Post Tagged with: "Crude oil exports"
Saudi Arabia’s crude oil exports dropped to a five-month low in April
Saudi Arabia, the world’s top crude oil exporter, saw its crude exports drop to a five-month low in April, a month before the first of the voluntary Saudi cuts began in May, data from the Joint Organizations Data …
Saudi Arabia’s crude oil exports hit eight-month high in September
Nov 18 – Saudi Arabia’s crude oil exports in September rose for a fifth month in a row to their highest since January, the Joint Organisation Data Initiative (JODI) said on Thursday.
The kingdom’s crude oil exports rose to …
US oil production plunges as the industry retrenches, and more cuts are expected after a price crash
The U.S. oil industry reacted to cratering oil prices by cutting production by 900,000 barrels a day in just a month in what appears to be the biggest one-month decline since the financial crisis.
U.S. government data shows that
Saudis to Limit Oil Exports in September to Stabilize Market
Saudi Arabia plans to keep oil exports below 7 million barrels a day next month as OPEC’s biggest producer allocates less crude than customers demand in a bid to stabilize the market, according to the kingdom’s …
EIA: Saudi Arabia Has Been Exporting More Crude Oil to China, Less to the United States
From the EIA
Saudi Arabia’s crude oil production approached a four-year low in May 2019, averaging an estimated 9.9 million barrels per day (b/d), more than 1 million b/d lower than its all-time high in November 2018. Production in Saudi …
Port of Corpus Christi Begins $380 Million Channel Dig to Add 7 More Feet
Port of Corpus Christi Begins $380 Million Channel Dig to Add 7 More Feet
From the Houston Chronicle
The Port of Corpus Christi has started work on $380 million project to deepen and widen its ship channel to allow for …
Crude and LNG Exports Are at Stake as Latest Round of U.S.-China Trade Talks Begin
From S&P Global/Platts
Washington — Top US energy and agriculture officials will return to China next week for the latest round of trade talks that could signal whether crude and LNG flows will pick up between the two countries this …
U.S. Oil Exports: ICE to Launch Houston Oil Contract
From Reuters
Intercontinental Exchange on Tuesday said it would launch a crude oil futures contract deliverable in Houston later this quarter, capitalizing on the growth in U.S. exports of crude oil that have risen to about 2 million barrels a …
Oil Price Reached $74 This Week, But Double That Could Be on the Horizon
Despite the surprise moderate build in U.S. crude oil stockpiles, analysts are worried of an impending price spike to $150 or more.
Prices Today
Crude oil stocks rose by 1,245 MBBL last week to 417,881 MBBL from 416,636 MBBL. This …
Saudi, Russia Reaffirm Deal that will Generate Million-Barrel Oil Boost
Saudi Arabia and Russia reaffirmed an agreement between OPEC and its allies, which they say will mean increasing oil production by 1 million barrels a day.
Their joint announcement came days after U.S. President Donald Trump …
Saudis’ Biggest Oil Surge in 5 Years Barely Steadies OPEC
From Bloomberg
Under U.S. pressure, kingdom boosts production by 330,000 b/d
Libyan, Venezuelan losses mean total OPEC output holds steady. Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses …
Texas Reps Seek Funding for Corpus Christi Ship Channel Improvement Project
From Dredging Today
Project is needed to continue export takeaway growth for U.S. energy
The Port of Corpus Christi’s Ship Channel Improvement Project (CIP) received additional support from bipartisan members of the Texas Congressional Delegation in a recent letter sent …
Enterprise Houston Marine Terminal to Expand, Looks toward Suezmax Docking Capacity for Crude Exports
Enterprise Expands Marine Terminal on the Houston Ship Channel
…A Supertanker is Loading Export Crude Oil in Louisiana; Could Change U.S. Oil Export Game
From CNBC
Shell Oil is reportedly loading a supertanker in Louisiana, the first of its kind to leave that port with U.S. crude exports. The shipment via the Saudi Arabian-owned supertanker, capable of carrying 2 million barrels, signals the next …
Too Many Crude Tankers is a Major Obstacle for Market’s Restoration of Balance
The single biggest stumbling block which is hindering the crude tanker market’s recovery and is bound to continue doing so, is the excess supply of ships, a trend which isn’t going away anytime soon.
In its …
Canadian Crude Oil Exports Up from 2015
Information from the Canadian National Energy Board shows Canadian crude oil exports increased 16 MBOPD
Canadian crude oil exports are up 16 MBOPD in the first seven months of the year compared to the same time period in 2015, according …
Warren Buffett Stockpiles More Shares of Phillips 66
Some analysts say U.S. refiners won’t be hurt by exports
Don’t count Warren Buffett as a participant in the energy market selloff – the legendary investor has purchased nearly $5 billion of Phillips 66 (ticker: PSX) stock since August 2015.…
OPEC Welcomes a New Member
Indonesia Rejoins Cartel after Six Year Hiatus
The Organization of Petroleum Exporting Countries (OPEC) welcomed Indonesia back into the fold as the 13th member of the cartel, the Organization said in a press release on September 8, 2015. Indonesia …
TOP MINDS IN THE BUSINESS: Adam Sieminski, EIA Administrator
An OAG360® Exclusive: Interview with EIA Administrator Adam Sieminski
The United States Energy Information Administration (EIA) is the principal agency of the U.S. Federal Statistical System responsible for collecting, analyzing and disseminating energy information to …
U.S. Crude Oil Exports Are Quietly Picking up Steam
Reuters reports Enterprise Products Partners (ticker: EPD) has secured light crude oil export contracts with Mitsubishi’s Petro-Diamond Singapore and Vitol, an independent oil trader, for volumes of 40 MBOPD in 2015. The information comes from Reuters sources based on anonymity, …
U.S. Department of Commerce Loosens Reins on Oil Exports
The United States Department of Commerce said it has begun approving requests to sell light processed oil on the international market. The transactions, which now can be conducted by companies without government approval, pertain only to selling crude that has …
The Market Takes a Positive Turn Following Elections
What will a Republican House and Senate do for the Keystone XL pipeline and crude oil exports ?
The results of the mid-term elections have placed both houses of Congress under Republican control, and the market seems to be responding …
EIA Reports Record High Crude Oil Exports
Re-exporting Canadian Oil through U.S.
According to an Energy Information Administration (EIA) report released October 31, crude oil exports reached their highest levels in 57 years in July. The EIA reported that the United States exported 401,000 BOPD in July, …
