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crudeoil supply will rise more slowly than expected for the rest of 2025 and in 2026 and peak as early as this year, as WTI benchmark prices below $60 per barrel are testing the breakeven point of shale production, energy flows intelligence firm Kpler said on Monday.
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States fell by 1.057 million barrels for the week ending April 4, after a 6.037 million barrel spike in the prior week. So far this year, crudeoil inventories have climbed nearly 22 million barrels, according to Oilprice calculations of API data.
The value of Russian crudeoil exports have sunk in May to the lowest level in over two years, data on shipments and Russian crude prices compiled by Bloomberg showed on Wednesday. million barrels per day (bpd) of crudeoil, In the four weeks to May 25, Russia exported on average 3.39
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States rose by 6.037 million barrels for the week ending March 28, after a 4.6 So far this year, crudeoil inventories have climbed nearly 23 million barrels, according to Oilprice calculations of API data.
Crudeoil inventories in the United States saw a decrease of 2 million barrels during the week ending May 2, according to new data from the U.S. Crudeoil prices were trading down prior to the crude data release by the U.S. crudeoil inventories with draws in gasoline and distillate stocks.
billion contract to Strategic Storage Partners, LLChardly a household nameto manage the Strategic Petroleum Reserve (SPR)Americas emergency stash of crudeoil. The Department of Energy has awarded a new $1.4 The new contract covers a five-year term with the option to extend for another five.
Indias crudeoil imports from the United States jumped by 67% in March from a month earlier as Indian refiners scrambled to replace Russian volumes and the U.S. pushed for India and other major trade partners to buy more American energy. Indias U.S.
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States rose by 4.593 million barrels for the week ending March 14. So far this year, crudeoil inventories have climbed more than 21 million barrels, according to Oilprice calculations of API data. Analysts had expected a smaller 1.7
Crudeoil inventories in the United States saw a large increase of 6.2 Crudeoil prices were trading up prior to the crude data release by the U.S. crudeoil inventories amid a small gasoline draw. crudeoil inventories amid a small gasoline draw. ET at $74.50a
Crudeoil inventories in the United States saw an increase of 1.7 Crudeoil prices were trading down prior to the crude data release by the U.S. crudeoil inventories amid a strong gasoline draw. crudeoil inventories amid a strong gasoline draw. essentially
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States rose 3.76 So far this year, crudeoil inventories are up more than 23 million barrels, according to Oilprice calculations of API data. The API reported a 4.565 million barrel dip in the prior week.
Saudi Arabias crudeoil exports jumped by nearly 500,000 barrels per day (bpd) in February compared to January, the latest data from the Joint Organizations Data Initiative (JODI) showed on Tuesday. Saudi crudeoil production averaged 8.947 million bpd in February, essentially flat compared to the 8.917 million
Global seaborne crudeoil flows rose in March from February, just ahead of the supply increase coming from OPEC+ in April, oil flows tracking data by Bloomberg showed on Wednesday. Global crude exports averaged 39.92
Crudeoil futures tumbled over the past week, falling more than 6% as concerns over weakening global demand and a resurgent supply outlook weighed on sentiment. West Texas Intermediate (WTI) briefly hit a low of $56.39 before recovering to $59.24 by Thursdays close.
Chinese state-controlled refining giant Sinopec has returned to buying Russian crudeoil after halting purchases last month due to concerns about the U.S. sanctions on Russias oil trade and shadow tanker fleet imposed in January, trade sources told Reuters on Wednesday.
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States rose by 4.287 million barrels in the week ending May 9a shock after analysts had estimated a 2.4-million-barrel So far this year, crudeoil inventories are up more than 23 million barrels, according to Oilprice calculations of API data.
Crudeoil edged more than 2% higher on Wednesday, driven primarily by hopes that tensions will ease in the U.S.-China ET, Brent crude was trading up 2.09% at $66.02, while the U.S. China trade conflict and U.S. inventory data. At 1:28 p.m. benchmark, West Texas Intermediate (WTI), was trading up 2.12% at $62.63. A weaker U.S.
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States rose by 2.4 So far this year, crudeoil inventories have climbed more than 24 million barrels, according to Oilprice calculations of API data. million barrels for the week ending April 11.
While Alberta’s historical energy legacy has been defined by coal and crudeoil, the Canadian province has embraced renewables and carbon capture over the past two decades, and is now exploring small modular The post Alberta’s Deregulated Grid Is Bracing for 11 GW of New Demand appeared first on POWER Magazine.
Turkey has started to diversify its oil supply away from Russia and is buying crude from as far as Brazil after its top refiner limited intake of Russian oil only to G7 price-compliant barrels, Bloomberg reported on Tuesday, quoting data from Vortexa.
Weekly CrudeOil Storage as of May 16, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 1.3 crudeoil refinery inputs averaged 16.5 crudeoil imports averaged 6.1 Over the past four weeks, crudeoil imports averaged about 5.9
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States rose again, this time by 2.499 million barrels in the week ending May 16 after analysts had estimated a 1.85-million-barrel million-barrel draw. The API reported a 4.287 million barrel inventory increase in the prior week.
