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U.S. refiners have been bracing themselves for the possibility that President Biden will impose some sort of fuel exports ban or restriction ahead of the mid-terms.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
2022/10/17 09:55
Manufacturing growth in the United States slowed in September to its lowest rate since the pandemic recovery started
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
2022/10/07 13:38
BP restarted production at its Na Kika and Thunder Horse platforms on Thursday.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
2022/09/30 18:34
The U.S. Federal Reserve hiked interest rates by 75 basis points on Wednesday.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
2022/09/22 19:03
Oil prices dropped on Thursday morning.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
2022/09/16 13:58
OPEC is meeting on September 5 to discuss the state of the oil market.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
2022/09/05 16:12
G7 finance ministers are set to finalize a plan on a potential price cap on Russian oil.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.
2022/09/03 11:34
Oil prices have traded below $100 per barrel since the beginning of August.
A recession could weigh further on global oil demand, though many analysts are bullish on oil in 2023.
The looming EU embargo on Russian seaborne oil imports at the end of this year is also expected to push prices higher.
A recession could weigh further on global oil demand, though many analysts are bullish on oil in 2023.
The looming EU embargo on Russian seaborne oil imports at the end of this year is also expected to push prices higher.
2022/08/25 17:06
JODI: global crude inventories fell by 21.8 million barrels to 915.8 million barrels in June.
The low level of crude inventories coincided with record-high gasoline prices in the U.S. in June.
Product inventories, on the other hand, rose by 34.1 million barrels to 650.5 million barrels.
The low level of crude inventories coincided with record-high gasoline prices in the U.S. in June.
Product inventories, on the other hand, rose by 34.1 million barrels to 650.5 million barrels.
2022/08/18 09:38
U.S. refiners have been bracing themselves for the possibility that President Biden will impose some sort of fuel exports ban or restriction ahead of the mid-terms.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
Manufacturing growth in the United States slowed in September to its lowest rate since the pandemic recovery started
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
BP restarted production at its Na Kika and Thunder Horse platforms on Thursday.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
The U.S. Federal Reserve hiked interest rates by 75 basis points on Wednesday.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
Oil prices dropped on Thursday morning.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
The United States has avoided a potentially disastrous rail strike.
The Department of Energy is denying plans to refill the strategic petroleum reserve with sub-$80 oil.
OPEC is meeting on September 5 to discuss the state of the oil market.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
The cartel is considering slashing oil production.
Reports of where oil demand is heading remain mixed.
G7 finance ministers are set to finalize a plan on a potential price cap on Russian oil.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.
Despite Russia’s falling oil export volumes, revenues in June increased by $700m from May due to prices pushed higher by its war in Ukraine.
The Kremlin has since warned it will not tolerate any restrictions to prices, and Gazprom would instead only ship oil to states not obeying the price ceiling.
Oil prices have traded below $100 per barrel since the beginning of August.
A recession could weigh further on global oil demand, though many analysts are bullish on oil in 2023.
The looming EU embargo on Russian seaborne oil imports at the end of this year is also expected to push prices higher.
A recession could weigh further on global oil demand, though many analysts are bullish on oil in 2023.
The looming EU embargo on Russian seaborne oil imports at the end of this year is also expected to push prices higher.
JODI: global crude inventories fell by 21.8 million barrels to 915.8 million barrels in June.
The low level of crude inventories coincided with record-high gasoline prices in the U.S. in June.
Product inventories, on the other hand, rose by 34.1 million barrels to 650.5 million barrels.
The low level of crude inventories coincided with record-high gasoline prices in the U.S. in June.
Product inventories, on the other hand, rose by 34.1 million barrels to 650.5 million barrels.