Petrochemicals , Crude Oil , Storage

Near-record Oil Stockpiles at US Gulf Coast Pressure Prices of Domestic Grades

Mars Sour, the benchmark for sour U.S. Gulf Coast grades, was trading at a $1.05 premium to U.S. crude futures on July 1.

July 3, 2020

Petrochemicals , Crude Oil , Storage

US Crude Oil Stockpiles Hit Record High for Third Week

Crude oil inventories also hit another record high on the U.S. Gulf Coast, where the bulk of the nation's refining capacity is located.

June 24, 2020

Exploration & Production , Petrochemicals , Crude Oil , Tankers , Storage

US Oil Production Falls to Lowest Point Since 2018

Crude oil stockpiles in the U.S. rise to record high as imports from Saudi Arabia remain elevated.

June 17, 2020

Investment , Petrochemicals , Natural Gas liquids (NGL) , Shale Plays , Construction

Thai Company Delays Decision on $5.7 Billion Ohio Petrochemical Plant

The Thai chemical company said it chose the Ohio site for the proposed ethane cracker because it is located in the Marcellus and Utica shale region, the biggest U.S. natural gas shale formation.

June 8, 2020

Business , Petrochemicals , Natural Gas liquids (NGL) , Construction

Report: Shell Pa. Plastics Plant Faces Oversupply Risks

Institute questions whether facility will deliver the promised economic impact.

June 4, 2020

Petrochemicals , Crude Oil

Opinion: Recovering Oil Demand Could Drive Market into Deficit by July

Similar recoveries in fuel consumption are expected at varying rates across the globe as countries gradually emerge from lockdown and are likely to push the oil market into supply deficit in the third quarter.

May 15, 2020

Petrochemicals , Crude Oil , Storage

US Crude Oil Stockpiles Unexpectedly Drop for First Time Since January

Stocks in Cushing fell by 3 million barrels in the last week, the EIA said. The hub, coming into this week's data, is more than 80% full, as producers find themselves with fewer places to store oil.

May 13, 2020

Petrochemicals , Crude Oil

EIA: US Oil Demand Set to Crash by 2.2 Million bbl/d in 2020

Meanwhile, U.S. crude production is expected to fall 540,000 bbl/d from last year's record high to 11.7 million bbl/d in 2020, compared with the EIA's previous forecast for a decline of 470,000 bbl/d.

May 12, 2020

Petrochemicals , Crude Oil , Shale Plays , Storage

Falling Diesel Use Makes US Oil Industry ‘Like the Snake Biting Its Own Tail’

William Thomas, CEO at EOG Resources Inc., said May 8 on an investor call that the "historic and prolific oil production growth by U.S. shale may have been forever altered."

May 8, 2020

Business , Petrochemicals , Crude Oil , Trade , Storage

On the Money: Anxiety over Crude, Product Inventories

There is fear that crude and product inventories held in storage will be filled to tank tops in the near term.

May 1, 2020