Crudeoil inventories in the United States saw an increase of 4 million barrels during the week ending May 9, according to new data from the U.S. Crudeoil prices were trading down prior to the crude data release by the U.S. crudeoil inventories with draws in gasoline and distillate stocks.
Weekly CrudeOil Storage as of May 9, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 4.0 crudeoil refinery inputs averaged 16.4 crudeoil imports averaged 5.8 Over the past four weeks, crudeoil imports averaged about 5.7
Weekly CrudeOil Storage as of May 2, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 2.0 crudeoil refinery inputs averaged 16.1 Over the past four weeks, crudeoil imports averaged about 5.8 million barrels from the previous week.
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States fell by 4.6 So far this year, crudeoil inventories have climbed more than 16 million barrels, according to Oilprice calculations of API data. million barrels for the week ending March 21. Analysts had expected a dip of 2.5
Crudeoil inventories in the United States saw an increase of 1.4 Crudeoil prices were trading up prior to the crude data release by the U.S. crudeoil inventories amid strong product draws. crudeoil inventories amid strong product draws. The Brent benchmark was trading
Crudeoil inventories in the United States saw a decrease of 2.7 Crudeoil prices were trading down prior to the crude data release by the U.S. On Tuesday, the American Petroleum Institute (API) reported a sizeable build in US crudeoil inventories of 3.76 Energy Information Administration.
The price slump in crudeoil that began last week has extended into this one as market players fears about a global recession deepen. At the time of writing, Brent crude was trading at just below $64 per barrel, while West Texas Intermediate was changing hands for $60.54 per barrel, both down by over 2% from Fridays close.
Weekly CrudeOil Storage as of April 25, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 2.7 crudeoil refinery inputs averaged 16.1 crudeoil imports averaged 5.5 Over the past four weeks, crudeoil imports averaged about 5.8
Weekly CrudeOil Storage as of April 18, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 0.2 crudeoil refinery inputs averaged 15.9 crudeoil imports averaged 5.6 Over the past four weeks, crudeoil imports averaged about 6.1
Weekly CrudeOil Storage as of April 11, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 0.5 crudeoil refinery inputs averaged 15.6 crudeoil imports averaged 6.0 Over the past four weeks, crudeoil imports averaged about 6.2
Weekly CrudeOil Storage as of April 4, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 2.6 crudeoil refinery inputs averaged 15.6 crudeoil imports averaged 6.2 Over the past four weeks, crudeoil imports averaged about 6.1
Weekly CrudeOil Storage as of March 28, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 6.2 crudeoil refinery inputs averaged 15.6 crudeoil imports averaged 6.5 Over the past four weeks, crudeoil imports averaged about 5.9
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States fell 4.49 So far this year, crudeoil inventories are up more than 18 million barrels, according to Oilprice calculations of API data. million barrels in the week ending May 2, after analysts had estimated a 2.5-million-barrel
Chinese crudeoil imports topped 12 million barrels per day (bpd) in March, the highest volume since August 2023, as flows of Iranian and Russian crude rebounded from the lows seen early this year with the U.S. million metric tons of crudeoil in March, data from the Chinese General Administration of Customs showed on Monday.
Crudeoil inventories in the United States saw a decrease of 3.3 Crudeoil prices were trading up prior to the crude data release by the U.S. crudeoil inventories amid a strong gasoline draw. crudeoil inventories amid a strong gasoline draw. million barrels in U.S.
Kazakhstans combined crudeoil and condensate production reached an all-time high in March, which further exceeded the countrys crude output ceiling under the OPEC+ deal. million barrels per day (bpd) of crudeoil plus condensate last month, industry sources told Reuters on Tuesday. million bpd in March
The United States exported in February the highest crudeoil volumes to India in more than two years as Indian refiners scramble for alternative supply after the latest U.S. sanctions on Russias oil trade. To compare, American crude exports averaged about 221,000 bpd throughout 2024. Last month, U.S. Last month, U.S.
Saudi Arabias crudeoil flows to China are expected to stay at a one-year high of about 48 million barrels in Juneroughly the same volume arriving in China from the worlds top crude exporter this month, trade sources told Reuters on Tuesday.
Crudeoil inventories in the United States saw an increase of 500,000 barrels during the week ending April 11, according to new data from the U.S. Crudeoil prices were trading up in a rare show of strength prior to the crude data release by the U.S. Energy Information Administration released on Wednesday.
Kazakhstan is likely to top its oil production plan this year, due to the expansion of the Chevron-led Tengiz field, Kazakhstans Energy Minister Erlan Akkenzhenov said on Friday, in yet another snub at OPEC+ quotas. million tons of crudeoil and condensate in 2025, or about 2 million barrels per day (bpd), which would be 9.7%
Crudeoil inventories in the United States saw an increase of 2.6 Crudeoil prices were trading sharply down prior to the crude data release by the U.S. million barrels during the week ending April 4, according to new data from the U.S. Energy Information Administration released on Wednesday.
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