Crude oil stocks at the Cushing, Okla., delivery hub for U.S. crude futures rose 330,000 barrels, the Energy Information Administration said in its weekly report.
Crude inventories in the U.S. rose by 7,000 barrels in the week to Dec. 28, compared with analyst expectations for a decrease of 3.1 million barrels, the EIA said in its report.
A Reuters survey suggests Saudi Arabia and some of its allies in OPEC acted unilaterally to bolster the market by limiting its oil output early as crude prices slid on the possibility of a new glut.
U.S. crude stocks fell modestly last week, while gasoline stocks increased more than expected, the Energy Information Administration said on Dec. 28.
CorEnergy Infrastructure Trust Inc. said Dec. 17 that its executive chairman, Richard Green, has tendered his resignation from the board of directors of the company, effective January 1, 2019.
Three-year deal will support construction of an outbound connection to the Express Pipeline and a tank to facilitate blending.
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.
The C$265 million sale to Enbridge consists of Leismer pipelines and a Cheecham storage terminal serving the Leismer oil sands and Corner projects in Athabasca’s Alberta thermal oil business.
The EIA reported crude oil inventories fell 7.3 million barrels in the week to Nov. 30, which was the first drop in U.S. crude stocks since September and came as exports surged to a record.