Global Energy Industry News

S&P Global Platts Analysis of U.S. Energy Information Administration (EIA) Data: U.S. Crude Oil Inventories Showed Biggest Weekly Jump on Record

November 3, 2016
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U.S. crude oil stocks rose a record 14.42 million barrels last week after imports rebounded sharply while gasoline and distillate stocks declined according to Energy Information Administration EIA

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Source:: Oil Voice […]

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Here’s the catch-22 for the oil market

November 3, 2016
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By hellenicshippingnews Oil prices could be heading lower as OPEC dithers, the election raises fears and traders stand on the sidelines. OPEC will dictate where oil prices head for the remainder of the year and into 2017 and the organization’s failure to come to an agreement at […]

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U.S. Oil Output Set to Decline as OPEC Deal Up in Air, EIA Says

November 3, 2016
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By hellenicshippingnews U.S. crude production is set to decline this year as the Organization of Petroleum Exporting Countries struggles to put a dent in global oversupply, according to the head of the U.S. Energy Information Administration. Output in the U.S. will fall 800,000 barrels […]

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Europe rushes to meet U.S. fuel demand, spiking freight costs

November 2, 2016
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European oil traders rushed on Tuesday to book vessels to carry gasoline to consumers on the U.S. East Coast left stranded without their main domestic supply source, more than quadrupling shipping costs, traders and ship brokers told Reuters.

An explosion late on Monday on the Colonial pipeline […]

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