Crude Oil Storage

Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus

CNBC


Oil & Gas 360 Editor’s Note: Excellent CNBC Fast Money Interview with Scott Sheffield, CEO, Pioneer Natural Resources. Scott talks about several key points:

  • He has asked President Trump to get involved with the price war between Russia and
Source: Houston Chronicle

The oil glut is filling up the world’s supertankers fast

Houston Chronicle


The world’s oil tankers are being filled with crude at a record pace as the options to store a glut on land rapidly diminish, one of the industry’s largest owners said.

A combination of surging production from key …

Column: Global oil storage to fill rapidly as consumption plunges – Kemp

Column: Global oil storage to fill rapidly as consumption plunges – Kemp

Reuters


LONDON  – Global oil storage is filling up rapidly as the coronavirus pandemic reduces consumption by tens of millions of barrels per day (bpd) while leading oil producers have yet to rein in their crude output.

No comprehensive data …

Source: Houston Chronicle

U.S. Halts Plan to Buy Crude Amid Uncertainty Over Funding

Houston Chronicle


The Trump administration halted plans to start buying oil to top up the nation’s emergency stockpile after failing to win funding from Congress, throwing a wrench in its most tangible efforts to help struggling drillers cope with the …

Source: Reuters

U.S. crude oil inventories increase by 1.6 million barrels

Weekly Crude Oil Storage as of March 20, 2020

PUBLISHER’S NOTE: To date, since coronavirus hit the headlines, seasonally-adjusted inventories, that is inventories relative to the five year average have failed to build as we’ve seen relative draws for crude,

Source: Houston Chronicle

US seeks $3 billion to boost oil producers as prices plunge

Houston Chronicle


WASHINGTON (AP) — The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping up U.S. oil producers after crude prices crashed globally.

President Donald Trump …

Source: Reuters

Glut of crude swells across Atlantic basin on coronavirus, OPEC+ hikes

Reuters


LONDON/NEW YORK – Crude oil traders from West Africa to the U.S. Gulf Coast are offering cargoes at deep discounts, desperately trying to attract buyers as global supplies swell and demand plunges.

Oil prices have plummeted to 18-year lows …

Source: Reuters

U.S. crude oil inventories increase by 2.0 million barrels

Weekly Crude Oil Storage as of March 13, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.0 million barrels from the previous week. At 453.7 million barrels, U.S. crude oil inventories …

Source: Reuters

Oil plunge sets off search for tanks on land and at sea

Reuters


NEW YORK/LONDON – Traders are scrambling to secure oil storage tanks on land and at sea to cope with slumping demand resulting from the coronavirus outbreak and a flood of supply from the Saudi-Russia price war.

Rates to store …

Source: Reuters

U.S. could start buying crude for Strategic Petroleum Reserve in as soon as two weeks

Reuters


WASHINGTON – The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve in as soon as two weeks and fill it in several months, an Energy Department source said on Monday.

President Donald Trump …

Source: Houston Chronicle

Oil traders stand to make fortunes as more oil hits market

Houston Chronicle


Saudi Arabia and Russia’s price war is handing over a multi-billion dollar profit opportunity to the world’s largest oil traders.

With both Riyadh and Moscow outdoing each other by pumping more oil into an already flooded market, crude …

Source: Reuters

U.S. crude oil inventories increase by 7.7 million barrels

Weekly Crude Oil Storage as of March 6, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.7 million barrels from the previous week. At 451.8 million barrels, U.S. crude oil inventories …

Source: Reuters

U.S. suspends oil sale from strategic reserve amid price drop

Reuters


WASHINGTON – The U.S. Department of Energy said on Tuesday it has suspended a sale of up to 12 million barrels of oil from the government’s emergency crude reserve due to the petroleum price drop.

