Wildfires that began over the weekend have shut in oil and gas production in some of the most productive Bakken areas in North Dakota. Burn scars (see map below) have been identified for the Ray-Tioga, Elkhorn and Bear Den fires. 

Based on data from the U.S. Census Bureau, re-exports of Canadian heavy crude oil from the Gulf Coast in August 2024 averaged 114 Mb/d (height of the rightmost stacked columns in chart below), a pullback of 96 Mb/d from July and 39 Mb/d less than a year ago.

Venture Global’s Plaquemines LNG has been receiving small gas deliveries consistently since mid-September from an interconnect with Texas Eastern Pipeline (TETCO), but the terminal has not yet begun producing first LNG.

Saudi Arabia’s Aramco has cut again official selling prices for its crudes destined for U.S. markets.

Crude oil flows from the Permian Basin to the U.S. Gulf Coast (USGC) dipped in April for the second consecutive month, decreasing to 5.4 MMb/d. Despite the decline, April’s volumes remain 2% higher than the average for 2023.