U.S. Propane/Propylene Storage Spikes Past Expectations

The EIA reported that total U.S. propane/propylene inventories had a build of 4 MMbbl for the week ended June 6, the second largest week on week increase in at least the past 10 years.

May Crude Exports to Africa Near Record Highs

Total crude oil exports from the U.S. Gulf Coast (USGC) for the month of May dropped to 3.46 MMb/d, the lowest monthly volume since January 2023. This decline continues a broader downtrend of crude exports in the last few months.

Oil Sands Gas Demand Rebounds After Short Term Dip Due to Wildfires

Natural gas use in Alberta’s oil sands has rebounded from a late May low (blue line inside of black dashed rectangle in chart below) when wildfires in the oil sands region forced precautionary shutdowns of several bitumen production sites (see our

Maintenance Dampens U.S. LNG Feedgas Demand

U.S. LNG feedgas demand slipped last week to its lowest level since mid-December, driven by ongoing maintenance at Sabine Pass and Cameron.

Mars Crude Oil Price Differential Bounces Back

Just two weeks ago, the price differential for Mars sour crude plummeted to trade at discounts to NYMEX-CME Domestic Sweet (DSW) — the commonly quoted prompt month futures contract price of crude oil.

Gas Outflows from Permian Rise As Compressor Station Returns

Overall outflows of natural gas from the Permian Basin were up slightly last week, with higher outflows to the West. Outflows to the West averaged 2.25 Bcf/d, up 0.08 Bcf/d week-on-week. Higher supply receipts were seen on El Paso Pipeline particularly in the back half of the week.

US Oil and Gas Rig Count Declines Led By Losses in Permian

US oil and gas rig count fell for the sixth consecutive week, falling to 559 for the week ending June 6 according to Baker Hughes data, a decline of four vs. a week ago. Rigs were added in the Haynesville (+2), while the Permian (-3), Anadarko (-2) and Eagle Ford (-1) all posted declines.

Canadian Drilling – Oil Rig Count Held Back by Alberta Wildfires

For the week of June 6, Baker Hughes reported that the Western Canadian gas-directed rig count rose two to reach 45 (blue line and text in left hand chart below) and nine less than one year ago.

Industry Groups Lobby for Extension of 45V Hydrogen Tax Credit

Senate Republicans should keep the 45V tax credit for clean hydrogen in place until at least 2029, and preferably longer, according to a letter signed June 5 by more than 200 companies and industry groups, including the American Petroleum Institute (API), the U.S.

Alberta Sets April Crude Oil Production Record

Alberta’s crude oil output in April 2025 reached a record high for the month at 4.0 MMb/d (rightmost blue column and text in chart below), 0.1 MMb/d above one year ago (itself the prior record holder for April), down 0.2 MMb/d from March, and marks the seventh consecutive month of oil production

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