Oil Demand Seen Peaking by 2023 While Climate Targets Are Missed
Within 20 years, oil use will have long since peaked, renewables and natural gas will account for about half of energy supply and the cost of keeping the lights on will plummet. But that still won’t be enough to meet climate goals, according to a forecast from energy and maritime services company DNV GL Group AS.
Airlines Are Stepping Up Oil Hedges Before 2020 Shipping Rule Bites
Airlines are starting to hedge against the risk that fuel prices could be driven higher by rules targeting another industry’s environmental performance.
China Shipowners Stop Hauling Iranian Oil as US Sanctions Near
China’s shipowners are shunning Iran’s oil, while the OPEC producer is using its own tankers to supply top customers as impending U.S. sanctions threaten to disrupt global crude trade.
August 21, 2018Shipping-Fuel Rule Change Cuts Demand for Canadian Oil
New rules limiting the amount of sulfur allowed in shipping fuel is expected to cut demand for high-sulfur fuel oil and the sour crude that yields it. In Canada, that could extend — or worsen — the biggest price slump in nearly five years.
Pilot Flying J Expands Into Oil Exploration and Production Business
Pilot Flying J is expanding its business portfolio with a move into the water, sand and crude oil-hauling business.
US Expected to Become World’s Top Oil Producer Next Year
The United States has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world’s biggest oil producer for the first time in more than four decades.
Oil Rises as Shrinking US Stockpiles Add to Global Tightness
Crude rose to a one-week high July 10 on concern shrinking U.S. crude stockpiles will exacerbate wide-ranging global supply disruptions.
Oil Surges Above $75 in New York as Supply Outages Outpace OPEC
Crude soared above $75 a barrel in New York for the first time since 2014 on signs global supply outages outweigh OPEC’s pledged production rise.
Oil Declines After Unexpected Increase in US Crude, Gasoline Stockpiles
Oil retreated from the highest price in more than three years after surprise increases in U.S. crude and gasoline stockpiles.
Oil, Sand Railcars Compete for Track Space in Permian Basin
Oil producers may be getting in their own way in the race to pump crude from the fertile Permian Basin.