Saturday, October 19, 2024

U.S. Crude Draw was a Million Barrels More than Expected

EIA reports a crude oil draw of 2.4 MMBO Crude oil inventories fell 2.4 MMBO for the week ended December 2, 2016, according to the Energy Information Administration. The decline in crude stocks was more than 1.0 MMBOPD more than analysts anticipated ahead of the report Wednesday. Despite the larger-than-expected draw from crude oil inventories, the report was still bearish,

OPEC Compliance Might Cause Global Crude Deficit in 2H 2017

Demand could outstrip supply in the back-half of next year, but only if OPEC and non-OPEC producers follow through on cuts Oil prices leapt over $50 per barrel following OPEC’s agreement to cut production last week, and they could be headed higher next year as the decision leads to a supply deficit in the second-half of 2017. If both OPEC

75th Pearl Harbor anniversary marked aboard last ship from the attack

From the Baltimore Sun: Pearl Harbor survivor Thomas Talbott tossed a memorial wreath from the decks of the Coast Guard Cutter Taney on Wednesday to mark the 75th anniversary of the Japanese attack that drew the United States into World War II. Then a Navy musician played taps, and a rifle salute sent gulls squealing into the air overhead. About

Donald Trump Taps Oklahoma Attorney General Scott Pruitt to Lead EPA

From the Wall Street Journal Fossil fuel advocate has been harsh critic of agency, fought Obama’s environmental regulations WASHINGTON—President-elect Donald Trump has tapped Oklahoma Attorney General Scott Pruitt to lead the Environmental Protection Agency, according to a transition official, choosing a harsh critic of the agency to take its helm. As the chief legal officer of a big oil and natural-gas producing

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