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.

October 5, 2020

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.

September 29, 2020

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.

September 28, 2020

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.

September 23, 2020

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.

September 21, 2020

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.

September 15, 2020

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.

September 14, 2020

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.

September 14, 2020

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

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