Storage

Crude Oil , Trade , Storage

Oil Industry Paints Grimmer Picture of Pandemic’s Harm to Demand

OPEC cut its outlook for demand in 2020, saying world oil demand would fall by 9.46 million bbl/d this year, an increase of 400,000 bbl/d from its previous report.

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

Storage

DOE: Storm Damage at Oil Reserve Site Limited to Support Infrastructure

Other reserve sites will return oil to companies.

September 11, 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

Crude Oil , Tankers , Storage

Second Wave of Floating Storage Triggered by Ailing Oil Market

Traditional onshore storage is close to capacity.

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

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

Liquefied Natural Gas (LNG) , Natural Gas , Storage

US Natural Gas Futures Post Best Month Since 2009

For the month of August, natural gas prices were up about 46%, the most since September 2009, propped up by a surge in LNG exports and on concerns about tropical storms. 

September 1, 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

Business , Tankers , Storage

API Offers Portuguese-language Certification Program for Aboveground Storage Tanks

This program is designed to certify inspectors of aboveground storage tanks, found commonly at terminals, refineries, biofuels, and petrochemical facilities.

August 27, 2020