Oil Imports at 23-Year-Low, Output Hits Another Record
The United States imported the least amount of crude oil on a weekly basis in 23 years, as OPEC-members Saudi Arabia and Venezuela cut their shipments to unusually low levels.
Bill to Reshape Colorado Oil, Gas Regulations Coming Soon, Democrats Say
Tighter rules on Colorado oil and gas development struck out at the ballot box in November and at the state Supreme Court in January. Now, Democrats, who control the Legislature, plan to introduce a sweeping bill to redefine the Colorado Oil & Gas Conservation Commission’s mission to emphasize public health and safety.
Crude Dragged Lower as US Production Hits Record
Oil declined for the first time in more than a week after U.S. government data showed an increase in crude stockpiles and production, and as the commodity tracked moves in the equity market.
Alberta Expects $1.7 Billion Profit From Crude-by-Rail Operation
Alberta is preparing a giant crude-by-rail operation to help its oil-sands producers cope with a pipeline crunch, and it expects a big profit from the venture.
Venture Formed to Provide Bulk Liquids Storage, Logistics
Hartree Partners, a New York-based commodities trading firm, is forming a business to provide storage, terminaling and logistics services for producers of crude oil, refined petroleum products and other bulk liquids.
February 8, 2019US Refiners Cut Off From Venezuelan Crude After Sanctions
U.S. oil refiners won’t be allowed to complete shipments of Venezuelan crude they booked before the Trump administration slapped new sanctions on the Latin American nation.
Oil Dips as China Slowdown Signals Demand Drop
Crude skidded to its worst loss in a month as disappointing corporate profit forecasts stoked concern about the economy, bruising a market already anxious about booming American oil supplies.
US Crude Production to Beat EIA’s Outlook by 23 Years
A year ago, the U.S. government envisioned American crude production averaging 11.95 million barrels a day in 2042. Shale drillers are set to exceed that this year.
Railcar Loads for Canadian Oil Hit Record Amid Pipeline Bottleneck
Heavy Canadian crude isn’t getting cheaper, but that hasn’t stopped companies from splurging on costly rail shipments.
US Sanctions on Venezuelan Oil Could Benefit China, India
If the United States decides to deploy a slate of sanctions that it is said to have drafted against the Latin American nation, American refiners would be forced to cease purchases. That may mean more supply becomes available for the OPEC producer’s other big customers: China and India.