Wednesday, 25 April 2018
Wednesday, 18 April 2018
U.S. imports of Canadian crude oil by rail increase (4/18/2018)
Growth in Canadian crude oil production has outpaced expansions in pipeline takeaway capacity, driving Canadian crude oil prices lower and increasing Canadian crude oil exports by rail to the United States. However, the outlook for increased volumes of Canadian crude oil by rail to the United States is highly uncertain despite increased U.S. demand for Canadian crude oil, specifically on the U.S. Gulf Coast. ... More »
Wednesday, 11 April 2018
Retail gasoline prices this summer are expected to be 11% higher than in summer 2017 (4/11/2018)
The U.S. Energy Information Administration (EIA) forecasts that drivers in the United States will pay an average of $2.74 per gallon (gal) this summer for regular gasoline, an increase of 11% over last summer, according to EIA's Short-Term Energy and Summer Fuels Outlook. EIA's forecast price for summer 2018 (which runs from April through September) is 26 cents/gal higher than the average price last summer, but still 15 cents/gal lower than the 2013–2017 summer average (Figure 1). The price increase this summer primarily reflects higher forecast crude oil prices compared with last year. EIA projects that monthly average gasoline prices will remain mostly flat this summer, averaging $2.78/gal from April through June before falling to $2.65/gal in September. ... More »
Wednesday, 4 April 2018
Changes to income tax law have significant effects on U.S. oil producers (4/4/2018)
Publicly traded U.S. oil exploration and production (E and P) companies annually assess their expected future cash flows from their proved reserves based on prevailing prices, technology, and geology. In addition to these primary factors, with the recent release of proved reserves assessments for 2017, U.S. E and P companies included effects associated with changes to corporate income tax law enacted at the end of 2017. The implications for the 2017 proved reserves reports include fewer tax liabilities for the companies than under the old tax law, ultimately contributing to the total increase in the future cash flow they expect from proved reserves. ... More »