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Crude Oil

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REUTERS/Marwa Rashad

Oil prices have fallen this year as the rapid spread of the coronavirus in China, the world’s largest energy consumer, has dented demand. Read more

Commodities

In the Annual Energy Outlook 2020 Reference case, EIA projects that the United States will remain a net exporter of total petroleum liquids. Read more

Refining & Petrochemical Processing

The U.S. Energy Information Administration projects that the United States will export more crude oil and petroleum products combined than it imports until 2050. Read more

Commodities

In November 2019, the United States exported 772,000 barrels per day (b/d) more petroleum than it imported, marking the third consecutive month in which the United States was a net petroleum exporter. Read more

Commodities

In 2018, while production was increasing, the total number of wells producing crude oil and natural gas in the United States fell to 982,000, down from a peak of 1,035,000 wells in 2014. Read more

Drilling & Exploration

U.S. crude oil stockpiles rose far more than anticipated last week as refiners cut runs on the back of weakened demand for fuel, with gasoline inventories building to a record high, the Energy Information Administration said on Wednesday. Read more

Commodities

Crude oil supply disruptions—realized or expected—can have large and immediate effects on crude oil prices. Read more

Commodities

North America had the highest crude oil refinery capacity under maintenance (both planned and unplanned) globally in 2019. Read more

Maintenance & Reliability

U.S. crude oil production growth slows because of a decline in drilling rigs during the past year. EIA expects this trend will continue through most of 2020. Read more

Commodities

U.S. oil production from tight formations increased in 2019, accounting for 64% of total U.S. crude oil production. This share grew because of the increasing productivity of new wells that were brought online during 2019. Read more

Drilling & Exploration

EIA expects that crude oil prices will remain elevated in the first few months of 2020, reflecting a price premium on crude oil from recent geopolitical events. Read more

Commodities

Oil rose as the long-awaited Phase 1 trade deal between the United States and China brought some relief to markets. Read more

Commodities

The price of Brent crude oil, the international benchmark, averaged $64 per barrel (b) in 2019, $7/b lower than its 2018 average. Read more

Commodities

EPIC Midstream has completed the loading of its first shipment of crude oil from its new dock in the Inner Harbor, another milestone in the Port of Corpus Christi’s continued growth as a net exporter of American energy. Read more

Midstream

Enterprise and Enbridge agreed to focus commercial development efforts on Enterprise’s Sea Port Oil Terminal (“SPOT”) deepwater crude oil terminal. Read more

Tanks/Terminals/Storage

In the November STEO, EIA increased its U.S. benchmark West Texas Intermediate (WTI) crude oil price forecast by $2 per barrel (b) in November to $56/b and by $1/b in both December and January to $55/b and $54/b, respectively. Read more

Commodities

This rise in U.S. export destinations coincides with the late 2015 lifting of restrictions on exporting domestic crude oil. Read more

Refining & Petrochemical Processing

The project was one of at least nine crude oil export terminals proposed for the U.S. Gulf Coast to load U.S. shale oil onto supertankers. Read more

Offshore & Marine

The API gravity of crude oil input to U.S. refineries has generally increased, or gotten lighter, since 2011 because of changes in domestic production and imports. Read more

Refining & Petrochemical Processing

On Saturday, September 14, 2019, an attack damaged the Saudi Aramco Abqaiq oil processing facility and the Khurais oil field in eastern Saudi Arabia. Read more

Commodities