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Canada, The Unexpected Winner in the Global Oil Boom
Canada, The Unexpected Winner in the Global Oil Boom The Trans Mountain Expansion Project, now finally completed and operational after years of delays, is changing the fortunes of the oil sands. Canada’s oil sands producers have started ramping up production last year in anticipation of the start-up of exports through the TMX pipeline. The production […]
Libya Oil Exports Halted
Libya Oil Exports Halted
BofA: Sharp Decline In Russian Exports Could Send Oil Above $150
BofA: Sharp Decline In Russian Exports Could Send Oil Above $150 Analysts: Asian buyers are unlikely to be able to absorb all the Russian oil unwanted in the West. There is a distinct possibility of a sharp drop in Russian oil exports. BofA: A sharp contraction in Russian oil exports could push Brent well past […]
Mexico to Stop Exporting Oil in 2023 in Self-Sufficiency Quest
Mexico to Stop Exporting Oil in 2023 in Self-Sufficiency Quest Octavio Romero, CEO of PEMEX, speaks during an interview. (Alejandro Cegarra/Bloomberg) Mexico plans to end crude oil exports in 2023 as part of a strategy by the nationalist government of Andres Manuel Lopez Obrador to reach self-sufficiency in the domestic fuels market. Petroleos Mexicanos, the […]
Iran Opens Export Terminal To Bypass World’s Biggest Oil Chokepoint
Iran Opens Export Terminal To Bypass World’s Biggest Oil Chokepoint Iran says it has opened its first oil export terminal in the Gulf of Oman to allow Tehran to avoid using the strategic Strait of Hormuz shipping route that has long been a focus of regional tensions. “Today, the first shipment of 100 tons of […]
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the United States—at least for now—isn’t as reliant on oil from the Middle East like it used […]
THE COMING MIDDLE EAST OIL CRISIS: The Collapse Of Net Oil Exports
THE COMING MIDDLE EAST OIL CRISIS: The Collapse Of Net Oil Exports The Middle East is heading for a crisis in its oil industry. Unfortunately, the market doesn’t realize there is any danger on the horizon because it mainly focuses on how much oil the Middle East is producing rather than its exports. You see, […]
U.S. ‘’Oil Weapon’’ Could Change Geopolitics Forever
U.S. ‘’Oil Weapon’’ Could Change Geopolitics Forever In a dynamic that shows just how far U.S. oil production has come in recent years, the U.S. Energy Information Administration (EIA) said on Monday that in the last two months of 2018, the U.S. Gulf Coast exported more crude oil than it imported. Monthly net trade of crude oil […]
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 […]
Saudis Reportedly Target US Inventories By Slashing Oil Exports
Saudis Reportedly Target US Inventories By Slashing Oil Exports WTI prices briefly popped above $52 before fading quickly after Bloomberg reported that after flooding the US market in recent months, Saudi Arabia plans to slash exports starting in January in an effort to dampen visible build-ups in crude inventories. Bloomberg reports that, according to people […]
Does The U.S. Really Need Saudi Oil?
Does The U.S. Really Need Saudi Oil? “Saudi Arabia — if we broke with them, I think your oil prices would go through the roof. I’ve kept them down,” President Trump told reporters on Tuesday. “They’ve helped me keep them down. Right now we have low oil prices, or relatively. I’d like to see it […]
Sino-Russian interdependence will be based on oil
Sino-Russian interdependence will be based on oil Although Beijing is Moscow’s largest trading partner, while Russia only ranks in the second ten among China’s importers, the Kremlin is strategically the most important contractor because it supplies the most desirable product – oil – and Chinese demand for this raw material is growing. It appears that […]
Saudis Cut Oil Exports To U.S. To Boost Crude Prices
Saudis Cut Oil Exports To U.S. To Boost Crude Prices Saudi Arabia has been slashing oil exports to the United States over the past two months, in what looks like a move to force a reduction in the world’s most transparently reported inventories that could put the Saudis on a collision course with U.S. President […]
Iran Shuts Off Oil Tanker Tracking System As US Sanctions Start
Iran Shuts Off Oil Tanker Tracking System As US Sanctions Start The US on Monday (Nov 5) is reimposing disciplinary measures targeting Iran’s oil, shipping, insurance, and banking sectors in what US Secretary of State Mike Pompeo called “the toughest sanctions ever placed” against Iran. In response, Tehran has reportedly turned off all oil tanker […]
Saudi Update October 2018
Saudi Update October 2018 We do not know where the Khashoggi case will go but what is happening in Saudi Arabia is important for the world. Jodi data up to Aug 2018, released 19/10/2018 http://www.jodidb.org Fig 1: Saudi Arabia is crude exporter #1 Note that these are gross exports. The US (which is a net […]
