EIA Inventory Report Pushes Oil Prices Lower
The Energy Information Administration reported a crude oil inventory build of 3.7 million barrels for the week to February 15, versus an increase of 3.6 million barrels in the previous Continue Reading
Weekly US oil, gas rig count falls by four to 1,090, level not seen in nearly a year
The US oil and natural gas rig count fell by four in the week that ended Wednesday to 1,090, a level not seen in nearly a year, according to S&P Continue Reading
White House calls off fuel economy talks with California, promises to issue final rule
The Trump administration is moving ahead with a planned rollback of vehicle fuel economy standards after breaking off talks with California, which wants to continue to follow stricter targets along Continue Reading
Summary of Weekly Petroleum Data for the week ending February 15, 2019
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending February 15, 2019, which was 57,000 barrels per day less than the previous week’s average. Continue Reading
Permian Oil and Gas Production to Hit New Records
Oil and gas production in the Permian will hit new records next month, according to the EIA. Oil Production in the Permian will surpass 4 million barrels per day (MMbpd) Continue Reading
Trump Administration Cuts Off Talks With California Over Fuel-Efficiency Standards
The administration wants to cease increasing efficiency mandates, saying that would boost auto sales. California and other supporters of stronger mandates dispute that, and want tougher standards to help lower Continue Reading
It’s Not Just The Permian. Super Basins Are A Global Phenomenon
Forget what you may have heard. Fossil fuels aren’t going anywhere. There is a lot of excitement, and deservedly so, about renewables, but the foundation of our energy supply is Continue Reading
Glencore Pressured To Curb Coal Production
Glencore has become the latest energy heavyweight to succumb to climate change pressure and has announced it will stop raising its coal production capacity, CNBC reports . The Swiss company’s Continue Reading
European Oil Demand Is Shockingly Weak
One of the unexpectedly soft spots in global oil demand recently has been in Europe. To be sure, Europe was never expected to be a major driver of oil demand Continue Reading
Crude oil futures down on API crude stock build, awaits EIA data
Crude oil futures were lower during mid-morning trade in Asia Thursday amid an expected build of US crude stocks last week, while positive comments on the OPEC deal stalled the Continue Reading