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

OilPrice

Despite the expected rise in OPEC+ production in April, Saudi Arabia is set to ship significantly lower crude oil volumes to China next month to levels not seen in over a year, Reuters reported on Thursday, quoting trade and industry sources.

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Iran Oil Exports to China Shrink

OilPrice

Crude oil exports from Iran to its biggest buyer, China, shrank last month on tighter U.S. 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. Per that data, Iran shipped a little over 1.1

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Weak refinery, export demand weakens prices for Midland crude along Texas coast

Oil & Gas 360º

(Investing) –HOUSTON – The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. refinery utilization stood at 85.6% crude export volumes also eased 9,000 bpd to 3.88

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Texas oil and gas jobs increased in May despite market turmoil, new report says

Oil & Gas 360º

Among the 19 specific industry sectors TIPRO uses to define the Texas oil and natural gas industry, Support Activities for Oil and Gas Operations led in the ranking for unique job listings in May with 1,972 postings, followed by Gasoline Stations with Convenience Stores (1,447) and Petroleum Refineries (824).

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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. Crude inventories rose by 1.4 million barrels to 435.2

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Energy Market Assessment: Expectations and oil prices have bottomed with heading up to summer

Oil & Gas 360º

Energy Market Assessment: Expectations and oil prices have bottomed with heading up to summer- oil and gas 360 The drop in the price of crude oil, from its Winter high to a Spring-Time low exaggerated by Tariff Fear has us conclude the drop has bottomed. crude oil inventory.

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US refiner Phillips 66 posts bigger-than-expected quarterly loss

Oil & Gas 360º

(BOE Report) – Phillips 66 reported a bigger-than-expected loss in the first quarter on Friday, as lower refining margins amid a widespread maintenance and turnaround activity across the U.S. Its refinery utilization stood at 80% compared with 92% last year. refining sector weighed on its performance. a barrel a year earlier.

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