Prices - Crude Oil

HEADLINES: US Production, Export Milestones; Hess, COP To Up Oil Output 

Plus, Australia finally tops world LNG stage, a new offshore exploration lawsuit emerges in the U.S. and 25 Influential Women in Energy announced.

Jessica Morales

IEA Sees Global Oil Supply Tightening More Quickly In 2019

The global oil market could move into deficit sooner than expected, thanks to OPEC’s output agreement with Russia and others and to Canada’s decision to cut supply, the International Energy Agency said on Dec. 13

Reuters

Rep. Goodlatte Presses Administration To Support Anti-OPEC Legislation

Rep. Bob Goodlatte, outgoing chair of the House of Representatives Judiciary Committee, pressed the Justice Department’s Makan Delrahim on Dec. 12 to support legislation that would make it easier for the U.S. government to sue to stop OPEC members from pushing up oil prices.

Reuters

Privcap Game Change: Oil, Infrastructure Still A Wise Investment

The predicted growth of electric vehicles will certainly hurt oil demand but that shift won’t be felt for another 15 to 20 years, which is more than enough time for investors to make money.

Terrance Harris

Oil Traders Eye Cushing Builds As Sunrise Startup Shifts Flows

Builds from the early startup of the Sunrise pipeline are expected to continue into 2019.

Reuters

USD Partners Contract Will Support New Pipeline Connection, More Storage Capacity At Casper Terminal

Three-year deal will support construction of an outbound connection to the Express Pipeline and a tank to facilitate blending.

Cavalcade Midstream Makes $150 Million Partnership With Pearl, Old Ironsides, NGP

San Antonio-based newcomer is focusing on projects in the Permian Basin.

EIA: US Crude Oil Stockpiles Dip; Gasoline Builds

The EIA reported U.S. crude oil stockpiles fell by 1.2 million barrels in the week to Dec. 7, compared with analysts' expectations for a decrease of 3 million barrels.

Reuters

OPEC Needs To Cut Output By 700,000 bbl/d More For Brent To Hit $70

Oil producer cartel OPEC and its partners will need to keep production lower than their agreed target through 2019 for benchmark Brent crude to come back to $70 a barrel (bbl), oil and gas consultancy Rystad Energy said.

Reuters

OPEC Offsets Iran Oil Loss, Sees Lower 2019 Demand

OPEC said on Dec. 12 it had offset a drop in sanctions-hit Iranian oil exports and lowered the 2019 forecast of demand for its crude, underlining the challenge the producer group faces to prevent a glut even after last week's decision to trim output.

Reuters

US Expected To End 2018 As World's Top Oil Producer, EIA Says

A shale revolution has helped the U.S. produce a record amount of oil this year and topple Russia and Saudi Arabia as the world's biggest producer.

Reuters

Setting Sales: Companies That Push Out Exports

Several companies in the sector play crucial roles as the midstream grows to handle greater sales abroad.

Erin Pedigo

Pages

Like what you read?

Sign up to receive free Midstream Business Newsletters.