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Wildfires Cripple Alberta’s Oil Production

OilPrice

Oil production from Canada’s oil heartland, Alberta, slumped to a two-year low in May as wildfires in the province and maintenance on some oil sands operations dragged oil output to a two-year low. million barrels per day (bpd) of crude oil in May, according to provincial data cited by Bloomberg. Alberta produced on average 3.61

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U.S. Oil Reserve Refill Pushed Back Seven Months

OilPrice

Crude oil deliveries to the strategic petroleum reserve will be delayed by seven months due to maintenance, the Department of Energy has said. million barrels into the SPR in the first five months of this year but since January, only 8.8 million barrels have been pumped into the reserve, Reuters noted in a report on the news.

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Russia to Boost Exports of China’s Favorite Russian Crude in July

OilPrice

Russia is set to raise the shipments of the ESPO Blend crude from its Far East port of Kozmino in July, after lower exports this month due to maintenance, trading sources told Reuters on Wednesday. ESPO loadings from Kozmino are expected at 4 million tons, or about 970,000 barrels per day (bpd) in July, up from 3.6

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Saudi Crude Supply to China Set for One Year Low in April

OilPrice

Spring maintenance at some large state-controlled refineries in the worlds top crude oil importer is the key reason for the low volumes that Saudi Arabia has allocated for April. These amount to about 34 million barrels, down from 41 million barrels allocated for March, according to Reuters data.

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Diesel's Supply Crunch Leaves Market Crying Out for Barrels

Rigzone

Image by Yarphoto via iStock The world’s biggest oil product market is hungry for barrels as traders grapple with a summer supply squeeze. ” Diesel markets spiked last month when the fighting between Israel and Iran threatened millions of barrels of fuel exports from the Persian Gulf.

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Iran Oil Exports to China Shrink

OilPrice

sanctions and refinery maintenance, Bloomberg has reported, citing data from Vortexa. million barrels of crude to China daily, which was 20% lower than export flows in May 2024. Crude oil exports from Iran to its biggest buyer, China, shrank last month on tighter U.S. Per that data, Iran shipped a little over 1.1

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US crude inventories rise, fuel draws down amid ongoing maintenance, EIA says

BOE Report

crude oil stockpiles rose and fuel inventories fell last week as seasonal refinery maintenance season ticked along, the Energy Information Administration (EIA) said on Wednesday. million barrels to 435.2 Crude inventories rose by 1.4