• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 10 hours Science: Only correct if it fits the popular narrative
  • 3 hours Crazy Stories From Round The World
  • 33 mins EU has already lost the Trump vs. EU Trade War
  • 13 hours Iran Burning: Shock Gas Price Hike Triggers Violent Protests After Subsidy Cuts
  • 2 hours Impeachment Nonsense
  • 4 hours Everything You Need To Know About Trump
  • 1 day Do The World's Energy Policies Make Sense?
  • 22 hours What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 2 days China's Renewables Boom Hits the Wall
  • 13 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 2 days Forget out-of-date 'dirty oil' smear, Alberta moving to be world's cleanest oil industry
  • 2 days Water, Trump, and Israel’s National Security
  • 21 hours Who writes this stuff? "Crude Prices Swing Between Gains, Losses"

Breaking News:

Russia Plans To Boost Crude Oil Exports

Oil Markets Will Only Get Tighter

Rig

Friday June 22, 2018

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.

(Click to enlarge)

Key Takeaways

- Because the EIA changed the way it displays U.S. weekly production figures, rounding off to the nearest 100,000 bpd, it is now difficult to decipher weekly changes. The weekly figures appear unchanged from the week before.
- Crude stocks fell sharply, a bullish result, although that was offset a bit by the increase in gasoline inventories.
- Gasoline demand appears to have plummeted but it is more likely the result of a more accurate picture of demand after an outlandishly high figure from last week.

1. U.S. exports of petroleum products to Venezuela jumps

(Click to enlarge)

- The decline of Venezuela’s oil sector has led to an increasing reliance on imported petroleum products from the United States.
- Venezuela’s decrepit refineries has resulted in the declining availability of finished gasoline, distillates and other products.
- Over the last few years, Venezuela’s imports of U.S. “unfinished oils” has spiked, which is used to blend with Venezuela’s heavy oil.
- The problem for Venezuela is that more recently, it has lost…




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