Crude Oil , Storage , Pipelines

Enbridge Makes Deal to Store Canadian Crude in Mainline as Oil Glut Grows

Mainline pipeline moves about 3 MMbbl/d of western Canadian oil.

May 5, 2020

Policy & Regulations , Storage

Mnuchin Says US Could Store Another ‘Several Hundred Million’ Barrels of Oil

President Donald Trump on April 29 said his administration will soon release a plan to help U.S. oil companies, which Treasury Secretary Steven Mnuchin said could include adding millions of barrels of oil to already-teeming national reserves.

May 1, 2020

Business , Petrochemicals , Crude Oil , Trade , Storage

On the Money: Anxiety over Crude, Product Inventories

There is fear that crude and product inventories held in storage will be filled to tank tops in the near term.

May 1, 2020

Policy & Regulations , Storage

Official: Nine Companies Rent 23 MMbbl of Space in SPR

Administration tries to help oil industry deal with low prices.

April 30, 2020

Crude Oil , Storage

Oil Posts Double-digit Gains after US Crude Storage Build Slows

U.S. WTI crude futures settled at $15.06/bbl, jumping $2.72, or 22%. Brent crude futures settled at $22.54/bbl, up $2.08, or 10.2%.

April 29, 2020

Storage , Construction

Moda Midstream Completes 10 MMbbl Storage Expansion at Texas Facilities

Storage in the two terminals now totals about 12 MMbbl.

April 29, 2020

Crude Oil , Trade , Storage

Oil Traders Book Jones Act Tankers for Storage, Foreign Trips

Oil traders are hiring expensive U.S. vessels, normally only used for domestic shipments, to store gasoline or ship fuel overseas, five shipping sources said.

April 28, 2020

Crude Oil , Storage

WTI Plunges 25%, Brent Crude Oil Below $20 a Barrel

Even as governments worldwide are taking tentative steps towards reducing restriction on movement to help economies rebound, oil demand remains weak.

April 27, 2020

Exploration & Production , Policy & Regulations , Storage

Drowning in Crude, US Drillers Say Trump Strategic Reserve Plan is No Lifeline

Logistical issues and doubts about maintaining the quality of the oil make producer skeptical of the plan.

April 23, 2020

Crude Oil , International , Storage

Australia to Spend $60 Million Buying Oil to Store in US Reserve

10-year deal will allow Australia to stockpile crude and eventually increase storage in the country.

April 22, 2020