• 5 minutes Trump vs. MbS
  • 9 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Can the World Survive without Saudi Oil?
  • 6 hours WTI @ $75.75, headed for $64 - 67
  • 54 mins The Dirt on Clean Electric Cars
  • 6 mins Petrol versus EV
  • 5 hours The end of "King Coal" in the Wales
  • 5 hours These are the world’s most competitive economies: US No. 1
  • 3 mins EU to Splash Billions on Battery Factories
  • 1 day Uber IPO Proposals Value Company at $120 Billion
  • 14 hours Saudi-Kuwaiti Talks on Shared Oil Stall Over Chevron
  • 12 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 4 hours E-mopeds
  • 21 mins U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 14 hours Coal remains a major source of power in Europe.
  • 4 hours 10 Incredible Facts about U.S. LNG
Alt Text

Trump Threatens Iran’s Oil Clients

Trump has directed yet another…

Alt Text

US Demands For More Oil Could Backfire

The State Department’s request for…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

High Diesel Demand Could Cause An Oil Price Spike

Diesel

Friday September 29, 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. More light oil, less heavy oil

(Click to enlarge)

- The uptick in oil production since March 2017 has come largely from lighter forms of oil, more than offsetting declines in medium and heavier oils, according to the EIA.
- This is the result of a rise in shale production at a time when OPEC is cutting back. But outages and declines in Mexico, Canada and Venezuela have also taken heavier barrels off of the market, while production increases in Libya and Nigeria have added new lighter barrels to global supply.
- Lighter oil typically trades at a premium to heavier oil, but the increase in supply of lighter oil and the cutbacks in heavier oil have led to a narrowing of the price spreads between them.
- The premium for Louisiana Light Sweet (LLS) over heavy Maya has declined significantly from $9 per barrel in March to just $5 per barrel in August. Similarly, WTI’s $13 premium to Western Canadian Select has narrowed to $10 per barrel over the same timeframe.

2. EVs beat oil-fueled cars on maintenance

(Click to enlarge)

- Electric cars continue to gain ground on incumbent technologies (gasoline…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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