U.S. crude oil refinery inputs averaged 12.8 million barrels per day during the week ending April 24, 2020 which was 305,000 barrels per day more than the previous week’s average. Continue Reading
The United States shale revolution is over. Production in the Permian Basin, which spreads across West Texas and Southeast New Mexico, has been slowing for months, but the novel coronavirus Continue Reading
Oil demand around the world will not return to the pre-virus levels of 2019 until the fourth quarter of 2021, as countries will be slowly emerging from the lockdowns and Continue Reading
A day after the American Petroleum Institute reported yet another inventory build estimate, at close to 10 million barrels, the Energy Information Administration confirmed a build, saying inventories of crude Continue Reading
After Continental Resources suspended drilling in North Dakota and started shutting in operating wells, now another company has followed: Oasis Petroleum. Reuters quotes unnamed sources that said the company has Continue Reading
US crude inventories again moved higher last week, but the build was blunted by an unexpected uptick in refinery demand, sliding production levels and strong export flows, an S&P Global Continue Reading
North Dakota regulators will hear testimony May 20 on whether oil production at current low prices amounts to wasting natural resources, potentially setting the stage for output restrictions, like those Continue Reading
Nine companies including Chevron Corp ( CVX.N ), Exxon Mobil Corp ( XOM.N ) and Alon USA Inc ALJON.UL have agreed to rent space to store 23 million barrels of Continue Reading
In the last couple of months, the global energy industry has been flipped on its head. As the novel coronavirus pandemic ravaged economies around the world, the energy industry took Continue Reading
Oil product stockpiles at the Port of Fujairah rose 6.1% week on week to 24.65 million barrels Monday, marking the highest level in two weeks, according to data exclusively obtained Continue Reading
