Natural gas prices rise at hubs across the continent.
The reduction by the UAE has helped boost OPEC compliance this month with its production-cutting deal to 95%, up from an initial February estimate of 94% and a record high, according to Reuters surveys.
Crude oil inventories rose by 867,000 barrels in the week ending March 24, compared with analysts' expectations for an increase of 1.4 million barrels, the EIA said.
The Nederland terminal on the Sabine-Neches waterway between Beaumont and Port Arthur, Texas, provides area customers with about 26 million barrels (MMbbl) of crude and 1 MMbbl of NGL aggregate storage capacity.
Russia and Iran have pledged to continue efforts to rein in oil production and stabilize markets, the presidents of both countries said in a joint statement on March 28.
Local authorities had sought to move landfall of natural gas line from Azerbaijan.
But crude was weighed down by a resurgence in U.S. shale oil production and the expectation that inventories would once again build, illustrating the global supply overhang that has depressed prices for three years.
The new venture plans to build a 1 million tonne per year ethane steam cracker in Port Arthur, Texas, and is considering building a 625,000 tonnes per year polyethylene unit at Total's Bayport site.
Second terminal on Baltic Sea presented as an alternative to a planned pipeline to Norway.
Williams subsidiary’s project would move 400,000 dekatherms per day to Northeast.
The agreement has elevated the price of crude to more than $50/bbl, but it helped U.S. shale oil producers boost their output, hampering efforts to reduce global stockpiles, Reuters reported.
A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months.