By hellenicshippingnews Commercial crude oil inventories in Cushing, Oklahoma (located in Petroleum Administration for Defense District 2) and the U.S. Gulf Coast (PADD 3) totaled a record-high 309.4 million barrels as of the week ending November 27. Based on the recently released storage capacity and line fill data in the September Petroleum Supply Monthly(PSM), EIA estimates 70.2% utilization of working ... Read full story ›

Source:: Hellenic shipping news Oil

By hellenicshippingnews If the Organization of Petroleum Exporting Countries keeps its policy of favoring market share over prices when it meets Dec. 4, most members will probably find themselves unable to balance their budgets. Oil futures have tumbled more than 25 percent since OPEC's last meeting in June, yet the group will keep pumping to batter rival ... Read full story ›

Source:: Hellenic shipping news Oil

WASHINGTON, Dec 1 (Reuters) - President Barack Obama said on Tuesday the best way to drive innovation and reduce carbon emissions is "to put a price on it" but he does not expect that from the current Republican-dominated U.S. Congress.

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Source:: Reuters UK Natural Resources

* 50 percent increase in cargoes to India * Murban maintenance spurs buying * Total exports highest since July http://link.reuters.com/sav75v * Strong buying fails to boost differentials to dated Brent By Libby George LONDON, Dec 1 (Reuters) - West African crude oil exports to Asia are on track to hit a five-month high of 1.96 million barrels per day (bpd) in December on robust buying interest in India, traders and shipping fixtures showed on Tuesday. Refiners on the sub

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Source:: Reuters UK Natural Resources