Prices - News

Crude Oil

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

Construction

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.

Crude Oil

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

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

Crude Oil

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

Crude Oil

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

Crude Oil

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

Crude Oil

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

Construction

US Diplomat: Russia Gas Pipeline To Boost Grip On Ukraine, Europe

Transit revenues would evaporate when Nord Stream 2 goes online, says Francis Fannon.

Reuters

Crude Oil

Russia Sees Modest Oil Output Cuts In January

Russia plans to cut its oil output by at least 50,000 to 60,000 barrels per day (bbl/d) in January, its energy minister said on Dec. 11, less than its final target under a global production deal reached last week, aiming for gradual, smooth reductions.

Reuters

Crude Oil

Petrobras Oil Pipe Spills 377 Barrels After Theft Attempt

Most of the spill has been cleaned up but event illustrates the danger of oil theft.

Reuters

LNG

India’s Petronet Looking For Long-Term Deal To Buy US LNG

The deal could be as long as 10 years and include buying a stake in a U.S. project.

Reuters

Pipelines

Shell To Go Ahead With Shearwater Gas Expansion In North Sea

Royal Dutch Shell (NYSE: RDS. A) said on Dec. 10 it would expand the Shearwater gas hub in the British North Sea, its seventh project to get the green light in the ageing basin this year.

Reuters

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