Jordan Knauff & Company
Production cuts are expected to keep global oil production below global oil consumption next year.
Factory production, construction spending & U.S. petroleum product exports rise.
JKC pump stock index, payrolls & unemployment rates increase.
Total nonfarm payroll employment rose by 187,000 in July, and the unemployment rate fell to 3.5%.
The Customers’ Inventories Index dropped into “too low” territory (46.2% versus 51.4%), a positive sign for future production.
Average hourly wages were up 4.8% in November over the previous year.
Renewable energy consumption increased to a record high of 11.6 quads.
Fossil fuels still the dominant energy source with oil, natural gas and coal accounting for 81% of global energy consumption in 2019.
The employment index was up 5 points from last month.
Wall Street pump & valve industry watch for April 2021
Global demand for petroleum products fell significantly in 2020.
Latest market analysis shows production index rose to a near decade-long high of 64.8% .
Driven by falling prices and technological advances that enable batteries to store ever-larger amounts of energy, grid-scale systems are seeing record growth.
Fabricated metal products, chemical products, computer and electronic products, transportation equipment, and food, beverage and tobacco products registered growth in November.
The Jordan, Knauff & Company (JKC) Valve Stock Index down 17.3 percent over the last 12 months.
Month-over-month global consumption of crude oil rose by 1 million barrels per day (b/d) during August and September.
BP Plc predicts oil demand will fall over the next 30 years; jet fuel demand remains weak.
Markets rallied for the fourth consecutive month in July despite the resurgence of coronavirus in as many as 24 states.
