US gasoline and diesel stocks fall despite record refinery runs By John Kemp LONDON, Nov 9 – US stocks of gasoline and diesel continue to fall, despite record refinery runs, in a sign of strong demand at home and in export markets. U.S. refineries processed a seasonal record 16.3 million barrels per day (b/d) of
Column: US gasoline and diesel markets look tight Read More »
Chinese coal imports down to 21.28 million tonnes from 27.08 million tonnes in Sept. Chinese coal imports fell in October as Beijing continues its campaign to reduce air pollution by replacing coal with cleaner burning fuels in the northern part of the country. According to data from the General Administration of Customs, coal imports hit
Chinese coal imports fall in Oct. on air anti-pollution campaign Read More »
Pemex discovery in Veracruz Mexico’s President Enrique Pena Nieto said Mexico’s state-owned oil company, Pemex, made its biggest onshore oil discovery in 15 years in the eastern state of Veracruz. The field located near the municipality of Cosamaloapan is believed to hold about 350 million barrels of proven, probably and possible reserves. Reuters reports the
Biggest onshore oil find in Mexico in 15 years by Pemex Read More »
OPEC oil demand to reach 33.10 million bpd in 2019: Report In a report by OPEC, the cartel says if consumers rapidly adopt electric vehicles, world oil demand will reach a plateau during the second half of the 2030’s. “In just a few years, EVs have gone from being completely unaffordable, impractical and not particularly nice,
Oil demand could plateau in 2030’s due to EVs: OPEC Read More »
Exports to Canada decreased by 15,000 b/d U.S. distillate exports have continued to increase in 2017, both in volume and as a share of total distillate production. Domestic distillate demand has remained relatively stable, increasing slightly from January through July 2017, according to the U.S. Energy Information Administration. Distillate exports from the United States reached
More US distillate is being exported, less to Canada Read More »
Project will involve $2 billion investment in Minnesota, $8.4 billion total Enbridge submitted rebuttal testimony in support of the Line 3 Replacement Project before the Minnesota Public Utilities Commission (MPUC) in response to the Minnesota Department of Commerce(MDC) testimony that Line 3 pipeline is not needed, according to an Enbridge press release. Enbridge’s Line 3
LNG prices up after China shifted millions of home to natural gas from coal China is buying up liquified natural gas cargoes worldwide and pushing up spot LNG prices after heating systems in millions of homes in China were recently converted from coal to natural gas. Most Asian LNG supplies are delivered under long-term contracts
LNG prices soar as China buys up supplies as winter sets in Read More »
Oil prices up over 2 per cent on Saudi purge Oil prices jumped over 2 per cent on Monday after Saudi Arabia’s crown prince purged a number of officials and members of the royal family in an anti-corruption crackdown over the weekend. By 1:12 p.m. EST, Brent had gained $1.80 to sit at $63.87/barrel and
Oil prices jump to highest since summer 2015 Read More »
Hedge funds build bullish positions on almost all parts of petroleum complex By John Kemp LONDON, Nov 6 – Hedge funds have built record or near-record bullish positions in almost all parts of the petroleum complex anticipating that prices will keep rising. Hedge funds and other money managers had amassed a net bullish position in
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Saudi Arabia now controlled by King Salman and Crown Prince Mohammed bin Salman By John Kemp LONDON, Nov 6 – The wave of arrests and ministerial changes in Saudi Arabia at the weekend has fundamentally transformed the structure of the state as it has existed since the 1960s. Saudi Arabia has practised a form of collective
Column: Saudi Arabia purge takes kingdom into unpredictable new era Read More »
