Highlights US crude stocks fall 4.09 million barrels Production hits four-week low Delta variant spread presents headwinds Crude oil futures settled higher July 28 on the heels of a US Continue Reading
Oil advanced to the highest level in two weeks after declining stockpiles of U.S. crude, gasoline and distillate signaled healthy demand during the nation’s summer driving season. Futures rose 1% Continue Reading
Highlights Coal forecast 18% higher in 2021, renewables up 7% Coal was largest source of US electricity until 2016 Renewables account for 80% of 2021 additions Renewable energy generation became Continue Reading
Higher oil prices and higher exports resulted in a 147-percent jump in the value of Saudi Arabia’s oil exports in May 2021 compared to May 2020, data from the Kingdom’s Continue Reading
Iran’s Jask oil terminal is now fully set to start loading vast quantities of crude to any major buyer in the world via the Gulf of Oman, with the first Continue Reading
Highlights Two wells drilled simultaneously on Stabroek block Encountered 246 feet and 167 feet of net pay Adds to block’s 9 billion boe total resource estimate An ExxonMobil-led consortium has Continue Reading
U.S. oil output could take more than four years to reach pre-pandemic levels, oil producer Hess Corp (HES.N) said on Wednesday, sticking to its spending plan despite rising demand to Continue Reading
Surging prices for plastics are likely to help Exxon’s petrochemicals division post record-high earnings this week when the company reports its earnings. Items like flooring, roofing and packaging all saw Continue Reading
Highlights US crude exports average 2.489 million b/d last week: EIA Flows to Europe estimated at 678,000 b/d: Kpler Tight exports economics could hamper flows into August US crude exports Continue Reading
U.S. crude stockpiles last week fell to their lowest since January 2020 as imports and production dropped, the Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) fell by 4.1 Continue Reading
