Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
China plans to boost US crude imports, even though they had been falling short of targets. Chinese state-owned oil firms have tentatively booked tankers to transport at least 20 million barrels of U.S. crude for August and September.
North America rig count moved higher and is up 4 rigs week over week. Canada gaining 7 rigs week over week and Canada’s overall rig count rose this to 54 active rigs.
Oil prices edged lower today as pessimism about this year’s oil demand resurfaces. After two major forecasters (OPEC and the IEA) revised down their projections, the market is looking at the weakening outlook just as production is on the upswing.
the latest surge of infections in the U.S. will need to be closely monitored, as a continuation of this trend may lead to erosion in rebounding consumer confidence and spending behavior,
“CP is committed to operating in an ethical and responsible manner that considers our obligations to employees, customers, communities and shareholders,”
Crude oil prices traded up today after a larger than expected inventory drop. U.S. crude oil, gasoline and distillate inventories fell last week as crude production dropped sharply and refiners ramped up production
Oil prices whipsawed from gains to losses during the trading session, led lower by other financial markets, falling below a key technical level.
Oil prices climbed today on hopes of increased stimulus and improving Chinese factory data. Oil also got a boost when the TSA announced that airport screening numbers hit the highest level since mid-March.
The U.S. Court of Appeals for the District of Columbia ruled on Wednesday of last week that the Dakota Access Pipeline (DAPL) does not have to be shut and drained, as per a lower court order on July 6.
The U.S. Congress can’t seem to come up with a plan for the next round of stimulus and it’s creating doubt for U.S. economic recovery,