Petrochemicals
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.
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.
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.
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.
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.
Petrochemicals , Crude Oil , Storage
What’s Affecting Oil Prices This Week? (Aug. 31, 2020)
The EIA reported total U.S. product consumption has finally reached the levels of the five-year historical range, which, after a five-month roller coaster, could potentially bring the oil sector one step closer to normalization.