The Rig Count Rises while Inventories Drop (slightly) and Crude Remains at $40-50 per barrel According to the EIA, during July, U.S. crude inventories fell by 4.1 million barrels to 522.5 million barrels. Additionally, despite falling crude prices, the U.S. oil rig count added 32 rigs in July, resulting in 463 total oil rigs in […]
Continue ReadingPrices Rise as Crude Oil Inventories Drop and Supply Disruptions occur in Canada and Africa According to the EIA’s Petroleum Status Reports, during June, U.S. oil inventories decreased by 10.5 million barrels to 526.6 million barrels. Total U.S. gasoline inventories also decreased by 1.1 million barrels to 239.0 million. These reductions partially stem from the […]
Continue ReadingPrices Rise as Crude Oil Inventories Drop and Supply Disruptions occur in Canada and Africa According to the EIA in its May Short-Term Energy Outlook, (STEO), during May, U.S. oil inventories decreased by 6.3 million barrels to 537.1 million barrels. Total U.S. gasoline inventories also decreased by 1.7 million barrels to 240.1 million. These reductions […]
Continue ReadingCrude Prices Rise Despite Continued Inventories Build For the week ending April 29, 2016, crude inventories in the U.S. totaled 543.4 million barrels–“historically high levels for this time of year” and constituting a 13.5 million barrel increase from April 1, 2016. During the month of April, EIA also published its monthly Short-Term Energy Outlook (STEO) […]
Continue ReadingCrude Oil Inventories Continue to Rise and the Rig Count is at a New All-time Low During the month of March, EIA published its Short-Term Energy Outlook (STEO) with price projections for the next two years: West Texas Intermediate Oil Price ($/bbl) 2016 2017 EIA Short-term Energy Outlook $34 $40 From the prior month’s […]
Continue ReadingCrude Oil Inventories – Creative Means to Avoid “Tank Tops” During the month of February, EIA published its Short-Term Energy Outlook (STEO) and Genscape released its US Crude Oil Production Forecast Report, both with price projections for the next two years: West Texas Intermediate Oil Price ($/bbl) 2016 2017 EIA Short-term Energy Outlook $38 $50 […]
Continue ReadingThis Overview is part of our North America Logistics Review subscription service. During the month of January, EIA published its Short-Term Energy Outlook (STEO), including price projections for the next two years: WTI and Brent are expected to average respectively $38 and $40 per barrel in 2016 and $47 and $50 in 2017. In 2015, […]
Continue ReadingThis Overview is part of our North America Logistics Review subscription service. The energy industry ushered in 2015 in a low price environment. Through year-end 2015, oversupply in the market, coupled with data indicating weak demand growth in China, continued to exert strong downward pressure on crude prices. On the supply side, high inventory levels […]
Continue ReadingThis overview is part of our North America Logistics Review subscription service. US Pipeline Projects are Moving Ahead The Association of Oil Pipe Lines (AOPL) and the American Petroleum Institute (API) released their 2015 US Liquids Pipeline Usage & Mileage report. US crude pipeline mileage grew by an estimated 12,000 miles from 2010 to 2015. […]
Continue ReadingThis overview is part of our North America Logistics Review subscription service. Keystone XL – no go – for now After 7 years of review, U.S President Barack Obama rejected TransCanada’s proposed Keystone XL pipeline project citing that the project “would not serve the national interests of the United States.” TransCanada’s request to the State […]
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