In The News

Thursday, 06/08/2023

June 8, 2023 – Reuters

Oil supply growth still limited as demand rises, US shale executive says

By Arathy Somasekhar

HOUSTON, June 8 (Reuters) - Global demand for crude oil is continuing to rise but supply growth remains limited, which will lead to higher prices later this year, said an executive at Pioneer Natural Resources (PXD.N), the third-largest producer in the top U.S. shale basin.

The U.S. oil industry's output has been capped by higher labor and materials costs that have squeezed profit margins and investor demands to limit...

Thursday, 06/08/2023

June 8, 2023 – Yahoo Finance

Enbridge's Mainline crude pipeline volumes to drop as Trans Mountain expansion

By Arathy Somasekhar

HOUSTON, June 8 (Reuters) - The coming expansion of the Canadian government-owned Trans Mountain pipeline will reduce crude oil flows on Enbridge Inc.'s Mainline oil pipeline, an Enbridge executive said on Thursday.

The expansion, which is expected to begin operations in early 2024, initially will reduce Enbridge's Mainline volumes by 200,000 to 300,000 barrels per day, Senior Vice President Phillip Anderson...

Friday, 06/02/2023

June 2, 2023 – Energy Intelligence

US Crude Exports Diversify as Europe's Share Rises

By Frans Koster

Continued growth in US crude exports is virtually guaranteed as long as production keeps rising. Experts say this dynamic is the result of shale production, which tends to yield light, sweet crude as well as condensate and natural gas liquids in abundance.

The domestic downstream’s configuration, in contrast, is geared towards heavier, higher-sulfur feedstock. “Before [shale], exports of US-sourced crude oil and petroleum products...

Friday, 05/12/2023

May 12, 2023 – Reuters

Record U.S. crude exports, rising shale output boosts oil flow to Houston

By Arathy Somasekhar

HOUSTON, May 12 (Reuters) - Oil pipelines from the top U.S. shale field to Houston that have run half empty are filling again as rising output has absorbed most of the space on lines to the main south Texas export hub in Corpus Christi.

Read the full article here: https://www....

Thursday, 04/13/2023

April 13, 2023 – Argus Leader

Summer gas estimates low compared to 2022, but geopolitical risks threaten Midwest prices

By Dominik Dausch

According to Robert Auers, a fuels market analyst for RBN Energy, the factors that drive up gas prices in other regions have had no effect in the Midwest.

"In California, higher taxes, [low carbon fuel standard], and cap-and-trade costs have driven up West Coast prices.  East Coast prices have seen some upward pressure from regional refinery closures during COVID," Auers said. "As for [...