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Oil Data News

07 Dec 2023

Russia Pledges More Oil Data to Ship Trackers

© AUUSanAKUL+ / Adobe Stock

Russia has pledged to disclose more data about the volume of its fuel refining and exports after OPEC+ asked Moscow for more transparency on classified fuel shipments from the many export points across the vast country, sources at OPEC+ and ship-tracking firms told Reuters.Russia is the only member of OPEC+ which contributes to export cuts rather than production cuts as part of its participation in the group's agreement to curb supplies. Market analysts have struggled to verify…

10 Apr 2020

The Numbers Tell the Story of Oil Industry Crisis

© Kalyakan/AdobeStock

Global oil producers and refiners are struggling with a series of unprecedented dislocations as the simultaneous epidemic and volume war between Saudi Arabia and Russia rip through every element of the supply chain.Some idea of the extraordinary speed and scale of the disruptions was evident in the "Weekly Petroleum Status Report" published by the U.S. Energy Information Administration on Wednesday.The United States is the world's largest oil consumer and producer, though it is…

19 Feb 2019

IMO Urges GHG Reduction

International Maritime Organization (IMO) Secretary-General Kitack Lim has called for Member States and the entire maritime sector including shipping and ports, to come on board to achieve the ambitions set out in the historic IMO initial strategy for reducing greenhouse gas emissions from international shipping, adopted last year.The UN body said that the strategy makes a firm commitment to a complete phase out of GHG emissions from ships, a specific linkage to the Paris Agreement and a series of clear levels of ambition, including at least a 50 per cent cut in emissions from the sector by 2050.“We need to focus on technology transfer and research and development…

05 Aug 2016

US Crude Oil Exports Plunge in June

U.S. crude oil exports plunged by more than 40 percent in June, foreign trade data from the U.S. Census Bureau showed on Friday, after Brent's premium to U.S. crude hovered in a tight band earlier this year. Total exports dropped to 383,000 barrels per day from May's record of 662,000 bpd, according to data compiled by Reuters. Exports to Canada were 280,000 bpd versus 308,000 bpd a month prior. Exports to United Kingdom were 37,000 bpd, nearly unchanged from May. Meanwhile, exports to Curacao were 17,000 bpd, a sharp drop from May's 67,000 bpd. The export declines were likely a result of Brent's May and June contracts having traded in such a tight band to U.S. crude earlier this year. At one point, Brent even briefly traded at a discount. Typically, a wide premium for Brent over U.S.

30 Sep 2014

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop in more than two years on plentiful supplies. * Underpinned by firm U.S. $115.71 in June as investors focused on a well supplied market, although it has regained some footing since touching a 26-month trough last week. Monday's upbeat U.S. consumer spending data for August added to signs of strength in the world's top economy, aiding oil prices. "Although economic data from Europe and other regions have been sluggish, U.S. economic indicators, such as the upward revision of its gross domestic product data, have been firm," said Hiroki Kakuno, analyst at Japanese refiner Idemitsu Kosan.

22 May 2013

Hermes Datacomms Wins Two-year African Support Contract

Bill Green, Account Director, Hermes Datacommunications International Ltd.

Hermes Datacommunications International Ltd., a company providing Wide Area Network communications to the upstream oil and gas industry, won a contract to support Tullow Oil plc. for their operations in Africa. The 24-month deal sees the company use its pan–African satellite platform to provide a connection from Tullow Oil’s data center in London to its Ethiopia office in Addis Ababa, extending core services to the continent and growing the current services in Kenya. Ian Theophilus…

25 Nov 2012

China Oil Demand Growth Slows

China's demand for oil in October 2012 was meaningfully weaker that it was the previous month. The detailed Chinese oil data for October were reported yesterday. Calculated demand adjusted for inventory changes came in at 9.5 million b/d. This was meaningfully weaker than demand in September which was calculated at a record 9.76 million b/d. Chinese oil demand has hovered close to the 9.5 million b/d level since March. If you want to make a bullish twist to that number you would use worlds like “Chinese oil demand continue close to record high levels”, or “Chinese oil demand surpassed 9.5 million b/d for only the 5th time in history”. The reality is however that it is the growth numbers we are mainly interested in when it comes to China.

01 May 2003

EIA: US stocks remain low

report (ending 18 April) from the US. reported an even bigger gain of 13.1 mb. remain uncomfortably low. just three weeks earlier. inventories to normal". million barrels, i.e. years. Stocks of gasoline and distillates are also down for the time of year. closer to "normal". past 2 years, although only slightly so far this year. and more than 1 mbd of imports. and May until increased demand starts drawing down inventories. which in turn means less crude will be going into storage. towards winter, as distillate stocks remain very low for the time of year. year and 16.6% below the 5-year average. summer to rebuild inventories to more comfortable levels". before the war. considerably lower in the next couple of weeks than the record of last week.