The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 3,429 MBBL last week to 453,713 MBBL, from 457,142 MBBL. This is 7% below the 488,145 MBBL that was in storage at this point last year, and is 13% above the five-year
The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 1,855 MBBL last week to 457,142 MBBL, from 458,997 MBBL. This is 7% below the 489,029 MBBL that was in storage at this point last year, and is 14% above the five-year
Crude storage is becoming less attractive as futures prices decline Swiss mining giant and commodity trader Glencore (ticker: GLEN) is looking to divest its global storage assets, following similar moves by rivals Vitol and Gunvor. As the futures curve begins to flatten and the market enters backwardation storage is becoming a less attractive asset for commodity traders who stockpiled crude
Efficiency is way more important than pricing: Lesar Halliburton (NYSE: HAL) released its fourth quarter 2016 results Monday, reporting numbers that indicate that the recovery is well underway in North America’s oil and gas sector. Improved pricing in the second half of the year saw E&P companies drilling more wells, which led to higher demand for Halliburton’s services and a
Floating storage in Iran down nearly 50% in the last three months – up to 30 cargoes Iran is using the recent uptick in oil prices to sell off crude oil that has been sitting in offshore storage since the end of international sanctions. The Islamic Republic sold more than 13 million barrels of oil that was held in tankers,
The U.S. adds record amount of crude oil storage capacity; smaller than expected draw reported today The glut of crude oil has prompted for some time now a fear that storage may not be able to keep pace with the speed of production in the United States. The EIA measures crude oil storage capacity twice each year, and reported today
Crude Oil Inventory, News from Oil & Gas 360® February 24, 2016 CRUDE OIL INVENTORY/’000 bbls (Week Ended 2/19/16) Current: 507,607 Actual Build/(Withdrawal): 3,502 Economist Average Estimate: 2,417 Previous: 504,105 View Chart with Five Year Averages CRUDE OIL IN THE MEDIA Shell Oil Company President Marvin Odum to Retire – Oil & Gas 360 Royal Dutch Shell (ticker: RDS.A; Shell.com)
February 3, 2016 CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/29/16) Current: 502,712 Actual Build/(Withdrawal): 7,792 Economist Average Estimate: 3,745 Previous: 494,920 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Oil: The 30-Year Anniversary of the 1986 Collapse – Oil & Gas 360® The 1980s were a mixed up decade. Killer British-driven rock music and
January 27, 2016 CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/22/16) Current: 494,920 Actual Build/(Withdrawal): 8,383 Economist Average Estimate: 4,270 Previous: 486,537 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Bam! It’s Earnings Season Again – Q4’15 Estimates – Oil & Gas 360® EnerCom, Inc. compiled fourth quarter earnings per share, revenue, EBITDA and cash
January 21, 2016 CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/15/16) Current: 486,537 Actual Build/(Withdrawal): 3,979 Economist Average Estimate: 2,678 Previous: 482,558 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *$20 Oil Not New to Some Producers – Oil & Gas 360® Oil and gas prices for the U.S. crude benchmark WTI, and international crude benchmark
January 13, 2016 CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/8/16) Current: 482,558 Actual Build/(Withdrawal): 234 Economist Average Estimate: 2,025 Previous: 482,324 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Whiting Petroleum’s Geoscientists are Helping Build a Smarter Oil Company: a Look Behind the Scenes at the Bakken-Three Forks Oil Play – Oil & Gas 360®
January 6, 2016 CRUDE OIL INVENTORY/’000 bbls (Week Ended 1/1/16) Current: 482,324 Actual Build/(Withdrawal): (5,085) Economist Average Estimate: 654 Previous: 487,409 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *We’re Still Importing Crude Oil from OPEC. Why? – Oil & Gas 360® It’s Thursday morning, December 31, 2015. I’m not going to sugar coat it
