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 June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Indonesia Expects Total to Decide on Mahakam within days

French oil firm TotalĀ  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Water Conservation Measures at Panama Canal

The water levels at Gatun and Madden Lakes are currently well below the expected levels for this time of year. Based on a comprehensive analysis of historic data,

First Subsea Wet Gas Compressor Installed

After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Gullfaks C platform in the North Sea.

 
 
Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1015 sec (10 req/sec)