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.

September 10, 2020

Crude Oil , Tankers , Storage

Second Wave of Floating Storage Triggered by Ailing Oil Market

Traditional onshore storage is close to capacity.

September 10, 2020

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.

September 10, 2020

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.

September 10, 2020

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.

September 9, 2020

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.

September 8, 2020

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.

September 8, 2020

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.

September 8, 2020

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.

September 3, 2020

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.

September 2, 2020