Nigeria spared as seven OPEC+ producers raise output by 188,000 bpd
Other OPEC+ producers are increasing output, adding crude supply to the market.
Source →The trace
How it reaches your house.
Starting from Canadian crude oil imports, we walked the supply graph hop by hop to the goods you buy and the companies you own. Each step is the engine’s reasoning, scored for confidence and cited where a source backs it.
First impact
Gulf Coast crude oil feedstock (jet fraction) →supply upMore crude feedstock on the Gulf Coast eases a critical jet-fuel input constraint, so downstream jet fuel becomes more available.
90% confidenceCanadian crude oil imports →supply upSaudi Arabia is one of the seven OPEC+ producers raising output by 188,000 bpd, and it accounts for 4.9% of Canadian crude oil imports, so this supply source becomes modestly more available.
78% confidenceCanadian crude oil imports →supply upIraq is among the OPEC+ producers increasing output in the quoted move, and it supplies 3.3% of Canadian crude oil imports, so imported crude from this source should become slightly more available.
Hop 2
Jet fuel →Prices easeGulf Coast crude oil feedstock (jet fraction)
Jet fuel depends critically on Gulf Coast crude feedstock, so added OPEC+ crude supply should ease that input market and pressure its price lower.
84% confidenceSaudi Arabia →supply upMixed Natural Gas Liquids (NGL Stream)
Saudi Arabia supplies 12% of this stream, so more hydrocarbon production should increase NGL availability.
84% confidenceSaudi Arabia →supply upSaudi Arabia accounts for 11.96% of supply, so additional output should make marine diesel and bunker fuel more available.
Hop 3
Elemental Sulfur (from Oil/Gas Processing) →supply upMore elemental sulfur from oil/gas processing increases availability of a core feedstock for sulfuric acid production.
90% confidenceMixed Natural Gas Liquids (NGL Stream) →supply upMore mixed NGL stream availability should translate into more propane available for home use, and this edge is marked critical with very high dependency strength.
87% confidenceElemental Sulfur (from Oil/Gas Processing) →supply upHop 4
Seafood and fish →Prices easeSeafood and fish depend critically on marine diesel and bunker fuel, so additional crude supply should ease this input’s price via lower fuel costs.
82% confidenceFertilizers and crop inputs →supply upElemental Sulfur (from Oil/Gas Processing)
Higher OPEC+ crude output raises oil/gas processing throughput, which typically increases recovered elemental sulfur supply and eases this critical fertilizer input.
79% confidenceTarga Resources Corp. →Prices easeHop 5
SandRidge Energy, Inc. →Prices easeTarga Resources Corp. (Targa Pipeline Mid-Continent West OK LLC)TRGP
Targa is a disclosed purchaser of SandRidge's production, and the added OPEC+ crude supply should lower the price of those barrels/NGLs it buys.
66% confidenceHighPeak Energy, Inc. →Prices easeDelek is a disclosed customer accounting for 82% of HighPeak's revenue, so a market-wide crude supply increase should pass through as lower prices on the volumes sold to Delek.
64% confidenceSandRidge Energy, Inc. →Prices ease
Where it lands
What you buy, and what you own.
Goods you buy
Jet fuel · Cooking oils · Sulfuric acid · Propane (home use) · Fertilizers and crop inputs · Seafood and fish · Asphalt and paving materials · Palladium and platinum group metals · Cement and concrete
In the MyPRIA app, this is checked against your own holdings.