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Crude Oil

In early May, the California retail gasoline price averaged $4.01 per gallon (gal), surpassing the $4/gal mark for the first time since 2014. By comparison, the U.S. retail gasoline price averaged $2.90/gal. Read more

Refining & Petrochemical Processing

Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and on demand concerns linked to a protracted trade war between China and the United States. Read more

Commodities

The United States produced a record amount of energy from various sources in 2018. Read more

Drilling & Exploration

Energy trade accounted for 12% of the value for all U.S. exports to Mexico and 5% of all U.S. imports from Mexico in 2018. Read more

Refining & Petrochemical Processing

Export volumes by destination changed significantly during the year, as U.S. crude oil exports to China fell and exports to other destinations such as South Korea, Taiwan, and Canada increased. Read more

Pipeline/Transportation

Annual U.S. crude oil production reached a record level of 10.96 million barrels per day (b/d) in 2018, 1.6 million b/d (17%) higher than 2017 levels. Read more

Drilling & Exploration

U.S. crude oil hit a 2019 high on Monday and Brent gained a dollar after tight supply and positive signs for the global economy drove both benchmarks’ largest first-quarter gains in nearly a decade. Read more

Commodities

EIA’s Annual Energy Outlook 2019 Reference case projects that U.S. tight oil production, which became the more common form of oil production in 2015, will continue to increase through 2030. Read more

Drilling & Exploration

Crude oil surpassed hydrocarbon gas liquids (HGL) to become the largest U.S. petroleum export. U.S. crude oil exports increased by 787,000 b/d, or almost 80%, from the first half of 2017 to the first half of 2018. Much of this crude oil went to... Read more

Commodities

Oil prices rose on Friday but were heading for yet another weekly decline as concerns intensified that trade disputes and slowing global economic growth could hit demand for petroleum products. Read more

Commodities

Chinese oil importers are shying away from buying U.S. crude as they fear Beijing’s decision to exclude the commodity from its tariff list in a trade dispute between the world’s biggest economies may only be temporary. Read more

Commodities

Tallgrass Energy, LP announced plans to develop a new crude oil pipeline from Cushing, Okla., to the St. James, La., refining complex, as well as a separate new export-capable liquids terminal strategically located near the mouth of the Mississippi. Read more

Pipeline/Transportation

Enterprise Products Partners LP said on Wednesday it would expand its Seaway crude pipeline system capacity to about 950,000 barrels per day (bpd) from 850,000 bpd. Read more

Pipeline/Transportation

Oil prices rose by over 1 percent toward $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months. Read more

Commodities

In the June 2018 update of its Short-Term Energy Outlook (STEO), EIA forecasts Brent crude oil prices will average $71 per barrel (b) in 2018 and $68/b in 2019. Read more

Refining & Petrochemical Processing

Oil prices fell on Wednesday, hit by rising supplies in the United States and expectations that producer group OPEC could relax voluntary output cuts. Read more

Drilling & Exploration

U.S. oil fell nearly 2 percent on Thursday, despite a larger-than-expected decline in U.S. crude inventories, while global benchmark Brent was little changed, pushing the spread between the two to its widest in more than three years. Read more

Refining & Petrochemical Processing

Louisiana Offshore Oil Port (LOOP) LLC has successfully completed the first Very Large Crude Carrier (VLCC)...Shale Support Holdings LLC has opened its newest exclusive terminal in Gibsland, Louisiana...Eco-Energy Distribution Services has opened... Read more

Tanks/Terminals/Storage

Oil prices rose on Friday stayed below recent highs as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. Read more

Refining & Petrochemical Processing

U.S. President Donald Trump criticized OPEC on Friday for output curbs that have helped raise global oil prices and said “artificially” high prices would not be accepted. Read more

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