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.

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

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

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.

August 31, 2020