Crude Oil

Domestic crude production climbed back to the high mark of the pandemic era as U.S. consumption of petroleum products increased and mounting Chinese demand fueled global growth expectations. American exploration and production (E&P) firms boosted output by 100,000 b/d to 12.3 million b/d for the week ended March 17, according to the U.S. Energy Information…

Saudi Arabia’s state-owned oil producer posted record profits for 2022, up nearly 50% year/year, lifted by soaring oil and natural gas prices. Saudi Arabian Oil Co., better known as Aramco, tripled the 2022 profit recorded by ExxonMobil, lifted by higher sales volumes and improved margins for refined products. Commodity prices surged early in the year…

The United States have burgeoned as a key energy supplier amid Russia’s war in Ukraine, with petroleum product exports doubling from 2010-2022, and the Energy Information Administration (EIA) is expecting this growth to continue.  In the past year of a major global energy reshuffling, average U.S. petroleum product exports grew 7% to 5.97 million b/d…

American exploration and production firms’ (E&P) continued to drive oil output at strong levels over the last two weeks, though activity slipped from the highs of the year. E&Ps generated 12.2 million b/d for the week ended March 10, even with the prior week, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status…

U.S. crude output last week held at robust levels as American exploration and production (E&P) companies remained active to bolster domestic supplies and help meet global demand. E&Ps generated 12.3 million b/d for the week ended Feb. 24. That was on par with the highest level since March 2020, when the pandemic was declared. U.S.…

U.S. crude production held firm at a pandemic-era high as new forecasts called for rising global demand tied to an expected surge in Chinese travel fuel consumption. American producers generated 12.3 million b/d for the week ended Feb. 10, on par with the prior week and the high mark of the past nearly three years,…

Domestic crude production climbed to the highest level since 2020 as demand for petroleum products pushed ahead last week, the U.S. Energy Information Administration (EIA) said Wednesday. American producers generated 12.3 million b/d for the week ended Feb. 3, up by 100,000 b/d from the prior week, data from EIA’s latest Weekly Petroleum Status Report…

Enterprise Product Partners LP has $3.6 billion of assets scheduled to begin commercial operations this year to expand natural gas, liquids and crude oil systems across the United States, with almost $2 billion more rolling off the boards through 2025, executives said Wednesday. Co-CEOs Jim Teague and Randy Fowler shared a microphone with the executive…

U.S. oil producers remained active through January, with output last week holding at a pandemic-era high as it did across the month and in late 2022. The U.S. Energy Information Administration (EIA) said Wednesday production for the period ended Jan. 27 stood at 12.2 million b/d – on par with the prior week and the…