Crude Oil

Petrochemicals , Crude Oil , Storage

US Crude Oil Inventories Fall as Fuel Stocks Build

The decline in U.S. crude oil inventories last week was tempered by another release of barrels from the country’s strategic petroleum reserve (SPR).

November 23, 2022

Crude Oil , Trade , Pipelines

Rising Enbridge Pipeline Apportionment May Spell Pain for Canadian Oil Patch

Enbridge will apportion December deliveries on its heavy crude system by 11% and ration space on the light oil system by 13%. The rationing is the highest it has been since last winter.

November 23, 2022

Crude Oil , International

China’s COVID Resurgence Delays Oil Demand Recovery, Analysts Say

Despite recent moves by Beijing to dial back some COVID restrictions, analysts see China’s reopening process as taking one step forward, and two steps back—fuel demand in the world's No. 2 oil consumer is seen unlikely to recover until after March 2023.

November 22, 2022

Crude Oil , International , Tankers

Yemen’s Houthis Attack Al-Dhabba Oil Terminal, Force Ship to Leave

Panamanian-flagged vessel Pratika had entered the terminal to load a shipment of crude but left after the attack, workers said.

November 22, 2022

Crude Oil , Trade , International

Saudi Denies Oil Output Hike Discussion, Says OPEC+ May Cut If Needed

The Wall Street Journal earlier on Nov. 21 reported an output increase of 500,000 bbl/d was under discussion for the next OPEC+ meeting.

November 21, 2022

Crude Oil , International

Oil Prices Retreat as Investor Sentiment Darkens: Column

"Investors had been steadily accumulating bullish long positions in petroleum, especially crude, expecting OPEC+ output cuts and the price cap to reduce supplies more than the economic slowdown reduces demand," columnist Joh Kemp shared.

November 21, 2022

Crude Oil

What’s Affecting Oil Prices This Week? (Nov. 21, 2022)

While there is sufficient supply to prevent oil prices from breaking out to higher levels, Stratas Advisors forecasts that oil demand will slightly outpace oil supply during the fourth quarter.

November 21, 2022

Crude Oil , International

Goldman Sachs Cuts 4Q Oil Forecast by $10/bbl on China 'Speed Bump'

Despite cutting its fourth-quarter 2022 forecast, Goldman Sachs kept its 2023 Brent forecast the same.

November 21, 2022

Crude Oil , International , Tankers

Britain Says Drone Circles Vessel in Gulf of Oman after Strike on Tanker

Attacks on tankers in Gulf waters in recent years have come at times of heightened regional tensions.

November 18, 2022

Crude Oil , International , Pipelines

Nord Stream Leaks Confirmed as Sabotage, Sweden Says

Swedish and Danish authorities are investigating four holes in the Nord Stream 1 and 2 pipelines that link Russia and Germany via the Baltic Sea and have become a flashpoint in the Ukraine crisis as gas supplies in Europe run short.

November 18, 2022