Tag: oil/petroleum
Energy commodity prices increased in the second half of 2017
Less natural gas used in U.S. electricity generation during summer of 2017 compared with 2016 After decreasing nearly 20 per cent in the first half of 2017, the spot energy index in the Standard and Poor’s (S&P) Goldman Sachs Commodity Index (GSCI) ended 2017 16 per cent higher than the beginning of the year, according […]
Canada is United States’ largest partner for energy trade ‘by far’ – US EIA
Canada by far the largest source of US crude oil imports (41% of total in 2016) Canada is the largest energy trading partner of the United States. Based on the latest annual data from the U.S. Census Bureau, energy accounted for about 5 per cent of the value of all U.S. exports to Canada and more […]
US biodiesel production still increasing despite expiration of tax credit
Biodiesel is typically more expensive than petroleum-based diesel Through the first nine months of 2017, U.S. biodiesel production levels were slightly higher than 2016 levels, despite the expiration of a federal biodiesel blender’s tax credit at the end of 2016, according to the U.S. Energy Information Administration. Domestic biodiesel production may continue to increase because […]
Production from offshore pre-salt oil deposits has increased Brazil’s oil production
Pre-salt oil deposits are under deep, thick layers of rock and salt and require substantial investment to extract Brazil has produced 3.3 million barrels per day (b/d) of petroleum and other liquids so far in 2017, according to U.S. Energy Information Administration data through Aug., up from 3.2 million b/d in 2016 – making it […]
Transportation constraints, export costs widen Brent-WTI crude oil price spread
China is second-largest destination for U.S. crude oil exports In its Nov. Short-Term Energy Outlook (STEO), EIA forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma, and Brent, the global crude oil price benchmark, to remain at $6 per barrel (b) through the first quarter of 2018 before narrowing to $4/b […]
Russia exports most of its crude oil production, mainly to Europe
Russia also exported 1.3 million b/d of fuel oil, 990,000 b/d of diesel, and 120,000 b/d of gasoline in 2016 Russia exported more than 5.2 million b/d of crude oil and condensate and more than 2.4 million b/d of petroleum products in 2016, mostly to countries in Europe, according to the U.S. Energy Information Administration. […]
Gulf Coast refinery runs approaching levels seen prior Hurricane Harvey
Hurricane Harvey caused many refineries either reduced runs or temporarily shut down For week ending Oct. 20, 2017, gross inputs to petroleum refineries in the U.S. Gulf Coast averaged 8.8 million b/d, or about 324,000 b/d higher than the previous five-year range for mid-Oct., based on data in EIA’s Weekly Petroleum Status Report (WPSR). Gross inputs, also […]
September unplanned global oil supply disruptions fall to lowest level since January 2012
Disrupted volumes in Canada returned to production over five-month period Unplanned global supply disruptions fell to 1.6 million barrels per day (b/d) in Sept., the lowest level since Jan. 2012, according to the U.S. Energy Information Administration. Over the past six months, unplanned oil supply disruptions have fallen by more than 1.0 million b/d, as […]
Crude oil, petroleum product exports reach record levels in first half of 2017
Mexico received 53% of total U.S. gasoline exports in first half of 2017 Crude oil exports in the first half of 2017 increased by more than 300,000 b/d from the first half of 2016 to 784,000 b/d, a 57 per cent increase, according to the U.S. Energy Information Administration. Petroleum product exports also grew over […]
US oil production to increase through end of 2017, setting up record 2018
Forecast based on recent drilling, production and driven largely by WTI crude oil price EIA forecasts that U.S crude oil production will average 9.4 million b/d in the second half of 2017, 340,000 b/d more than in the first half of 2017, according to the U.S. Energy Information Administration. Production in 2018 is expected to […]
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