Global oil supply and demand forecasts for 2015 have changed significantly recently, but these changes have largely cancelled each other out: the outlook is still one of a market roughly in balance. However, this ignores the tectonic shifts taking place under the surface. US output growth is decelerating. If futures markets pre-empt this, as they did in February, they risk reversing it, which could produce another drop in prices, as Ross McCracken, managing editor of Platts Energy Economist, explains.
Archive for the ‘Platts analysis’ Category
By Ross McCracken | February 27, 2015 12:01 AM Comments (1)
By News Desk | February 25, 2015 04:49 PM Comments (0)
US refineries scaled back for the week ended February 20 as part of the ongoing maintenance season, contributing to US commercial crude oil stocks building to a record 434.1 million barrels, according to the latest data from the US Energy Information Administration.
The stocks increased 8.4 million barrels, more than double the amount expected by analysts surveyed by Platts on Monday. Production also rose, and more details of the latest EIA data can be found in the Platts analysis here.
By News Desk | February 19, 2015 04:32 PM Comments (2)
After rising yet again, US crude oil stocks totaled 425.6 million barrels for the week ended February 13, according to the most recent data from the US Energy Information Administration. The release of the data was delayed due to Presidents Day.
By News Desk | February 11, 2015 04:34 PM Comments (0)
For the third week in a row, US crude oil stocks as reported by the US Energy Information Administration set a record. Stocks totaled 417.9 million barrels for the week ended February 6, according to the latest data, up 4.9 million barrels from the previous week and surpassing analysts’ expectations. The rise also comes despite refineries running at higher rates than usual for this time of the year. To read the full Platts analysis of the latest data, click here.
By Michael McCafferty | February 11, 2015 12:01 AM Comments (0)
The dramatic drop in crude prices over the past year has sent shock waves throughout global markets. Petrochemical markets have also been touched, in some instances in a positive manner, as cheaper crude translates into lower feedstock cost. This analysis looks at a specific sector of the petrochemical market — coal-to-olefins and methanol-to-olefins production — and evaluates how the changing relationship between coal and crude prices is impacting production economics in the largest growing petrochemical market in the world, China.
By News Desk | February 4, 2015 06:01 PM Comments (0)
Just one week after setting a record for crude oil stocks, the US has topped itself again as commercial crude oil stocks increased 6.3 million barrels to 413.1 million barrels in the week ended January 30, according to the latest data from the US Energy Information Administration.
The stock increase was more than twice what analysts polled by Platts expected. To read a thorough analysis of the latest data, click here.
By News Desk | January 22, 2015 04:20 PM Comments (0)
US commercial crude stocks jumped 10.1 million barrels during the week ended January 16, according to the latest data from the US Energy Information Administration. The inventory, at 397.9 million barrels, was 16% above the EIA five-year average for the same reporting week. Read a thorough analysis of the EIA data here.
By News Desk | January 14, 2015 04:10 PM Comments (0)
The latest data from the US Energy Information Administration shows US commercial crude oil stocks were up 5.4 million barrels to 387.8 million barrels for the week ended January 9. Cushing stocks have risen 10 million barrels during the last six weeks, possibly driven by traders storing crude oil there even as Cushing’s role has mostly transformed from a storage hub to a transit hub. Read the full Platts analysis here.
By News Desk | December 24, 2014 10:11 AM Comments (0)
A big net importer of crude oil or oil products doesn’t just import. It might export too, a lot, and the US is a prime example of that. The US remains a net importer of about 5 million b/d or less of total petroleum barrels, yet is the single biggest exporter of oil products in the world.
China isn’t quite at that level yet, but what started out as an interesting quirk in the data earlier this year is now clearly a trend: China is a net exporter of oil products. You can see our analysis of the November figures here.
By News Desk | December 17, 2014 04:05 PM Comments (0)
US commercial crude oil stocks were 847,000 barrels lower for the week ended December 12, helped along by a drop in imports, according to data released Wednesday from the US Energy Information Administration.
It represented a smaller-than-expected draw, but oil futures jumped regardless on a wave of short covering. Read more in the Platts analysis here.