Demand for gasoline climbed last week and helped to drive a second consecutive gain in U.S. petroleum consumption, while oil production leveled off, new federal data show. The U.S. Energy Information Administration (EIA) said Wednesday overall demand for petroleum products for the period ended Dec. 16 climbed 5% week/week. The increase was driven by a…
Tag / oil supply
Subscribeoil supply
Articles from oil supply
WTI Oil Price to Average $75 in 2022 and Remain Elevated for Years, Raymond James Predicts
With demand mounting and global supply in catch-up mode, oil prices are likely to climb in the second half of 2021 and hold strong for several years, as economies around the world recover from the coronavirus pandemic and drive up energy needs, analysts at Raymond James & Associates Inc. said Monday. The analysts, including John…
Taproot Adding More Oil Infrastructure in DJ
Denver-based Taproot Energy Partners LLC said its midstream affiliate plans to construct an oil gathering pipeline at its Platte River property in the Denver-Julesburg (DJ) Basin for Confluence Resources LP. Taproot, which plans to have the project in service by July 1, said it now has more than 325,000 dedicated acres from five separate producers. …
Global Energy Hubs in South Texas, Netherlands Working to Advance Maritime Operations
The Port of Corpus Christi in South Texas, one of the nation’s top oil and natural gas exporters, has signed a memorandum of understanding (MOU) with Europe’s largest port in the Netherlands to advance global maritime operations. Co-developing trade and commercial opportunities, exchanging information and advancing the development and deployment of technologies related to navigational…
New Five-Year Plan for Mexico E&P Potential Sign of Future Bid Round Reactivation
The release of a new five-year plan by Mexican Energy Ministry Sener could be a sign that future exploration and production (E&P) bid rounds for private sector operators are in the offing. That’s according to analysis done by Mexican consultancy Talanza. E&P bid rounds have been frozen since President Andrés Manuel López Obrador came to…
Monthly Oil Supply Disruptions Surge on Coronavirus and Middle East Tumult, EIA Says
Political instability, sanctions, hurricanes and the coronavirus pandemic intersected and sent oil production outages soaring this year, new federal data show. Disruptions to crude oil and condensate production were up among members of both the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries through September, the U.S. Energy Information Administration (EIA) said Tuesday.…