EghtesadOnline: South Korea overtook China as the No. 2 destination for US crude behind Canada in 2018, as shipments to South Korea soared to a record high of 558,000 barrels per day in December while shipments to China have started to return from zero, according to Energy Information Administration data released Friday.
EghtesadOnline: China’s threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.
EghtesadOnline: The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil.
EghtesadOnline: Asian stocks fluctuated and U.S. equity futures fell as investors weighed the damage from Tropical Storm Harvey on U.S. oil refining centers. The greenback maintained losses after Federal Reserve Chair Janet Yellen failed to provide clues on monetary-policy tightening.
EghtesadOnline: Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States.
EghtesadOnline: While enthusiasm in the U.S. oil market dwindles, things are looking a little brighter across the pond.
EghtesadOnline: Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices.
EghtesadOnline: Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil production shows signs of slowing.
EghtesadOnline: Oil prices were stable on Tuesday, supported by strong consumption but weighed by ongoing high supplies from producer club OPEC and also the United States.
EghtesadOnline: Poseidon is wading into the battle between U.S. crude and Middle East supplies in the world’s biggest oil market.