at dinner. Renault zillah saban mushrooms. Out on the table We managed to escape by the homeless people that were outside which the denver folks wanna just allow to vacate the city center. Now tricia doesn't want me to get to political. But i'm just going i. I don't have a problem with real quick to. I'm gonna go back real quick to dakota access. No hold on. We'll get we'll get there and just say to gulf of mexico on we're going to talk about the gulf of mexico for for bp. So the gulf mexico's actually a pretty big deal. We talked about this executive order because both the secretary one or number three three nine five and then this executive one which includes all federal land and water and so it is a bit of an issue when we think gulf mexico. I if you fall production. We had this big up taken production in the last day. Two november because gulf of mexico production dropped seven hundred thousand barrels. Dan came back. So we're north of eleven million barrels per day now again because the gulf of mexico but for these operators pretty big deal. Because it's a it's a chunk of their production and they have these leases and chevron mentions. They're like well we have the. Lisa's assumed that we're gonna be able to get the permits gets a little tricky of like. Are you going to be able to get the permits or do you have like. They don't actually know yet. And the same thing for the same thing for bp is that obviously they have a position in offshore and they basically say hey. We welcome all this legislation. We welcome being in the paris climate accords and everything and so they sort of pay lip service that this is just not not a big deal. And i think there is some real risk that we would see declining production. It were we organised declining production in the gulf of mexico if indeed these operators cannot have these permits although to be fair in the gulf of mexico this is much larger capital intensive operations. So you just don't do it you don't do it. Willy nilly You can't just do a ten million dollar you something for ten million bucks an backout so this is something long. Large capital outlays. That's a lot different than than onshore. Us shale but is it something important. Because i think we can see a drop. Production and also the gulf of mexico provides a massive amount of revenue To the federal coffers. And it's a really important to realize that there doesn't matter though it's m. t. We just run the credit card up. Apparently yeah so. Don't matter wall street journal a pretty good job on unsighting. The studies though a university of wyoming study putting the hundreds of millions..
All In with Chris Hayes
Climate protesters arrested at Texas port during U.S. presidential debate
"Take a look at this this is the Houston ship channel and connects the Gulf of Mexico to the port of Houston and is one of the busiest waterways in the country and it's America's largest fossil fuel thoroughfare now last year seven hundred thousand barrels of oil traveled through this channel every day and if if you WANNA get your Texas T- through the Houston ship channel there are pretty good odds that you're oil-tanker. We'll have to pass right underneath the Fred Hartman Bridge to get out into the Gulf of Mexico and that's why Greens Greenpeace activists chose the Fred Hartman Bridge for the scene of a pretty dramatic protests. Take a look yellow L. A. closely eleven protesters repelled off the side of the bridge this morning and suspended themselves more than one hundred feet above the water Greenpeace said they intended to remain in place for twenty four hours with the goal of blockading the Channel Preventing Oil and gas from being transported through the waterway. They've had some success there. A portion of water traffic ethic has been stocked Greenpeace chose this day and dislocation for the demonstration. Because of course the Democratic presidential candidates are in town for tonight's debate debate as one of the activists told the Houston chronicle quote. We are in a climate crisis. The next president has the opportunity to lay the groundwork for a world without fossil fuels rules. We need to act today. I should tell you earlier today. Local sheriff's deputy said they would not force the activists to move unless they became a health or safety hazard but a couple of hours ago as you can see sheriff's office began an operation to remove the protesters as far as we know most of them are now in police custody just to remind on your by the way climate change is going to be the subject of our twenty twenty four. I'm starting one week from today where Chris Hayes and I will be asking presidential candidates about their climate change plans and they'll be fielding questions from young voters on climate issues the forum will air live on NBC News Now and parts of it will be featured right here on all in again. That's September nineteenth twentieth and we hope you'll join
Masters in Business
Stocks, EUR rally on data; oil higher ahead of OPEC meet
"Westwood one podcast network a question on a street our long new york state geometry quiz has been resolved correspondent pat piper has both correct answers question thirty one in new york regions geometry exam given last tuesday ask students to determine the volume to the nearest cubic inch of an inflated basketball with a circumference of twenty nine point five inches now in case he didn't figure it out already the state said four hundred thirty four was the correct answer but on wednesday announced it could also be four hundred thirty three in a prepared statement the state said the possibility exists that few highly proficient students may approach the question differently than envisioned by the new york state educators and department staff i'm pat piper the cleveland cavaliers are in talks with their star lebron james whose contract option as a free agent has to be decided by next friday will cleveland be crushed again i'm christopher cruise i'm susanna palmer from bloomberg world headquarters president donald trump threatened to twenty percent tariff on cars imported from the european union that's unless the block removes import duties and other barriers to us goods a european commission memo obtained by bloomberg shows the eu is planning to retaliate documents seen by bloomberg shows turkey's government will impose additional taxes on imports from the us including vehicles alcohol and food items this in response to president trump's decision to raise tariffs on steel sold by turkish companies opec and its allies will increase the flow of oil major producers outside the organization of petroleum exporting countries including russia mexico and kazhakstan we'll meet ministers from the cartel today for delegates said those producers will okay a plan to add about seven hundred thousand barrels a day of crude to the markets starting next month but paul sankey oil and gas analyst at mizzou ho says triple digit prices for crude are on the radar are we think you're going to one hundred hundred twenty dollar oil over the next two or three years but for now i think you know we've tempered it and it'll become less of an issue west texas intermediate was last quoted at sixty eight fifty barrel new york post reports craft heinz is interested in buying campbell soup and believes the soup makers management will start a sales process soon the post cites a source close to the situation the report says general mills is also seen as a possible buyer of campbell soup china's xiaomi corporate plans to raise up to six point one billion dollars in one of the biggest global stock market debuts this as it tries to become a worldwide brand right alongside apple google and amazon details released today show the initial public offering and hong kong would value show me which is based in beijing at as much as seventy point three billion dollars global news twenty four hours a day on air and it ticked up on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm susanna palmer this is bloomberg vc's masters in business with barry ritholtz on bloomberg radio my special guest today is dr raven giovinazzo he is.