US DATA: EIA says US ethanol production and inventories fall
US ethanol production averaged 926,000 b/d for the week ended Sept. 11, a decrease of 15,000 b/d on the week and down 77,000 b/d year on year, data from the Continue Reading
GM to lead design, development and manufacturing of own family of next-generation EV drive units and motors: Ultium Drive
General Motors announced that it will design, develop and manufacture a family of five interchangeable electric drive units and three motors, known collectively as “Ultium Drive.” GM said that Ultium Continue Reading
Hurricane Sally cuts off power to more than 540,000; power demand sinks 16%
Houston — More than 540,000 electricity customers lost service across Alabama, Florida, Georgia and Mississippi after Hurricane Sally made landfall early Sept. 16, sapping power demand by 16.4% from forecast Continue Reading
EIA data shows US crude stocks fall amid refinery rebound, import decline
US crude inventories declined in the week ended Sept. 14 as refinery demand rebounded following Hurricane Laura and imports flagged, US Energy Information Administration data showed Sept. 16. Commercial crude Continue Reading
Hurricane cuts a quarter of U.S. Gulf of Mexico energy output, dampens fuel demand
More than a quarter of the U.S. Gulf of Mexico offshore oil and gas production remained shut on Wednesday by Hurricane Sally, which moved inland dumping heavy rains and cutting Continue Reading
Fading fiscal stimulus restraining U.S. consumer spending
U.S. consumer spending slowed in August, with a key retail sales gauge unexpectedly declining, as extended unemployment benefits were cut for millions of Americans, offering more evidence that the economic Continue Reading
EU chief says UK cannot change EU-UK withdrawal agreement
The president of the European Union’s executive arm said Wednesday that the United Kingdom cannot unilaterally change the bilateral Brexit agreement without destroying global trust in the country. Insisting that Continue Reading
Germany Offered U.S. $1.2B To Save Nord Stream 2
Germany tried to dissuade the United States from following through on its threat to impose additional sanctions on the Russia-led gas pipeline project Nord Stream 2 by telling the U.S. Continue Reading
What BP Got Wrong About Global Oil Demand
Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook 2020. It Continue Reading
Crude rises in Asia trade as upbeat US, China data lifts sentiment
Crude oil futures rose during mid-morning trade in Asia Sept. 16 as sentiment was boosted by better-than-expected economic data from the US and China. At 10:41 am Singapore time (0300 Continue Reading