Crude Oil

  • News
    Oil Plunges Below $57 Following Coronavirus and OPEC+ Cuts Delays

    Oil Plunges Below $57 Following Coronavirus and OPEC+ Cuts Delays

    Oil dropped below $57 per barrel Tuesday, pressured by concerns over the impact on oil demand from the coronavirus epidemic in China and a lack of further action by OPEC and its partners to support the market. Forecasters, including the International Energy Agency (IEA), have pared 2020 oil demand estimations because of the coronavirus. Although new cases in mainland China…

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  • Crude Oil
    Russia Hits Record Oil Production for Post-Soviet Era Despite OPEC+ Cuts

    Russia Hits Record Oil Production for Post-Soviet Era Despite OPEC+ Cuts

    Crude oil and condensate production in Russia reached a record high for the post-Soviet era last year, regardless of Moscow’s key role in supporting the ongoing output cuts of the OPEC+ alliance. Based on figures from Russia’s energy ministry, Russia produced 11.25 million barrels per day (BPD) of crude oil and condensate in 2019—up from 11.16 million BPD a year…

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  • Crude Oil
    U.S. Reserves of Crude Oil and Natural Gas Soars Up High

    U.S. Reserves of Crude Oil and Natural Gas Soars Up High

    The proved reserves of crude oil and pure gasoline in the US set new information, the U.S. Energy Information Administration (EIA) reported on Friday. In response to the EIA’s annual reserves report, the proved reserves of crude oil within the nation elevated 12 %, from 39.2 billion barrels at year-end 2017 to 43.8 billion barrels at year-end 2018, setting one…

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  • News
    US Is Still Not Successful in Exporting Net Crude Oil

    US Is Still Not Successful in Exporting Net Crude Oil

    Of all of the developments to return out of the shale oil increase within the U.S., the concept the U.S. may truly obtain vitality independence appeared probably the most unlikely. In any case, in late 2005, weekly internet imports of crude oil and petroleum merchandise had hit a high above 14 million barrels per day. This was the result of…

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  • Crude Oil
    Keystone Pipeline Is Leaking Crude Oil

    Keystone Pipeline Is Leaking Crude Oil

    On Thursday, the Keystone Pipeline spilled about 383,000 gallons of crude oil in North Dakota. It’s nothing in need of an environmental disaster — and it most likely won’t be the final time that the significantly-leaky pipeline spills, consultants told The New York Times. The pipeline, which the U.S. authorities said in 2011, would pose “no vital impression” to the…

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  • Crude Oil
    Gulf of Mexico Is Setting Crude Oil Records for 2020

    Gulf of Mexico Is Setting Crude Oil Records for 2020

    U.S. crude oil manufacturing within the U.S. Federal Gulf of Mexico (GOM) averaged 1.8 MMbpd in 2018, setting a brand new annual report. The U.S. Energy Information Administration (EIA) expects oil manufacturing within the GOM to set new manufacturing information in 2019 and in 2020, even after accounting for shut-ins associated to Hurricane Barry in July 2019 and together with…

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  • Crude Oil
    The U.S. Refineries Are Facing Crude Oil Shortage

    The U.S. Refineries Are Facing Crude Oil Shortage

    A shortage of heavy crude has limited U.S. refiners from profiting from stronger margins ahead of the new sulfur emission guidelines of the International Maritime Organizations, which will enter into effect next January. S&P World Platts reports a narrowed unfold between the prices of sunshine candy crude and substantial sour grades ensuing from the availability crunch within the latter has pressured refiners’…

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  • Petroleum
    India's June Crude Oil Imports Decrease to Higher Than Two-Year Low

    India’s June Crude Oil Imports Decrease to Higher Than Two-Year Low

    India’s June crude oil imports dropped 13.4% from a year more advanced to their lowest since February 2017, government data confirmed on Tuesday. Crude imports into the world’s third-giant oil importer fell to 16.87 million tonnes, which was also a more than 10% drop from May’s 18.87 million tonnes. June’s decline came among the loss of Iranian oil supplies as…

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  • Crude Oil
    Crude Oil Valuation Update – Exposed to Heavy Hedge Fund Liquidation

    Crude Oil Valuation Update – Exposed to Heavy Hedge Fund Liquidation

    The United States West Texas Intermediate crude oil futures are trading marginally higher following the release of the United States Energy Information Administration’s (EIA) weekly inventories report. The market is also trading inside yesterday’s broad range, which intimate’s investor indecision and impending volatility. At 14:30 GMT, the EIA report showed a 3.1-million-barrel drawdown. This was somewhat above the 3.6-million-barrel drawdown…

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  • Crude Oil
    China’s Private Oil Refiners Buying a Large Number of Crude

    China’s Private Oil Refiners Buying a Large Number of Crude

    All the Crude Oil imported to China Private Crude Oil refineries in Shandong Province on east China’s seaboard brought in 8.36% of in the Year 2016, as they capitalized on the federal government’s decision to offer them Inexperienced Gentle to introduce Black Gold. These refineries in Shandong imported 15.61-M tonnes of Crude between January and June, which cost RMB 27.77-B…

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