Middle East Export Collapse Drives Record Crude Export Plunge
Pandemic-like declines, minus the Pandemic... Global seaborne crude and petroleum product exports averaged 11.8 mb/d lower in May than a year ago, driven by a 14.8 mb/d collapse in Middle East exports, only partly offset by a 3.5 mb/d increase from the U.S. The decline exceeds the worst year-on-year drop during COVID, when exports fell 10.5 mb/d in June 2020.
India Redirects Refinery Output to LPG, Slashing Alkylate Exports
Consumption of LPG (liquified petroleum gases—blends of propane and butane) in India is collapsing as imports from the Middle East no longer flow. India’s state refiners have been directed to maximize LPG production because it is a home cooking fuel...
Hybrids Surge, Battery EVs Stall After
U.S. hybrid vehicle sales hit a record in April, capturing 15% of all light-duty vehicle (LDV) sales. However, Battery EV sales remain subdued after federal tax incentives expired. Globally, battery EVs and PHEVs accounted for 25% of LDV sales in...
Brent Volatility Spikes Amid Geopolitics, Outpacing Fundamentals
Since March, Brent crude oil prices have been very volatile with daily price changes ranging from +10% to -15% because of the back and forth with: Shooting or no shooting? Deal or no deal? Hormuz open or closed? Negotiating or...
U.S. Gasoline Stocks Plunge Equivalent to Full Driving Season
Since February, U.S. motor gasoline inventories have fallen by 46 million barrels, the equivalent to one entire driving season (based on historical norms), but this data is through mid-May. Feb-Nov motor gasoline inventory draws don't normally hit 40 million until...
Hormuz Reopening Won’t Instantly End Oil Shortages
Reopening of the Hormuz is not an instant remedy to the energy supply disruption, there will be a long lag because of transit times and depleted inventories will take time to rebuild... 3 important things to remember 1. Transit times: Tankers are...
API Offers Free Oil & Gas Data via Energy Insights
Something tells me now would be a good time to remind everyone that API has a bunch of answers to basic oil and natural gas questions, like oil production, free and available for everyone to use on the Energy Insights...
Jet Fuel Markets: Low Supply Signals Urgent Action
1 minute and 26 seconds of me explaining jet fuel markets while fighting the urge to quote Top Gun: "Cougar, we gotta land this thing. We are running way low on gas"
Gas Prices: Crude, Refining, Distribution, Taxes Explained
What goes into the price of a gallon at the pump? 1. Crude oil 2. Refining 3. Distribution and Marketing 4. Federal, State and Local Taxes Simple as that.
Global Oil & Gas CAPEX Averages $575 Billion Annually (2022‑25)
For scale: The average annual GLOBAL oil & natural gas CAPEX for 2022-2025 was ~$575bn... https://t.co/esWldvX2SQ
Derivatives Push Up Prices of Oil Substitutes
Ripple Effects: Derivatives and oil-substitute product prices are now rising. - Plastics - Rubber - Cotton - Vegetable oils Only the beginning... https://t.co/79egdw2eDg
Hormuz Tensions Ripple Into U.S. Gasoline Prices
OH and a very tired Mason forgot to mention the simple fact that motor gasoline is made from crude oil...
Analysts Face Summer Updating Hundreds of OPEC Spreadsheets
Please take a moment and think of all the analysts who must now spend their summers updating hundreds OPEC spreadsheets…
U.S. Imports More Crude yet Remains Net Petroleum Exporter
GUIDE: U.S. crude oil and petroleum product trade balances. The United States is BOTH a major importer and exporter of crude oil and petroleum products. These trade patterns allow the U.S. system to balance. But the devil, as always, is in...
EIA’s Data Request Is Routine, Not Regulatory
FYSA - this is not news/exclusive. For the many that will not read the article: EIA said they would be doing this a few months ago. EIA has statutory authority to ask for this kind of information. EIA will not reveal proprietary data....