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What’s Behind The Crash In Crude?
What’s Behind The Crash In Crude? Oil prices crashed to new one-year lows on Tuesday, dragged down by a deepening sense of global economic gloom as well as fears of oversupply in the oil market itself. The reasons for the sudden meltdown were multiple. Rising crude oil inventories and expected increases in shale production weighed […]
No, The U.S. Is Not A Net Exporter Of Crude Oil
No, The U.S. Is Not A Net Exporter Of Crude Oil Last week Bloomberg created quite a stir with this story: The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years. I have seen a number of follow-up stories that praised the significance of this development, but others laughed it […]
Is Gasoline Demand Really Slipping?
Is Gasoline Demand Really Slipping? Genscape’s Weekly Gasoline Demand Report data shows relatively flat growth in weekly year-on-year demand for September through November. On the other hand, the U.S. Energy Information Administration (EIA) Weekly Products Supplied data has shown year-on-year declines over the same period despite lower gasoline prices. Our data shows U.S. total motor gasoline […]
What Crashing Refining Margins Mean For Oil Markets
What Crashing Refining Margins Mean For Oil Markets Oil prices have plunged to one-year lows, but refiners in certain parts of the U.S. are not benefitting from cheaper crude. According to new data from the EIA, refining margins for motor gasoline have fallen to five-year lows. “Flattening year-over-year growth in gasoline demand in the United […]
Oil Falls On Crude Inventory Build
Oil Falls On Crude Inventory Build Crude oil prices slipped further down today after the Energy Information Administration reported crude oil inventories for the week to November 23 had added 3.6 million barrels. That’s compared with a build of 4.9 million barrels a week earlier. The EIA figures came after yesterday the American Petroleum Institute reported an estimated inventory […]
WTF Just Happened with Natural Gas?
WTF Just Happened with Natural Gas? If you blinked, you missed it. The price of natural gas for December delivery plunged 19% on Thursday, the biggest percentage plunge since February 2003. This comes after futures prices had skyrocketed 20% on Wednesday to $4.931 per million Btu intraday, before settling at $4.837, the highest settlement price […]
U.S. Oil Production Is Set To Soar Past 12 Million Bpd
U.S. Oil Production Is Set To Soar Past 12 Million Bpd Rising shale production is putting the United States on track to hit the 12 million bpd oil production mark sooner than previously forecast, the Energy Information Administration (EIA) said in its November Short-Term Energy Outlook (STEO). Next year’s U.S. crude oil output is now […]
Peak Shale: Is the US Fracking Industry Already in Decline?
Peak Shale: Is the US Fracking Industry Already in Decline? In 2016, lower oil prices led to an overall drop in production for shale companies, which use horizontal drilling and fracking to extract oil and gas from shale formations such as the Marcellus and Permian. This was one of the few relatively positive financial periods for […]
Every Big Bit Helps
Every Big Bit Helps The post describes how new supercritical CO2 Brayton Cycle turbines may revolutionise the efficiency of electricty generation. Background image, existing Rankine Cycle steam turbine. Foreground, Brayton Cycle turbine with same power rating. Let’s say you and I need to move 1 million tons of sand. You show up to the site […]
US Oil Exports Are Exceeding Almost All Predictions—Thanks to Fracking
US Oil Exports Are Exceeding Almost All Predictions—Thanks to Fracking The U.S. Energy Information Administration (EIA) reported in September that crude oil exports are continuing to set records, mostly due to the fracking boom in the Permian Basin, in Texas and New Mexico. June exports hit a record 2.2 million barrels per day, while the monthly average was up […]
US Demands For More Oil Could Backfire
US Demands For More Oil Could Backfire This week the State Department accused OPEC of hiding spare capacity exceeding 1.4 million barrels daily. It urged the cartel to use it to stop the oil price rally that has continued uncomfortably close to midterm elections. The request—or demand, depending on your interpretation—is unprecedented and it might […]
How Much Spare Capacity Does Saudi Arabia Really Have?
How Much Spare Capacity Does Saudi Arabia Really Have? Saudi Arabia has pledged to cover any supply gap that may emerge as Iranian oil goes offline, but how much spare capacity does it really have? The massive reserve of spare capacity located in the Saudi desert is the stuff of legend, taken as gospel in […]
Is The Bakken Close To Breaking?
Is The Bakken Close To Breaking? While the Permian has experienced a drilling boom and has received tons of media attention, a lesser-known but still remarkable revival has been underway in the Bakken this year. At the same time, the increased rates of drilling in North Dakota are starting to reveal signs of strain on […]
