Crude Oil

Crude Oil

China November Crude Oil Imports Hit Record High As Refiners Race To Use Up Quotas

China's crude oil imports hit a record high on a daily basis in November, as refiners operated at high run rates to use up annual import quotas.

December 8, 2019

Crude Oil

Iran Outlines Budget To Resist US Sanctions As Oil Exports Plunge

Iran's president presented a draft state budget of about $39 billion to parliament on Dec. 8, saying it was designed to resist U.S. sanctions by limiting dependence on oil exports.

December 8, 2019

Exploration & Production , Crude Oil , Policy & Regulations

Saudi Delivers Deeper Cuts As OPEC+ Oil Producers Back New Pact

Saudi with OPEC peers and allies led by Russia backed a plan that could see cuts of as much as 2.1 million barrels per day (MMbbl/d), Saudi Energy Minister Prince Abdulaziz bin Salman said.

December 6, 2019

Petrochemicals , Natural Gas liquids (NGL) , Natural Gas , Frac Spread , Crude Oil , Storage

Frac Spread: Slow Ride

Hydrocarbon prices are improving, but at a slower rate than expected based on tailwinds.

December 6, 2019

Crude Oil

OPEC, Allies Stumble Toward Deeper Cuts

Talks between oil producers for deeper cuts to production ran late into the night on Dec. 5 as OPEC officials took longer than anticipated to come to an agreement.

December 6, 2019

Crude Oil

OPEC, Allies Agree To Deepen Oil Output Cuts

Oil producers led by Saudi Arabia and Russia agreed on Dec. 5 to cut output by an extra 500,000 barrels a day (bbl/d) for the final three months of their deal to curb supply but stopped short of pledging action beyond next March.

December 5, 2019

Crude Oil

OPEC Ministers To Discuss Deepening OPEC+ Supply Agreement In Vienna

OPEC Ministers are meeting in Vienna to discuss extending or even deepening the current OPEC+ supply agreement, Stratas Advisors reported on Dec. 4.

December 5, 2019

Exploration & Production , Crude Oil

OPEC, Russia Debate Deeper Oil Cuts As New Glut Looms

OPEC meets on Dec. 5 in Vienna followed by a meeting with Russia and others, a grouping known as OPEC+, on Dec. 6.

December 3, 2019

Crude Oil

What's Affecting Oil Prices This Week (December 2, 2019)?

For the week ahead, Stratas Advisors expect volatile prices in light of the OPEC+ meeting. 

December 2, 2019

IPO , Crude Oil

Saudi Arabia Wants OPEC+ To Deepen Oil Cuts Due To Aramco IPO

OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said.

December 2, 2019