(Oil Price)– The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 2.4 million barrels in the week ending December 19. Crude oil inventories shrank by 9.3 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net decrease of 6.7 million barrels for
(Oil & Gas 360) – Much needing to be done and greater freedom for seeing and doing it, the direction we head needs a very profitable drilling boom fueling it. Low expectations and Buy-Low opportunity is evident in the crude oil price down from over $90 to under $70. June through September last year the price of West Texas Intermediate
Oil Price Crude oil inventories in the United States fell by 9.163 million barrels for the week ending June 28, according to The American Petroleum Institute (API), after analysts had expected a 150,000 barrel draw. For the week prior, the API reported a 914,000 barrel build in crude inventories. On Tuesday, the Department of Energy (DoE) reported that crude oil
Oil Price Crude oil inventories fell by 1.3 million barrels, American Petroleum Institute (API) data showed on Wednesday, after dropping 3.069 million barrels in the week prior. U.S. crude inventories have grown by fewer than 10 million barrels so far this year, according to API data. Meanwhile, crude stored in the nation’s Strategic Petroleum Reserves sunk by nearly 23 times that
Reuters LONDON – Oil prices rose on Tuesday, recouping some of their losses in the previous session, as rising demand in Europe and the United States outweighed concerns over an increase in COVID cases in Asian countries. Brent crude was up 64 cents, or 0.9%, at $69.68 a barrel by 1329 GMT, and U.S. oil rose 79 cents, or 1.2%,
Houston Chronicle The nation’s stockpiles of commercial crude oil plunged by nearly 5 million barrels last week as the United States continues to emerge as a net petroleum exporter at the end of 2019. The U.S. is churning out record-high crude oil production at an estimated 12.9 million barrels a day and exporting nearly a quarter of that crude daily.
Houston Chronicle Oil steadied on signs of progress in trade talks between the U.S. and China, and estimates that American crude inventories retreated for the first time in five weeks. Futures traded little changed near $58 a barrel in New York. Washington and Beijing “reached consensus on properly resolving relevant issues” to pursue a “phase one” trade deal during a
Reuters: OPEC said on Thursday it expected demand for its oil to fall in 2020 as rivals pumped more despite a smaller surplus of crude in the global market, building a case for the group to maintain supply curbs when it meets to discuss policy next month. In its last monthly report before the Dec. 5-6 talks, OPEC said demand
Houston Chronicle Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a “sharp” slowdown in American shale output next year. Futures added 1.1% in New York. Expectations that the U.S. government will report that crude inventories increased last week eased after data from the
Source: Reuters NEW YORK (Reuters) – Oil prices ended Tuesday little changed after paring gains of about 1% following a speech from U.S. President Donald Trump that offered few new details about Washington’s trade talks with Beijing. Concerns about slower economic growth and oil demand due to the fallout from the 16-month trade dispute between the world’s two biggest economies
Compiled by, Oil & Gas 360 Weekly Crude Oil Storage as of September 6, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.9 million barrels from the previous week. At 416.1 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year, according to the
Compiled by, Oil & Gas 360 Weekly Crude Oil Storage as of August 30, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.7 million barrels from the previous week. At 422.9 million barrels, U.S. crude oil inventories are at the five year average for this time of year, according to the EIA crude
