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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