• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 31 mins Rioting and Protesting
  • 6 hours Trump waves a Bible
  • 3 hours George Floyd’s History
  • 3 hours US and Australia Sign SPR Lease Agreement
  • 8 hours Healing, Not Hatred
  • 11 hours Coronavirus hype biggest political hoax in history
  • 1 min The Downside of Political Correctness
  • 50 mins Let's try to link the recent events back to the situation with oil production and pricing
  • 8 hours Let’s Try This....
  • 1 day Anti-Lynching Bill
  • 4 hours China’s Oil Thirst Draws an Armada of Tankers
  • 15 mins China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 5 hours Trumps Oil Industry....
  • 10 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 15 hours China to Impose Dictatorship on Hong Kong

Florida Runs Low On Fuel Ahead Of Hurricane Irma

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.…




Oilprice - The No. 1 Source for Oil & Energy News