Middle East Oil Prices Soar Amid Chinese Trading Frenzy
2023/06/23 11:55
Will Argentina Reach Its 1 Million Bpd Oil Production Goal?
2023/06/20 11:59
Bloomberg: Middle Eastern oil producers are raising the export prices for their lower-grade crudes.
The phasing out of Urals crude in Europe has led to higher premiums for similar crude grades.
Some relief for European refiners came from the U.S., whose oil exports to Europe were set to reach a record in March at around 2 million barrels daily.
2023/05/11 17:53
With a third of the year gone, it looks like U.S. oil production is on track to set a new annual production record in 2023.
The previous record was set in 2019 at 12.3 million barrels per day, with the EIA's current estimate for this year at 12.4 million barrels per day.
While U.S. production is currently on track to set a new record, it is far from a certainty given the current oil market.
2023/05/04 17:50
Private investment is growing in Mexico's oil and gas sector, despite nationalisation policies.
Recent developments demonstrated potential for Mexico's oil and gas industry, including new refinery projects, increasing condensate production, and offshore oil discoveries.
Pemex's plans to boost offshore oil production, coupled with Eni's optimistic outlook on the region, indicate a positive future for Mexico's energy industry.
2023/04/28 17:46
Russia's crude oil sales to China surged to its historic high in March.
Chinese refiners purchased discounted ESPO and Urals crudes from Russia.
Saudi Arabia still trails Russia in crude oil supply to China despite a 30% increase in March compared to the previous year.
2023/04/21 17:43
Canadian oil industry's new hope is the Trans Mountain conduit which is set to begin operating next year.
The pipeline expansion will help Canada increase its pipeline capacity, overcome constraints and open new markets in Asia, improving price for crude.
The pipeline will transport around two times as much oil as previously, with capacity at 890,000 bpd, and it is expected to reinvigorate the industry and boost oil prospects.
2023/04/14 17:40
Standard Chartered: a large oil surplus started building in late 2022 and spilled over into the first quarter of the current year.
U.S. gasoline inventories are hovering near an eight-year low in March.
The demand element of the data has also become stronger, with the four-week average of the demand bull-bear sub-index turning positive.
2023/04/07 17:37
Oil prices ticked up today, after the U.S. Energy Information Administration reported a crude oil inventory draw of 7.5 million barrels for the week to March 21.
2023/03/31 17:34
The total number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday.

2023/03/24 17:31
Middle East Oil Prices Soar Amid Chinese Trading Frenzy
Will Argentina Reach Its 1 Million Bpd Oil Production Goal?
Bloomberg: Middle Eastern oil producers are raising the export prices for their lower-grade crudes.
The phasing out of Urals crude in Europe has led to higher premiums for similar crude grades.
Some relief for European refiners came from the U.S., whose oil exports to Europe were set to reach a record in March at around 2 million barrels daily.
With a third of the year gone, it looks like U.S. oil production is on track to set a new annual production record in 2023.
The previous record was set in 2019 at 12.3 million barrels per day, with the EIA's current estimate for this year at 12.4 million barrels per day.
While U.S. production is currently on track to set a new record, it is far from a certainty given the current oil market.
Private investment is growing in Mexico's oil and gas sector, despite nationalisation policies.
Recent developments demonstrated potential for Mexico's oil and gas industry, including new refinery projects, increasing condensate production, and offshore oil discoveries.
Pemex's plans to boost offshore oil production, coupled with Eni's optimistic outlook on the region, indicate a positive future for Mexico's energy industry.
Russia's crude oil sales to China surged to its historic high in March.
Chinese refiners purchased discounted ESPO and Urals crudes from Russia.
Saudi Arabia still trails Russia in crude oil supply to China despite a 30% increase in March compared to the previous year.
Canadian oil industry's new hope is the Trans Mountain conduit which is set to begin operating next year.
The pipeline expansion will help Canada increase its pipeline capacity, overcome constraints and open new markets in Asia, improving price for crude.
The pipeline will transport around two times as much oil as previously, with capacity at 890,000 bpd, and it is expected to reinvigorate the industry and boost oil prospects.
Standard Chartered: a large oil surplus started building in late 2022 and spilled over into the first quarter of the current year.
U.S. gasoline inventories are hovering near an eight-year low in March.
The demand element of the data has also become stronger, with the four-week average of the demand bull-bear sub-index turning positive.
Oil prices ticked up today, after the U.S. Energy Information Administration reported a crude oil inventory draw of 7.5 million barrels for the week to March 21.
The total number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday.