(Oil Price) – Saudi Arabia’s crude oil exports increased by 80,000 barrels per day (bpd) to 5.75 million bpd in September—the highest in three months, the latest data from the Joint Organizations Data Initiative (JODI) showed on Monday. The September crude exports were the highest since June, likely due to the lower direct crude burning for power generation as the hottest months in
Oil Price Saudi Arabia’s crude exports plunged to a 28-month low in August as the world’s largest crude oil exporter continued to cut its production to “stabilize” the market, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Saudi crude oil exports fell to 5.58 million barrels per day (bpd) in August, down by 428,000 bpd from July—the lowest level
Oil Price Saudi Arabia, the world’s top crude oil exporter, saw its crude exports drop to a five-month low in April, a month before the first of the voluntary Saudi cuts began in May, data from the Joint Organizations Data Initiative (JODI) showed on Monday. In April, Saudi Arabia’s crude oil exports slumped by 207,000 barrels per day (bpd) from March, to
World Oil WASHINGTON – The American Petroleum Institute (API) and the American Exploration and Production Council (AXPC) today released new analysis demonstrating the significant and growing economic benefits of America’s abundant crude oil resources for both domestic use and global export. The study, conducted by ICF, analyzed the six-year period since a bipartisan Congressional majority lifted a ban on exporting U.S. crude
World Oil (Bloomberg) –A House Democrat who’s urging the White House to reduce oil prices by banning exports of U.S. crude oil says he’s been told the idea is under consideration. Representative Ro Khanna of California said he disagrees with a number of industry analysts and economists who have said the idea could backfire. Representative Ro Khanna, a Democrat from
Reuters Nov 18 – Saudi Arabia’s crude oil exports in September rose for a fifth month in a row to their highest since January, the Joint Organisation Data Initiative (JODI) said on Thursday. The kingdom’s crude oil exports rose to 6.516 million barrels per day (bpd) in September, up from 6.450 million bpd in August. Total exports including oil products
CNBC The shock winter storm in Texas that left millions without power and took dozens of lives also froze a major local commodity: the Lone Star State’s oil production, slashing some 4 million barrels per day from U.S. output. The consequence will be a boost in revenue and potentially increased exports among rival oil-producing nations, commodities experts say. Analysts estimate
Reuters NEW DELHI – The share of Canada and the United States of America in India’s January oil imports surged to a record 11% while that of the Middle East and South America declined, data obtained from sources showed. Asia’s third-largest economy imported about 4.8 million barrels per day (bpd) oil in January, a decline of 6% from the previous
EIA Oil & Gas 360 Publishers Note: With the uncertainty of OPEC and OPEC + to control inventories, it would make sense for a national security to create the North American Oil Produces Consortium (NOPC) with Canada, US and Mexico. We would be able to get most different blends of oil and energy, and not rely on world leaders out
Reuters NEW YORK – U.S. crude oil exports are expected to sputter through the end of 2020 due to weak production and unfavorable economics for foreign buyers of U.S. oil, traders and analysts said. U.S. oil demand is down about 13% from last year due to the coronavirus pandemic. Exports have become critical revenue sources for many oil companies, and
EIA In the first half of 2020, the United States exported 5.4 million barrels per day (b/d) of petroleum products, a slight increase of 48,000 b/d (1%) from the first half of 2019. Greater exports of propane and other hydrocarbon gas liquids (HGLs) more than offset declines in U.S. exports of transportation fuels such as gasoline, distillate fuel oil, and
In a federal tax refund case with significant implications for the oil and gas industry…
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