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Wednesday, 30 January 2019
Upcoming changes in marine fuel sulfur limits will affect crude oil and petroleum product markets (1/30/2019)
In January, the U.S. Energy Information Administration (EIA) released the Annual Energy Outlook 2019 (AEO2019) that includes an analysis of the medium- and long-term implications of upcoming changes to marine fuel sulfur specifications on crude oil and petroleum product markets. This analysis follows the release of EIA's January 2019 Short-Term Energy Outlook (STEO) that examined the same marine fuel change implications through 2020. ... More »
Tuesday, 29 January 2019
Crude oil prices forecast to increase, but remain lower than 2018 averages as global inventories build (1/24/2019)
In the January 2019 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $61 per barrel (b) in 2019 and $65/b in 2020, down from the 2018 average of $71/b (Figure 1). EIA forecasts that oil prices will remain lower than levels seen for much of 2018 because relatively strong global oil supply growth over the next two years outpaces growth in consumption. In 2019, EIA forecasts global liquid fuels production to average 101.8 million barrels per day (b/d) and consumption to average 101.5 million b/d, which would result in inventory builds. ... More »
Thursday, 24 January 2019
Crude oil prices forecast to increase, but remain lower than 2018 averages as global inventories build (1/24/2019)
In the January 2019 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $61 per barrel (b) in 2019 and $65/b in 2020, down from the 2018 average of $71/b (Figure 1). EIA forecasts that oil prices will remain lower than levels seen for much of 2018 because relatively strong global oil supply growth over the next two years outpaces growth in consumption. In 2019, EIA forecasts global liquid fuels production to average 101.8 million barrels per day (b/d) and consumption to average 101.5 million b/d, which would result in inventory builds. ... More »
Wednesday, 16 January 2019
Upcoming changes in marine fuel sulfur limits will affect crude oil and petroleum product markets (1/16/2019)
In the January 2019 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) includes the effects that upcoming changes to marine fuel sulfur specifications will have on crude oil and petroleum product markets. Set to go into effect January 1, 2020, the new International Marine Organization (IMO) regulations limit the sulfur content in marine fuels used by ocean-going vessels to 0.5% by weight, a reduction from the previous limit of 3.5%. The change in fuel specification is expected to put upward pressure on diesel margins and modest upward pressure on crude oil prices in late 2019 and early 2020. ... More »
Upcoming changes in marine fuel sulfur limits will affect crude oil and petroleum product markets (1/16/2019)
In the January 2019 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) includes the effects that upcoming changes to marine fuel sulfur specifications will have on crude oil and petroleum product markets. Set to go into effect January 1, 2020, the new International Marine Organization (IMO) regulations limit the sulfur content in marine fuels used by ocean-going vessels to 0.5% by weight, a reduction from the previous limit of 3.5%. The change in fuel specification is expected to put upward pressure on diesel margins and modest upward pressure on crude oil prices in late 2019 and early 2020. ... More »
Wednesday, 9 January 2019
Crude oil prices end the year lower than they began in 2018 (1/9/2019)
Brent crude oil averaged $72 per barrel (b) in 2018, nearly $17/b more than the average price for Brent in 2017. The annual change for West Texas Intermediate (WTI) increased similarly, averaging $65/b, more than $14/b greater than in 2017. Nevertheless, Brent ended the year at $54/b, nearly $13/b lower than it began the year, while the WTI price ended the year at $45/b, nearly $15/b lower than at the beginning of the year (Figure 1). Last year marks the first time since 2015 that either crude oil ended the year at a lower price than it began. The spread between Brent and WTI prices increased in 2018, averaging $7.02/b, nearly double the 2017 average spread. ... More »
Friday, 4 January 2019
This Week in Petroleum: Best of 2018 (1/4/2019)
Today's This Week in Petroleum articles were originally published throughout 2018. New feature articles of This Week in Petroleum will return on January 9. The accompanying charts and tables have been updated to reflect data from the latest Weekly Petroleum Status Report for the week ending December 28, 2018.. ... More »
This Week in Petroleum: Best of 2018 (1/4/2019)
Today's This Week in Petroleum articles were originally published throughout 2018. New feature articles of This Week in Petroleum will return on January 9. The accompanying charts and tables have been updated to reflect data from the latest Weekly Petroleum Status Report for the week ending December 28, 2018.. ... More »
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