EPIC Midstream Holdings LLC on Thursday began shipping crude oil on its 400,000 barrel per day (bpd) pipeline from the Permian Basin to the U.S. Gulf Coast, pushing Midland crude prices to the highest in six months, traders said. — Read on http://www.reuters.com/article/epiccrude-pipeline-startup/exclusive-epic-midstream-ships-first-crude-on-new-permian-line-to-gulf-coast-idUKL2N25B1SX Advertisements
EIA data show an unexpected weekly climb in U.S. crude supplies Myra P. Saefong The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 5.4 million barrels for the week ended May 10. Analysts and traders expected a fall of 1.4 million barrels, on average, according to a survey by The Wall Street […]Read more "EIA data show an unexpected weekly climb in U.S. crude supplies – MarketWatch"
Oil prices rise as API data reportedly show a surprise decline in U.S. crude supplies – MarketWatch — Read on http://www.marketwatch.com/story/oil-prices-rise-as-api-data-reportedly-show-a-surprise-decline-in-us-crude-supplies-2019-02-26Read more "Oil prices rise as API data reportedly show a surprise decline in U.S. crude supplies – MarketWatch"
Some of the biggest pipeline operators in the United States have supercharged earnings this year by buying deeply discounted shale in West Texas oilfields and selling it at a premium at Gulf Coast ports. — Read on http://www.reuters.com/article/usa-crude-pipelines/u-s-pipeline-operators-reap-hefty-profits-from-bottlenecks-in-texas-idUSL2N1XI2E3Read more "U.S. pipeline operators reap hefty profits from bottlenecks in Texas | Reuters"
The United States is pumping record amounts of oil, vaulting over Russia to become the world’s biggest producer of crude. — Read on http://www.click2houston.com/news/national/us-is-now-worlds-top-oil-producer-energy-department-saysRead more "US is now world’s top oil producer, Energy Department says"
Phillips 66 Partners said Friday it was expanding to 900,000 b/d the capacity of its Gray Oaks crude pipeline, now under construction, supported by strong demand to move Permian crude to the US Gulf C — Read on http://www.spglobal.com/platts/en/market-insights/latest-news/oil/102618-phillips-66-partners-expanding-gray-oaks-crude-pipeline-capacity-to-900000-b-dRead more "Phillips 66 Partners expanding Gray Oaks crude pipeline capacity to 900,000 b/d | S&P Global Platts"
US crude exports to China dropped to zero in August, down from about 384,000 b/d in the previous month amid the escalating trade war between the two countries. The drop contributed to an overall decline of US crude exports in August to 1.75mn b/d, down from 2.14mn b/d in July, according to Census Bureau trade […]Read more "News | Argus Media"
Major oil trading houses are predicting the return of $100 crude for the first time since 2014 as OPEC and its allies struggle to compensate for U.S. sanctions on Iran’s exports. With Brent crude already jumping to an almost four-year high on Monday, that’s exactly the kind of price surge President Donald Trump has been […]Read more "Major traders are talking about $100 oil again – Midland Reporter-Telegram"
3 U.S. oil prices retreated in electronic trading Tuesday after the American Petroleum Institute reported that U.S. crude supplies increased by 1.249 million barrels for the week ended Sept. 14., according to sources. The build comes after a sizable decline of 8.6 million barrels for the week ended Sept. 7. Phil Flynn, senior market analyst […]Read more "Oil prices pare gain in electronic trade after API report shows weekly crude build – MarketWatch"
North Dakota’s oil production surged to a new record in July, putting the mid-western state on par with OPEC member Venezuela. Home to the Bakken shale play, North Dakota pumped 1.27 million barrels a day in July, according to state figures released Friday. That’s roughly the same output as Venezuela during the month. The South […]Read more "North Dakota Is Now Pumping as Much Crude as Venezuela – Bloomberg"