Category: Petroleum Daily

Many nations with high oil consumption across the world are seeing infection levels that they didn’t have even during the first wave,” said Paola Rodriguez-Masiu

Oil prices had a tough day today initially falling below the $35/bbl mark but traded up later in the session. US GDP numbers showed a strong rebound in Q3 from Q2 numbers

The project is an important job creator for families in Alaska, with more than 1,000 jobs expected during peak construction and more than 400 jobs during operations, creating more revenue for the State, and offering protections for important resource values such as caribou and subsistence activities

Oil prices were strong today after yesterday’s sell off. Contango in the oil markets has also been strong as of late further indicating a potential surplus in the short term.

It’s a dark Monday in the oil market,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy. . .

What’s holding us back is the uncertainty about demand –– when we’re going to get a vaccine, when things are going to get back to normal, concerns about more shutdowns versus concerns about tightening supplies,

Oil increased slightly for the day remaining mostly flat coming off of yesterday’s big gasoline inventory build. Looking at gasoline, overall product supplied (a proxy for demand) was down 13% year over year.

Oil prices were lower today despite a larger than expected crude inventory draw. The report did outline struggling fuel demand as Gasoline and Distillate demand was down 287K/bpd and 587K/bpd respectively.

“If we get a deal, I think that would be supportive, and if we don’t get a deal, I think that’s going to be somewhat punishing for prices

Prices were mostly flat for the day as rising Libya production and increased Covid cases are offset by more stimulus hopes.