Record Oil Exports Help Cut U.S. Trade Gap
The U.S. exported a record amount of oil and fuel in April, helping to narrow the nation’s trade gap while giving the economy a lift. The country shipped $19.9 billion Continue Reading
Oil slumps after big US inventories build
Oil prices dropped on Wednesday after US data pointed to an unexpected build in crude and gasoline stockpiles. During the week ended June 1, US crude oil inventories increased by Continue Reading
Hurricanes Are Lingering Longer. That Makes Them More Dangerous.
Hurricane Harvey over the Gulf of Mexico in August 2017. The storm stalled over Texas and dropped nearly 50 inches of rain in some places. With wind speeds that can Continue Reading
Distillate fuel oil was the most exported U.S. petroleum product in 2017
U.S. Energy Information Administration, Petroleum Supply Monthly Distillate fuel continued to be the most exported U.S. petroleum product in 2017, averaging 1.4 million barrels per day (b/d) of gross exports. Continue Reading
Oil Industry Expects Wave Of M&A Deals
The oil industry expects more mergers and acquisitions in the 12 months ahead, which is a marked difference from just a year ago when everyone in oil was extra cautious Continue Reading
U.S. Biofuels Overhaul Delayed
Washington has shelved indefinitely a planned overhaul of the national biofuels policy that sought to reduce costs for the oil industry, two sources told Reuters, saying the move was the Continue Reading
Plains projects this year debottleneck its Permian crude oil gathering system
Plains All-American Pipeline is focused on increasing the capacity of its crude oil gathering system in the Permian Basin of West Texas and New Mexico, even as it moves ahead Continue Reading
US gas storage expectations dip on warmer temperatures
A survey of analysts expects the US Energy Information Administration to announce a storage injection of 92 Bcf for last week, which is once again below the five-year average and Continue Reading
Trump’s Move To Please Farmers On Biofuels Reform Draws Refinery Union Ire
President Donald Trump has abandoned an overhaul of biofuels policy aimed at reducing costs for the oil industry. June 6 (Reuters) – U.S. President Donald Trump, in yielding to pressure Continue Reading
EIA: US Crude Stocks Unexpectedly Build Despite High Refining Rates
U.S. crude oil stockpiles rose unexpectedly last week even as refineries hiked output to the highest in five months, while gasoline stocks increased sharply as demand eased, the Energy Information Continue Reading