• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 11 hours The United States produced more crude oil than any nation, at any time.
  • 1 day China deletes leaked stats showing plunging birth rate for 2023
  • 14 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 6 days Bad news for e-cars keeps coming
Editorial Dept

Editorial Dept

More Info

Florida Runs Low On Fuel Ahead Of Hurricane Irma

Gasoline

Friday September 8, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. U.S. could become net oil exporter

- According to S&P Global Platts PIRA Energy, the U.S. will become a net oil exporter by 2023, a dramatic turnaround from a peak import dependence in 2005 when the U.S. imported 12.5 million barrels of oil per day.
- The change will come in large part because of ongoing growth in U.S. shale production.
- The U.S. is expected to import an average of 4.4 mb/d this year on net. That will shift to a situation of net exports rising to 3.3 mb/d by 2031.
- S&P Global Platts says that declining import dependence will increase the odds that the U.S. begins selling off its strategic petroleum reserve to fund non-energy items.

2. Brent-WTI spread deepened on Hurricane Harvey

- The spread between Brent and WTI, two of the most important oil benchmarks, has been relatively small for years. Prior to 2014, the spread was often much larger, reflecting different conditions within the U.S. (WTI) compared to the rest of the world (Brent).
- But the spread opened up again this summer, a symptom of rapid growth in U.S. oil production at a time when OPEC is limiting supply from the Middle East.
- Hurricane…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News