Tag Archives: Crude

U.S. gasoline prices move with Brent rather than WTI crude oil

November 3, 2014 Source: U.S. Energy Information Administration, ; Bloomberg LP Recent increases in U.S. crude oil production have sparked discussion on how this increase in supply will be used by U.S. refiners given current limitations on . On October 30, EIA released a study that explored the relationships between crude oil and gasoline prices. […]

Crude exports and re-exports continue to rise; some volumes sent to Europe and Asia

October 31, 2014 Source: U.S. Energy Information Administration, Petroleum Supply Monthly The United States exported 401,000 barrels per day (bbl/d) of crude oil in July 2014, the and the second highest monthly export volume since 1920, when EIA’s published data starts. Recent crude oil exports are also noteworthy for both their origins and destinations. As […]

Benchmarks play an important role in pricing crude oil

October 28, 2014 Source: U.S. Energy Information Administration, from Bloomberg Note: Dubai/Oman price calculated by taking the average of Dubai and Oman spot prices. When energy analysts and the media discuss the price of crude oil, they are typically referring to one of a small group of specific types of crude oil that are widely […]

Saudi Arabia uses largest amount of crude oil for power generation since 2010

September 24, 2014 Source: U.S. Energy Information Administration, Saudi Arabia is one of a handful of countries that burn crude oil directly for power generation, according to the (JODI). During the summer, Saudi Arabia typically experiences an increase in electricity consumption as domestic demand for air conditioning rises. Saudi Arabia burned 0.9 million barrels per […]

Oil tanker sizes range from general purpose to ultra-large crude carriers on AFRA scale

September 16, 2014 Source: T. Mason Hamilton, U.S. Energy Information Administration The global crude oil and refined product tanker fleet uses a classification system to standardize contract terms, establish shipping costs, and determine the ability of ships to travel into ports or through certain straits and channels. This system, known as the Average Freight Rate […]

Nigeria: U.S. Beams Searchlight On Ghana’s Saltpond Platform Over Stolen Crude

By Ejiofor Alike and Paul Obi With Agency Report The United States government has launched investigation into crude oil shipments from Saltpond platform, a small oil facility off the coast of Ghana, due to strong suspicion that some of Nigeria’s stolen oil may be exported through the facility. The majority owner of the platform, Lushann […]

Average Brent crude oil prices trade within $5 per barrel range for 13 months in a row

August 21, 2014 Source: U.S. Energy Information Administration Brent crude oil spot prices averaged $ 107 per barrel (bbl) in July, marking the 13th consecutive month in which average Brent crude oil prices were between $ 107/bbl and $ 112/bbl (see graph above). Although supply growth from non-OPEC countries has outpaced world consumption in the […]

Six formations are responsible for surge in Permian Basin crude oil production

July 9, 2014 Source: U.S. Energy Information Administration calculations, based on data from Drillinginfo Note: Production through December 2013 is reported. Production from January 2014 through May 2014 is estimated. Glorieta and Yeso are separate formations combined for this article. Additional amounts of Permian production come from other formations not included in this graph. The […]

North Dakota and Texas now provide nearly half of U.S. crude oil production

July 1, 2014 Source: U.S. Energy Information Administration, Petroleum Supply Monthly U.S. crude production in April 2014 was 8.4 million barrels per day (bbl/d), with two states, Texas and North Dakota, accounting for nearly half of this total. Texas production topped 3.0 million bbl/d for the first time since the late 1970s, more than doubling […]

Crude Oil Supplies Drop 0.8%

Crude Oil Supplies Drop 0.8% After increasing 1.7 million barrels the previous week, this latest supply squeeze puts oil inventories back on the downward trajectory they had been following since the beginning of May. While imports fell slightly from the previous week, a 546,000 … Read more on Motley Fool Separating finely mixed oil and water […]

Crude oil terminal owners called to show pollution cleanup funding

Crude oil terminal owners called to show pollution cleanup funding Albany. A state lawmaker from Albany is proposing that oil storage terminals that handle Bakken crude oil or tar sands oil — like the two terminals at the Port of Albany — be required to put up financial guarantees to cover the multimillion-dollar … Read […]

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