Canada is pursuing projects that will have a major impact not only on national production, but on the North American oil landscape as a whole, as Ashok Dutta explains in New Frontiers, this week’s Oilgram News column.
Posts Tagged ‘EIA’
By Ashok Dutta | April 20, 2015 05:26 AM Comments (0)
By News Desk | April 8, 2015 04:19 PM Comments (0)
US commercial crude oil stocks lifted to 482.393 million barrels for the week ended April 3 after adding 10.949 million barrels, the largest weekly build since 2001, according to the latest data from the US Energy Information Administration.
Even before the bearish data came out, NYMEX crude oil futures were trading in the red this morning, but the front-month contract dipped as low as $51.46/b after the news, falling $2.52/b. To read the full Platts analysis of the data, click here.
By News Desk | April 1, 2015 04:09 PM Comments (0)
Total US commercial crude oil stocks built for the 12th consecutive week, rising 4.766 million barrels for the week ended March 27, according to data released today by the US Energy Information Administration.
Stocks now top more than 471 million barrels, and stocks at Cushing, Oklahoma, increased 2.63 million barrels to 58.94 million barrels. Since mid-June 2014, when NYMEX crude oil future prices began falling, production has decreased on a weekly basis only five times, indicating that the wave of US oil is no joke. (The terrible April Fools’ allusion was required.) To read the full Platts analysis — with a promise of no more terrible jokes — click here.
By News Desk | March 25, 2015 05:30 PM Comments (0)
While US crude oil production was almost flat for the week ended March 20, total commercial stocks increased 8.170 million barrels to 466.678 million barrels, according to data released today from the US Energy Information Administration.
Refineries were slightly more active during the week, with the utilization rate increasing 0.9 percentage point to 89% of operable capacity. Maintenance season has kept utilization rate under 90% since January 16, with the exception of one week. To read a total breakdown of the latest EIA data, see the Platts analysis here.
By News Desk | March 18, 2015 04:08 PM Comments (0)
The latest data from the US Energy Information Administration shows US crude oil stockpiles rose 9.62 million barrels during the week ended March 13, again surpassing analysts’ expectations about the build. At 458.51 million barrels, US stockpiles for this time of year are at the highest level seen in at least 80 years, the EIA said. Learn more about crude oil production, imports, refinery demand and regional stocks in our latest Platts analysis, which you can read here.
By News Desk | March 11, 2015 03:12 PM Comments (0)
After a few weeks of higher-than-expected stock builds, analysts did a great job of pegging the build to US commercial crude stocks for the week ended March 6.
According to the latest data from the US Energy Information Administration, stocks rose 4.5 million barrels for the week, just a bit above analysts’ expectations. The inventories now come in at 448.9 million barrels, pushing further into record-high territory. The data was also released just a day after the EIA said it expects US crude oil production to increase to 9.35 million b/d in 2015 and 9.49 million b/d in 2016 and that inventories are likely to continue growing over the next couple of months.
For the full Platts analysis of the latest EIA oil data, click here.
By News Desk | March 5, 2015 04:58 AM Comments (0)
Analysts must be getting tired of inadvertently shooting too low with their estimates, but every week is a new week to get it right. Analysts surveyed by Platts on Monday expected crude oil stocks to increase 3.7 million barrels week over week, but the latest data from the US Energy Information Administration shows a build of 10.4 million barrels during the week ended February 27.
To read the full Platts analysis of the data, click here.
By Ross McCracken | February 27, 2015 12:01 AM Comments (1)
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.
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.