EIA Data on Crude Oil Production Shows Disconnect Between Weekly, Monthly Trends

Crude oil production came in at 12.2 MMbbl/d for the second week in a row in the week ended June 23, according to the EIA's Weekly Petroleum Status Report, maintaining a near-flat growth trend over the p

A Widening AECO Price Discount is Spurring Additional Canadian Natural Gas Exports

Firming natural gas prices of late in the U.S. are not translating to as much of an increase for Canadian natural gas prices, meaning that the basis – or price discount – for benchmark AECO prices has been widening (i.e., becoming a greater discount).

U.S. Weekly Propane Inventories Build By 2.6 Million Barrels Despite Record-High Exports

The EIA reported that total U.S. propane inventories increased by 2.6 MMbbl for the week ended June 23. The build was slightly above industry expectations for an increase of 2.5 MMbbl and the 2.1 MMbbl average build for the week. Total U.S.

Ethane Steam Cracker Margins Weaken

Most petrochemical business insiders would expect ethane to be the most economical ethylene plant feedstock right now with the oil-to-gas ratio currently at a relatively healthy 25 to 1. But ethane feedstock margins are currently about 5 c/lb lower than normal butane and 1 c/lb below propane cra

U.S. LNG Exports to Europe Drops

Overall feedgas last week averaged 10.54 Bcf/d, up 220 MMcf/d week-on-week, driven by higher flows to Freeport.

Denbury Moving Forward on Two More CCS Projects in Louisiana

Denbury Inc. is moving forward on a pair of new carbon capture and sequestration (CCS) initiatives in Louisiana, the company said in a June 27 announcement.

Corpus Christi Loads Second-Highest Crude Weekly Volume at 2.8 MMb/d

The Crude Voyager report shows that crude oil loadings across the U.S. Gulf Coast were estimated at 4.3 MMb/d for the week ended June 23, up 71 Mb/d from the previous week.

Most of U.S. At Elevated Risk for Energy Shortfall This Summer: NERC

Large sections of the U.S. are susceptible to electricity supply shortages this summer, according to the North American Electric Reliability Corporation’s (NERC) summer reliability report.

Fundamentals Indicator Crude-To-Gas Ratio Comes Back to Earth from the Stratosphere

After spending most of 2023 in the stratosphere, the crude-to-gas ratio is finally coming down to earth. This ratio is simply the price of WTI crude oil divided by the price of Henry Hub natural gas. It is an indicator of the strength of crude prices relative to gas, with a high ratio usually

US Rig Count Continues To Fall, Dropping to 682

US Oil and Gas rig count continued to decline this week, falling to 682 rigs for the week ending June 23 according to Baker Hughes. This marks a weekly decline of 5 vs.

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