• 4 minutes Your idea of oil/gas prices next ten years
  • 7 minutes WTI Heading for $60
  • 13 minutes Could EVs Become Cheaper than ICE Cars by 2023?
  • 2 hours Pros and Cons of Coal
  • 2 hours Why does US never need to have an oil production cut?
  • 2 hours US continues imports of Russian gas which it insists Europe should stop buying
  • 3 hours Oil Prices
  • 3 days Germany Discusses Lifting Ban on Deporting Syrians
  • 2 hours French Fuel Protests
  • 23 hours Regular Gas dropped to $2.21 per gallon today
  • 17 hours Warren Buffett
  • 21 hours Is California becoming a National Security Risk to the U.S.?
  • 13 hours And Just Like That, Everybody Stopped Talking About $100 Oil
  • 1 day Trump administration slaps sanctions on Saudis over Khashoggi's death
  • 2 days Pence says South China Sea Doesn't Belong To Any One Nation
  • 2 days Commission: U.S. Could Lose Wars With Russia, China

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…

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
-->