Petrochemicals
Petrochemicals , Crude Oil , Storage
What’s Affecting Oil Prices This Week? (Oct. 5, 2020)
Dear Prudence—trading floors will be a major challenge for oil markets, Stratas Advisors says in its latest oil price forecast.
Petrochemicals , Trade , International , Tankers
Tankers Carrying Iranian Fuel Begin Entering Venezuelan Waters
The first of a group of three tankers carrying Iranian fuel for gasoline-starved Venezuela entered the waters of the South American nation on Sept. 28, according to Refinitiv Eikon data.
Petrochemicals , Crude Oil , Trade , International , Storage
What’s Affecting Oil Prices This Week? (Sept. 28, 2020)
So far in 2020 the oil market has seen Brent crude plummet, the U.S. lose 3 million bbl/d of crude production and European refiners more than halve utilization rates. However, as incredible as it seems, the worst might be yet to come, Stratas Advisors says in its latest oil price forecast.
Petrochemicals , Crude Oil , Storage
US Oil Inventories Fall across the Board Last Week
Crude oil production slipped to 10.7 million bbl/d, down in part due to storm activity that closed offshore drilling sites in the U.S. Gulf of Mexico.
Petrochemicals , Crude Oil , Trade , International , Storage
What’s Affecting Oil Prices This Week? (Sept. 21, 2020)
The first cut is the deepest…or not? OPEC+ will likely need to add oil output cuts soon, Stratas Advisors says in its latest oil price forecast.
Exploration & Production , Petrochemicals , Natural Gas , Crude Oil , Midstream
Over Quarter of US Oil Production Shut from Hurricane Sally
Shell shut its Appomattox oil platform about 80 miles off the coast of Louisiana, joining BP, Chevron and Equinor in closing facilities in the U.S. Gulf of Mexico less than one month after Hurricane Laura.
Petrochemicals , Crude Oil , Trade , International , Storage
What’s Affecting Oil Prices This Week? (Sept. 14, 2020)
From Russia with...honesty—a surprisingly bearish outlook from Russian Energy Minister Alexander Novak provided evidence of cohesion in the extended OPEC+ agreement on oil production cuts.
Exploration & Production , Petrochemicals , Natural Gas , Crude Oil
Oil Companies Idle Production as US Gulf Coast Braces for Hurricane Sally
Chevron, BP, Equinor and Murphy Oil all evacuated some offshore workers from production platforms in the Gulf of Mexico, the companies reported. Shell also curtailed production at ceftain platforms.
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.
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.