U.S. drillers add oil rigs, Permian count near four-year high: Baker Hughes
The U.S. oil drilling rig count rose this week for the first time in four weeks, boosting the number of rigs in the nation’s biggest oil field to the most Continue Reading
IEA Lowers Oil-Demand Growth Forecasts
The demand revisions come as oil prices surged to four-year highs in early October, with Brent crude—the global benchmark—temporarily breaching the $85-a-barrel threshold. Prices have been bolstered by declining Iranian Continue Reading
Oil’s $133 Billion Black Market
Oil is still the world’s leading energy source, with growing demand, a fluctuating pricing system, and much of its production in volatile regions. The oil market’s value is larger than Continue Reading
China’s September crude imports mark highest in four months
China’s daily crude oil imports in September hit their highest level since May, customs data showed on Friday, as independent refiners looked to shore up their inventory ahead of winter. Continue Reading
Summary of Weekly Petroleum Data for the week ending October 5, 2018
U.S. crude oil refinery inputs averaged 16.2 million barrels per day during the week ending October 5, 2018, which was 352,000 barrels per day less than the previous week’s average. Continue Reading
Hurricane Michael Shutters 700,000 Bpd Of Oil Production
Hurricane Michael hit the Florida Panhandle with winds of 155 mph yesterday and is now moving north, albeit as a weaker , tropical storm. The hurricane shut in more than Continue Reading
U.S. crude stocks rise as refining slows, gasoline builds unexpectedly: EIA
U.S. crude oil stockpiles rose last week for the third consecutive weekly build as refineries continued to reduce output for seasonal maintenance, while gasoline inventories grew unexpectedly, the Energy Information Continue Reading
Donald Trump Is Rerouting the World’s Oil Tankers
U.S. President Donald Trump is redirecting global oil flows. West African and Latin American producers are sending ever-growing volumes of crude to China. America’s exports to the Asian country have Continue Reading
U.S. Gulf of Mexico daily oil output cut by 42 percent due to Hurricane Michael
U.S. Gulf of Mexico producers have cut daily oil production by roughly 42 percent and natural gas output by nearly 32 percent due to Hurricane Michael, the Bureau of Safety Continue Reading
U.S. oil output to grow faster than expected to record in 2018: EIA
U.S. crude oil output in 2018 is expected to grow more quickly than previously forecast to a record high, according to a monthly U.S. government forecast on Wednesday. Crude production Continue Reading