December 9, 2015 CRUDE OIL INVENTORY/’000 bbls (Week Ended 12/4/15) Current: 485,856 Actual Build/(Withdrawal): (3,568) Economist Average Estimate: 730 Previous: 489,424 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Average Monthly WTI Price is the Lowest Since June 2004 – Oil & Gas 360® “Production from the North Slope of Alaska and the North Sea
Senate vote remains The Republican-controlled U.S. House of Representatives approved a bill set to boost U.S. energy production, lift the four-decade ban on crude oil exports and modernize the electric grid. The House passed the bill 249-174 despite threats from the White House to veto the bill. In addition to allowing U.S. companies to export their crude oil, the bill
December 2, 2015 CRUDE OIL INVENTORY/’000 bbls (Week Ended 11/27/15) Current: 489,424 Actual Build/(Withdrawal): 1,177 Economist Average Estimate: (679) Previous: 488,247 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Rig Counts Fall by Double Digits for the Second Week – Oil & Gas 360® Baker Hughes Industries (ticker: BHI) released its weekly rig counts two
November 25, 2015 CRUDE OIL INVENTORY/’000 bbls (Week Ended 11/20/15) Current: 488,247 Actual Build/(Withdrawal): 961 Economist Average Estimate: 1,195 Previous: 487,286 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Fossil Fuel v. Renewable Energy: Did Green Slip through the Door while North American Oil & Gas Companies were Busy Creating the Shale Boom? – Oil
Extensions of existing fields continues to push reserves higher The Energy Information Administration (EIA) announced today that 2014 was the fourth-highest year on record for crude oil reserves as the United States added 3.4 billion barrels of crude oil and lease condensate to its proved reserves. U.S. total crude oil and lease condensate reserves at year-end 2014 now stand at
November 18, 2015 CRUDE OIL INVENTORY/’000 bbls (Week Ended 11/13/15) Current: 487,286 Actual Build/(Withdrawal): 252 Economist Average Estimate: 2,268 Previous: 487,034 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *The Next Decade’s Oil Demand Growth Story: U.S. and India Overtake China – Oil & Gas 360® China’s economy has been a demand-growth powerhouse over
Production from OPEC’s two largest producers falls slightly ahead of next meeting OPEC’s monthly Oil Market Report (OMR) released today showed the group’s production was down slightly to 31.38 million barrels of oil per day (MMBOPD), 256,000 barrels per day lower than in its previous OMR. The group is still producing in excess of its self-imposed 30 MMBOPD production mark
An interview with Corey Goulet, President of Keystone projects for TransCanada. Editor’s Note: In March 2015, Oil & Gas 360® interviewed Corey Goulet, boss of the Keystone XL pipeline project. Today (Nov. 6, 2015), the U.S. State Department and the Obama Administration officially denied TransCanada’s application to build the Keystone XL pipeline. In light of today’s announcement, Oil & Gas 360®
The UAE is looking to use enhanced oil recovery to increase production moving forward The United Arab Emirates (UAE) is looking to enhanced oil recovery (EOR) to push its production higher as the chances of finding new reserves decrease. OPEC’s second-largest producer of petroleum and other liquids, and the world’s sixth-largest oil producer, hopes to expand production by 30% by
U.S. trade deficit grows by $6.5 billion The U.S. trade deficit increased by $6.5 billion to $48.3 billion in August from July, according to the U.S. Census Bureau. August exports were $185.1 billion, $3.7 billion less than July, and imports were $233.4 billion, $2.8 billion more than July imports. The export of goods from the U.S. decreased by $4.1 billion
Exports of both crude oil and natural gas fell; imports of energy products increased The U.S. international trade deficit in goods and services increased to $43.8 billion in June from $40.9 billion in May, according to the U.S. Census Bureau. Exports decreased to $188.6 billion in June from $188.7 billion in May. Goods were $127.6 billion in June, down from
Opinions vary widely on how much Iranian crude will hit the market and when we can expect to see it The much anticipated deal between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), was finalized today, fleshing out the details of the preliminary agreement reached on April 2, 2015. Under the terms of the
