U.S. Stock Build Eases Oil Pricing

Wednesday, November 29, 2000
U.S. crude stocks last week rose for the fourth straight week though low import levels kept the increase below expectations, according to the American Petroleum Institute (API). The API showed crude stocks gained more than 1.8 million barrels for the week ending November 24, pulling the year-on-year deficit down to just 8.2 million barrels from nearly 30 million less than a month ago. Oil prices fell on news of the stockbuild, dipping 22 cents to $34/barrel. Analysts had expected a bigger build of around three million barrels, expecting that some 30 million barrels of crude that President Clinton ordered to be released from the Strategic Petroleum Reserve would now be hitting storage tanks. The API figures showed the SPR release had deterred imported crudes, reporting low crude imports of just 7.67 million bpd.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

Rederij Groen Takes Delivery of 7-Waves

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves,

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1013 sec (10 req/sec)