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USGC blended crude LOOP Sour gets second full assay treatment: In the LOOP

A second detailed assay for the US Gulf Coast blended crude LOOP Sour, which the Louisiana Offshore Oil Port published Monday, shows its gravity has remained stable while its sulfur content edged lower. The oil terminal LOOP published...Show More Summary

Saudi Aramco Converts Crude Oil to Chemicals

Saudi Aramco signs crude-to-chemicals technology agreement

Biggest U.S. East Coast Oil Refinery Files for Bankruptcy

10 hours agoVehicles / Watercraft : gCaptain

By Barbara Powell and Tiffany Kary (Bloomberg) — Philadelphia Energy Solutions LLC, owner of an oil refinery that supplies more than a quarter of the U.S. east coast’s crude refining capacity, filed for bankruptcy with a plan that could allow it to shed some environmental costs. Show More Summary

Today's "Planet Earth Report" --The Worst Oil Spill the World Has Ever Seen: "A Radically Different Mix of Molecules"

A tanker that sank off the Chinese coast was carrying “condensate,” a mix of molecules with radically different properties than crude. Over the last two weeks, the maritime world has watched with horror as a tragedy has unfolded in the...        

Saudi Arabia calls for extending non-OPEC cooperation

Saudi Arabia's Energy Minister Khaled al-Faleh on Sunday called for extending cooperation between OPEC and non-OPEC oil producers beyond 2018 after a deal to shore up crude prices. This is the first time OPEC kingpin Saudi Arabia explicitly calls for extending a 2016 deal between oil producers to cut back production to combat a global oil glut.

Editorial: Oil’s Rout Is Over, Hail the Return of $100 Crude! Maybe

By Julian Lee (Bloomberg Gadfly) — After three years of gloom, the number 100 is finally starting to resurface in the forecasts of market analysts. A slump in new production outside the U.S. shale patch in 2019 could help to send Brent...Show More Summary

US Stocks Finish Higher

Stocks closed higher Friday on Wall Street, driving several of the major indexes to new highs, the AP reports. Retailers and consumer goods companies led the gainers. Energy stocks fell along with the price of crude oil. Utilities declined as bond yields rose. Lowe's rose 3.5% after naming three...

Jury Acquits Railroad Employees In Lac Megantic Fire Disaster

3 days agoNews : The Two-Way

The Canadian panel found three men not guilty of criminal negligence in the derailment and explosion of a train carrying crude oil. The resulting firestorm killed 47 people.

Rig Count Drops As Production Rebounds, But Is It Still Relevant?

The US oil rig count dropped 5 last week to 747, but continues to track the lagged WTI price...     This week saw US crude production rebound from weather-related slowdowns, but has notably decoupled from the lagged rig count...   Leading...Show More Summary

US to overtake Saudi as crude oil producer: IEA

The United States are set to overtake Saudi Arabia as the world's number two oil producer this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday.

Trump’s Offshore Drilling Plan Could Struggle to Lure Big Oil from Other Markets

By Jennifer A. Dlouhy (Bloomberg) — The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude. The Trump administration is hoping to lure some of that investment to the U.S. Show More Summary

Keystone XL Pipeline Meets Critical Hurdle; Announces Heavy Construction May Begin In 2019

"Would ship more than 800,000 barrels of crude oil a day..." The post Keystone XL Pipeline Meets Critical Hurdle; Announces Heavy Construction May Begin In 2019 appeared first on Shopfloor.

OPEC under pressure to scale back production cuts as oil rally continues

The surge of Brent crude prices over the last few weeks to $70 may be rattling OPEC, raising questions about the longevity of the collective production cuts.        

Commercials Are Making a Huge Bet on Oil Prices, Says John Kosar

By FS Staff – As WTI crude went above $50 last year, Kosar noticed that the Commitments of Traders (COT) data was showing a record net-short position among smart money hedgers in the crude oil futures market. Now that crude is in excess of $60 a barrel...

Oil Speculators Back Up The Truck

Via Dana Lyons' Tumblr, Speculators have established their largest ever net long position in crude oil futures; are they about to get drilled?   While all of the attention is on the feats of levitation being displayed by the stock market,...Show More Summary

Groups against planned pipeline sue company for records

Environmental groups trying to keep a crude oil pipeline from crossing Louisiana have filed a public records lawsuit against the company planning to build it. The suit contends that by … Click to Continue »

China races to tackle expanding oil spill after tanker sinks

Chinese ships scrambled Monday to clean up a massive and expanding oil spill after an Iranian tanker sank off China, raising fears of devastating damage to marine life. The Sanchi, carrying 136,000 tonnes of light crude oil from Iran,...Show More Summary

The Best Ways To Save Money On Petrol

A combination of rising crude oil prices, bigger retail margins and a stronger global economy has meant Aussie petrol prices have continued to climb over the past month. The result? Aussies are having to spend an extra $20 a month on...Show More Summary

Oil Propelled Past $70 for First Time in Three Years

By Robert Tuttle (Bloomberg) — Oil reached new highs in London as OPEC members called for output curbs to continue, allaying concerns that the recent rally could weaken their commitment. Brent crude closed above $70 a barrel for theShow More Summary

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