Oil little changed after record crude draw at U.S. hub
Oil was little changed on Thursday, as prices eased early in the session, but were supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub. Continue Reading
U.S. crude stocks drop, led by record outflow from Cushing hub: EIA
U.S. crude oil stocks fell for a ninth straight week, led by a record drawdown at the U.S. storage hub in Cushing, Oklahoma, the Energy Information Administration said on Thursday. Continue Reading
BHP Billiton continues U.S. shale exit plans
Australian energy and mining giant BHP Billiton said Thursday it was on pace start selling off its U.S. shale assets during the first quarter of the year. In August, CEO Continue Reading
Florida Democrat plays hardball on Trump’s offshore drilling plan
A Florida senator at the heart of the pushback on President Trump’s offshore drilling plans said he was blocking federal appointments in a move for clarity. U.S. Sen. Bill Nelson, Continue Reading
Summary of Weekly Petroleum Data for the Week Ending January 12, 2018
U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending January 12, 2018, 448,000 barrels per day less than the previous week’s average. Refineries operated Continue Reading
IEA Sees ‘Explosive’ Growth in U.S. Oil Output As Prices Rally
Gains in U.S., Canada will outweigh steep drop in Venezuela Venezuela had biggest unplanned production decline in 2017 U.S. oil output is set for “explosive” growth this year as prices Continue Reading
U.S. Oil Output Expected to Surpass Saudi Arabia, Rivaling Russia for Top Spot
Surging U.S. crude oil production this year is expected to surpass output in Saudi Arabia and rival that of Russia, the world’s two largest oil producers, the International Energy Agency Continue Reading
U.S. oil production sets new record, setting stage for what Trump calls ‘global dominance’
Funny thing about our president and the whole “so much winning” thing. We may very well be doing all the winning he promised, but it won’t seem like it to Continue Reading
API Reports Seventh Large Crude Draw In Seven Weeks
The American Petroleum Institute (API) reported a large draw of 5.121 million barrels of United States crude oil inventories for the week ending January 12, marking seven large draws in Continue Reading
EIA: Shale Oil Output To Rise By 1.8 Million Bpd Through Q1 2019
American crude oil output is set to rise by 1.8 million barrels per day from the nation’s largest shale producing areas over the next year, according to new forecasts by Continue Reading