(Bloomberg) Crude oil loadings in Russia’s Pacific port of Kozmino have been halted because of a storm that started Friday night, according to crude-pipeline operator Transneft PJSC. Other ports stopped…
oil supply
Libya Says Oil Output Back to 1.2 Million Barrels a Day
By Salma El Wardany (Bloomberg) –Libya’s oil production has picked up again after a blockade of its western fields ended and ports in the east reopened, according to the OPEC member’s energy minister….
https://gcaptain.com/libya-says-oil-output-back-to-1-2-million-barrels-a-day/
Oil Edges Up as U.S. Gulf Producers Assess Damage After Ida
By Sheela Tobben (Bloomberg) –Oil closed modestly higher Monday in New York as offshore explorers assess damage from Hurricane Ida and investors shift focus to an OPEC+ meeting that could see…
Hurricane Ida Pummeled U.S. Gulf Coast Energy Suppliers
By Liz Hampton and Erwin Seba HOUSTON, Aug 30 (Reuters) – Hurricane Ida pummeled U.S. Gulf Coast energy suppliers, knocking out most of the region’s offshore wells and nearly half…
Workers flee 90 Offshore Facilities As Extremely Dangerous Hurricane IDA Churns Toward Oilfields
(Reuters)-U.S. oil and gas companies on Friday cut more than 1.6 million barrels of oil production as a major storm churned toward oilfields that provide 17% of the nation’s oil…
Reducing Oil Use To Meet Climate Targets Is Tougher Than Just Cutting Supply
By Stephanie Kelly (Reuters) Governments around the world have been slow to take uncomfortable decisions to persuade consumers to cut energy consumption to help achieve climate targets, often because consumers…
Winter Storm Leads To An Increase In Heating Fuel Demand
Crude oil futures were slightly higher during mid-morning trade in Asia Feb. 16, extending overnight gains, as the ongoing Arctic blast across North America caused supply disruptions, propelling demand for heating fuel higher, reports S&P Global.
Disruptions in supplyAt 11.48 am Singapore time (0348 GMT), the ICE Brent April contract was up by 34 cents/b (0.54%) from the Feb. 15 settle to $63.64/b, while the March NYMEX light sweet crude contract was up 79 cents/b (1.33%) to $60.26/b.
The cold...
https://mfame.guru/winter-storm-leads-to-an-increase-in-heating-fuel-demand/
2021 – Euronav Predicts Oil Freight Rate Weakness Will Continue All Year
by Charles Regnier (Reuters) – Belgium’s Euronav expects pressure on freight rates to continue until late 2021, the tanker operator said as it reported weaker than expected quarterly results on…