Earth Energy Alliance CEO

BioNews - Petroleum

Expected growth in non-OPEC production reduces the call on OPEC crude required to balance the market (6/11/2014)

On June 11, the Organization of the Petroleum Exporting Countries (OPEC) reaffirmed the group’s crude oil production target of 30 million barrels per day (bbl/d) that has been in place since December 2011. This target is slightly above the 29.8-million-bbl/d call on OPEC crude oil and global stocks during 2014 presented in the June Short-Term Energy Outlook (Figure 1). … Continue reading

Share
Posted in Petroleum | Tagged | Leave a comment

U.S. crude exports in April rise to highest level in 15 years

The United States exported 268,000 barrels per day (b/d) of crude oil in April (the latest data available from the U.S. Census Bureau), the highest level of exports in 15 years. Exports have increased sharply since the start of 2013 and have exceeded 200,000 b/d in five of the past six months. The increase in crude exports is largely the result of rising U.S. crude production, which was 8.0 million b/d in February. Continue reading

Share
Posted in Petroleum | Leave a comment

New England’s love affair with natural gas cools | Peak Oil News …

On the contrary, Stanton testified, any savings from using cleaner-burning gas over heating oil in homes and businesses along the route would be more than offset by pipeline leaks of methane, a potent greenhouse gas, into Continue reading

Share
Posted in Petroleum | Tagged , , , , , , , , , , , | Leave a comment

U.S. Refineries are Running at High Levels (7/17/2013)

Crude runs at U.S. refineries have increased steadily since early March to reach some of the highest levels on record. At 16.1 million barrels per day (bbl/d) for the week ending July 5, U.S. crude oil runs were the highest for any week since 2007. This level represented a 2.1-million-bbl/d increase from the first week of March, the low point for the first six months of 2013. While the increase in crude runs since March reflects a particularly strong rebound from spring maintenance, an underlying combination of recent refinery capacity expansions and relatively healthy margins helped drive the absolute level of runs to a multiyear high. …. Continue reading

Share
Posted in Petroleum | Leave a comment

U.S. natural gas spot prices increased during first-half 2013

Average spot natural gas prices at most major trading points increased 40% to 60% during the first half of 2013 compared to the same period in 2012, as demand for natural gas rose faster than increases in supply. Price increases were relatively uniform throughout the country, with the exception of New England and New York, where supply constraints caused prices to spike when demand peaked this winter. Price differences between Henry Hub and most western trading hubs averaged less than 10 cents per MMBtu. Continue reading

Share
Posted in Petroleum | Leave a comment

Crude oil prices steady

WTI is working its way to a test of the upper range resistance level as the externals have moved back into a support mode for oil and other commodities…. Continue reading

Share
Posted in Petroleum | Tagged , , , , , , , , , | Leave a comment

Oil prices lower after API report

The fundamentals took control of the short term oil price direction over the last two sessions even though there is still no sign that any of the massive QE programs are going to end anytime soon…. Continue reading

Share
Posted in Petroleum | Tagged , , , , , , , , , , , | Leave a comment

RANsquawk – DAILY ENERGY COMMENTARY 15/05/13

Following losses seen after a larger than expected build in API crude inventories yesterday, oil markets have continued a downward trend, amid disappointing European macroeconomic data (Eurozone GDP SA Q1 P Q/Q -0.2% vs. Exp. -0.1%, Prev. -0.6%)…. Continue reading

Share
Posted in Petroleum | Tagged , , , , , , , , | Leave a comment

Fuel Imports Shift Mexico-U.S. Petroleum Trade

Mexico is a net exporter of oil by the broadest measure that encompasses both crude oil and petroleum products. However, like many other major oil producing countries, it depends on cross-border and global trade to meet its need for petroleum products…. Continue reading

Share
Posted in Petroleum | Tagged , , , , , , , | Leave a comment

Oil Prices Are Primed To Drop — Here’s Where The Smart Money’s Going

Remember the "super spike"? That phrase entered our vocabulary five years ago this month when crude oil prices suddenly surged to $120 a barrel. By July 2008, prices surged to $140 a barrel, … Continue reading

Share
Posted in Featured Articles, Petroleum | Tagged , , , , , , , , , | Leave a comment