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Fundamental Data Confirms China Already Open

Minneapolis, MN | February 6, 2023 | By: Steve Sinos, Blue Lacy Advisors, LLC

Crude Oil

The Joint Organisation Data Initiative’s (“JODI”) most recent data release, covering 2022 fundamentals through November, appears to confirm what we observed in available trade data, including shipping and satellite tracking of crude and product cargoes. November demand was estimated to be at its highest since February 2022. Chinese demand was up ~1mm bpd compared to October, marking its highest level in 20 months of JODI data. Notably, even with rising demand, Chinese crude stocks are estimated to have increased by ~50mm bbls during 4Q22.

*This summary is based off January 29, 2023

A free excerpt, such as this one, will be published on a delay periodically. This is an excerpt from Blue Lacy Advisors, LLC's (“Blue Lacy”) weekly commentary for clients, which is based on a collection of models, research/analytical subscriptions, and bespoke work. Each week Blue Lacy explores how market drivers included in these analyses might affect or be used in clients' planning, budgeting, and execution of strategy. Call Blue Lacy to make an appointment today!


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Phone: +1-832-413-3124

Steve has spent his career in strategy, risk, trading, and investment. He works with investors to source investments in opportunistic or high growth sectors, with particular interest in early-stage companies solving clearly defined problems.

He is currently a Managing Partner with Blue Lacy Advisors LLC, giving management teams and investors confidence in their decision making by supporting strategic planning and execution, risk management, commodity trading, and market analysis.

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