The DOE had announced …

Source: Reuters

U.S. crude oil inventories increase by 800 thousand barrels

Weekly Crude Oil Storage as of February 28, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 800 thousand barrels from the previous week. At 444.1 million barrels, U.S. crude oil inventories …

Source: Reuters

U.S. crude oil inventories increase by 500 thousand barrels

Weekly Crude Oil Storage as of February 21, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 500 thousand barrels from the previous week. At 443.3 million barrels, U.S. crude oil inventories …

Source: Reuters

U.S. crude oil inventories increase by 400 thousand barrels

Weekly Crude Oil Storage as of February 14, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 400 thousand barrels from the previous week. At 442.9 million barrels, U.S. crude oil inventories …

Source: Reuters

U.S. crude oil inventories increase by 7.5 million barrels

Weekly Crude Oil Storage as of February 7, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.5 million barrels from the previous week. At 442.5 million barrels, U.S. crude oil inventories …

Source: Reuters

U.S. crude oil inventories increase by 3.4 million barrels

Weekly Crude Oil Storage as of January 31, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.4 million barrels from the previous week. At 435.0 million barrels, U.S. crude oil inventories …

Empire Energy Group Ltd (EEGUF) quarterly activities report

Empire Energy Group Ltd (EEGUF) quarterly activities report

Empire Energy Group Ltd (EEGUF) Quarterly Activities Report

Source: Reuters

U.S. crude oil inventories increase by 3.5 million barrels

Weekly Crude Oil Storage as of January 24, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.5 million barrels from the previous week. At 431.7 million barrels, U.S. crude oil inventories …

Source: Reuters

U.S. crude oil inventories decrease by 0.4 million barrels

Weekly Crude Oil Storage as of January 17, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.4 million barrels from the previous week. At 428.1 million barrels, U.S. crude oil inventories …

GlobalData: ExxonMobil Fuels incurs highest crude oil refinery maintenance globally in 2019

GlobalData: ExxonMobil Fuels incurs highest crude oil refinery maintenance globally in 2019

BIC Magazine


ExxonMobil Fuels and Lubricants Co (ExxonMobil Fuels) had the highest crude oil refinery capacity under maintenance (both planned and unplanned) among all the refinery operators globally in 2019, according to GlobalData, a leading data and analytics company.

The …

Source: Reuters

Oil slides 2% as surplus forecast overshadows Libya disruption

Reuters


NEW YORK (Reuters) – Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output.

Brent crude LCOc1 was down …

Source: Reuters

U.S. crude oil inventories decrease by 2.5 million barrels

Weekly Crude Oil Storage as of January 10, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.5 million barrels from the previous week. At 428.5 million barrels, U.S. crude oil inventories …

Source: Houston Chronicle

Oil set for biggest weekly loss since July as Mideast risk eases

Houston Chronicle


Oil headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated, allaying fears of disruption to Middle East energy supplies.

Futures initially soared to an eight-month high …

Source: Reuters

Oil slips as focus shifts from Iran tensions to U.S. crude stocks

Reuters


LONDON – Oil prices retreated further on Thursday after sharp losses in the previous session, as the market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United …

Source: Reuters

U.S. crude oil inventories increase by 1.2 million barrels

Weekly Crude Oil Storage as of January 3, 2020

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.2 million barrels from the previous week. At 431.1 million barrels, U.S. crude oil inventories …

Source: Houston Chronicle

Crude inventories plunge from record-high exports amid Iranian tensions

Houston Chronicle


The nation’s stockpiles of commercial crude oil plunged by 11.5 million barrels last week thanks to record-high crude exports, adding more bullish news to oil prices that already were spiking worldwide amid an escalating U.S. conflict with Iran.…

Source: Reuters

U.S. crude oil inventories decrease by 11.5 million barrels

Weekly Crude Oil Storage as of December 27, 2019

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 11.5 million barrels from the previous week. At 429.9 million barrels, U.S. crude oil inventories …

Source: Nasdaq

Oil hits three-month high on falling oil stocks, investor optimism

Reuters


HOUSTON – Oil prices rose to the fourth consecutive weekly gain on Friday, steadying at three-month highs after new data showed U.S. crude inventories fell far more than expected, while upbeat economic data and optimism over a U.S.-China trade …