Crude Oil
Petrochemicals , Crude Oil , Storage
US Crude Oil Stocks End Streak of Inventory Drawdowns with Surprise Build
Crude inventories rose by 2 million barrels in the week to Sept. 4 to 500.4 million barrels, according to an EIA report, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel drop.
Crude Oil , Tankers , Storage
Second Wave of Floating Storage Triggered by Ailing Oil Market
Traditional onshore storage is close to capacity.
Exploration & Production , Crude Oil , Trade , International
Saudi Arabia to Keep Pumping Despite Fall in Oil Prices
Saudi Arabia fears that if it cuts more production to support oil prices, other countries will take advantage and produce greater amounts, jeopardizing the unity of the OPEC+ group.
Exploration & Production , Petrochemicals , Crude Oil
US Crude Oil Production to Fall Less Than Previously Expected in 2020
A swifter rebound in oil production could create another supply glut. Lately, oil futures have slipped to near three-month lows due to oversupply fears.
Crude Oil , Trade , International
Early Data Indicates Strong Month of US Crude Buying by China
Tentative U.S. crude cargo departures towards China currently sits at 840,000 bbl/d for the month, the second highest volume on record, according to data intelligence firm Kpler.
Crude Oil
Oil Prices Dive Below $40, Hit Lowest Since June
Oil futures tumbled on Sept. 8, with Brent dropping below $40/bbl for the first time since June and U.S. crude off more than 8%, after Saudi Arabia cut its October selling prices amid a flare-up of coronavirus cases around the world.
Petrochemicals , Crude Oil , Storage
What’s Affecting Oil Prices This Week? (Sept. 8, 2020)
Bears will get support from U.S. crude oil production—two years lost in this sector.
Investment , Petrochemicals , Crude Oil
IEA: Oil Market Stuck Between No Major Slowdown But Stalled Recovery
Keisuke Sadamori, IEA director for energy markets and security, told Reuters the outlook for oil was in the midst of either a second wave or a steady first wave of the coronavirus.
Business , Petrochemicals , Crude Oil , Trade , International
US Blacklists Companies for Helping Facilitate Iran’s Exports of Petroleum, Petrochemicals
The State Department also imposed sanctions on five companies for engaging in transactions related to Iran’s petroleum and petrochemical industry, as well as on three executive officers of the blacklisted companies.
Petrochemicals , Crude Oil , Storage
US Crude Stocks Drop Sharply after Record Fall in Production Amid Hurricane
Crude oil inventories fell by 9.4 million barrels in week to Aug. 28 to 498.4 million barrels, according to EIA data, compared with analysts' expectations in a Reuters poll for a 1.9 million-barrel drop.