(Forbes, 7.Jun.2022) — The world’s thirst for crude oil continues to grow, as exemplified by the big, 5.1 million-barrel draw from U.S. crude inventories announced by the Energy Information Administration (EIA) last week. Referring to the current historically high prices for oil and refined products, one analyst, Amrita Sen from Energy Aspects, […]
Tag: Energy Aspects
China Crackdown Could Knock Oil Import Growth
(Reuters, 23.Jul.2021) — Beijing’s crackdown on the misuse of import quotas combined with the impact of high crude prices could see China’s growth in oil imports sink to the lowest in two decades in 2021, despite an expected rise in refining rates in the second half. Shipments into the world’s […]
Six Norway Oil And Gas Fields Shut Amid Strike
(Reuters, 4.Oct.2020) — Six Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay, companies and union officials said. The strike will cut Norway’s total output capacity by just over 330,000 barrels of oil equivalent per day, or about 8% of total […]
Venezuela, Mexico Divert Crude To U.S. As Canadian Barrels Get Stuck
(Reuters, Marianna Parraga, Collin Eaton, 26.Oct.2018) — Cash-strapped state-run oil companies in Mexico and Venezuela have begun diverting crude historically processed for domestic use and sending it to U.S. refiners now facing transportation constraints to secure similar grades from Canada, data shows. The situation reflects an unusual set of events, […]