OPEC output took a significant decline in March, according to the latest Platts survey. It also marked a reversal of recent trends, wherein Saudi Arabia would normally make up for shortfalls out of other OPEC countries. But this time, Iraq output fell, as did that of Libya, but Saudi output declined as well. You can read Platts’ analysis here.
Posts Tagged ‘crude oil’
By News Desk | April 10, 2014 02:10 PM Comments (0)
By James Bambino | March 27, 2014 12:19 PM Comments (5)
In a perfect world of crude pricing, there would exist a mechanism to soak up excess length when prices were low, and add length into the market when prices were high.
In the world of money, this is called a central bank, with a dual mandate of keeping inflation low and employment as full as possible. There is no central bank for crude oil. But if there were, its dual mandate would be a price floor for producers and a price ceiling for consumers. Read the rest of this entry »
By News Desk | March 26, 2014 03:53 PM Comments (0)
U.S. Gulf Coast crude oil stocks hit record highs during the week ended March 21st, reaching 200.3 million barrels, as growing pipeline capacity from Cushing, Oklahoma, sent barrels southward, according to data released Wednesday by the US Energy Information Administration (EIA). Read the full Platts analysis here.
By News Desk | March 19, 2014 03:21 PM Comments (1)
US crude oil stocks rose a greater-than-expected 5.9 million barrels the week ended March 14 as refiners continued to ease back run rates due to seasonal maintenance, according to data released Wednesday by the US Energy Information Administration. Read our analysis here.
By Richard Swann | March 14, 2014 02:20 PM Comments (0)
The oil market is no stranger to conflicting price signals, and the current period of relatively calm prices is a case in point.
The ongoing standoff between Russia and the West has so far caused only a relatively small, and short-lived rise in crude prices, despite the huge importance of oil trade between Russia and Europe, in particular.
If you want to know why the reaction was not bigger, you might want to take a look at the latest monthly report from the International Energy Agency, which has some very interesting data in it.
By Joshua Brown & Richard Capuchino | March 12, 2014 02:12 PM Comments (1)
The first domino of what could be a new page in the shifting international crude market fell in late February when Cosmo Oil imported a cargo of Mexican crude to its refinery in Japan.
This seemingly insignificant transaction actually tells yet one more story in the larger tale about the changes in crude exports, especially for countries that once had a firm grasp on the US marketplace.
By News Desk | February 20, 2014 02:15 PM Comments (0)
By Jamie McDuell | January 30, 2014 06:55 AM Comments (1)
In January, Iraq found itself once more beset by a wave of insurgency, as Sunni extremists took hold of large areas of Ramadi and all of Fallujah, the two main cities in Anbar province. Given its strategic importance to global oil supply, our Design and Production team have put together this map detailing the complex web of Iraq’s oil and gas infrastructure.
By News Desk | January 29, 2014 05:21 PM Comments (0)
US commercial crude oil stocks jumped 6.4 million barrels, data released Thursday by the US Energy Information Administration showed. The surge in stocks comes despite ramped-up run rates as units came back online after an intense period of cold weather that caused US refiners to shutter some units. You can see our analysis here.