RBN’s Daily Energy Blog and Insights sharpen your energy IQ through fundamentals-based analysis that makes sense of North America’s energy market dynamics.
Three new U.S. LNG projects have reached a positive final investment decision this year: Venture Global’s CP2 Phase 2, Caturus’s Commonwealth LNG, and now, most recently, Delfin Midstream’s Delfin LNG, which will be the U.S.’s first floating LNG project.
The early signs of a rebound can be seen in Venezuela, where crude oil production and exports are on the rise, although plenty of unknowns remain. Today, we look at how much Venezuelan crude is reaching the U.S., how the U.S. import slate has changed, and preview our latest Drill Down Report.
Crude Oil Permian provides detailed analysis of the fundamental drivers impacting the Permian Basin crude oil market including weekly data, analysis and market intelligence updates of: Permian crude oil supply and demand, pipeline outflows and capacity, prices, and infrastructure updates.
Based on data from the EIA’s Weekly Petroleum Status Report (WPSR), a decline in both imports and exports alongside an increase in refinery runs necessitated a draw in commercial crude inventories for the seventh consecutive week.
U.S. propane inventories increased by 1.1 MMbbl for the week ended June 5, below both industry expectations and the seasonal average. While inventories remain well above year-ago and five-year levels, the pace of stock builds has moderated since early April, particularly in the Gulf Coast region.
CSV Midstream Solutions announced on June 9 that it plans to build a 35 Mb/d fractionation plant in Fort Saskatchewan. Subject to regulatory approval, CSV expects to make a final investment decision (FID) on the project by early 2027, targeting startup in 2029.
There’s an interesting aspect to the buildout of new Permian gas processing capacity, NGL pipelines, fractionators and NGL export terminals, namely that virtually all of the projects are being undertaken by midstream companies that handle NGLs along their entire value chain, from wellhead to water.
Haynesville production is beginning to climb again as spring maintenance winds down, with LNG demand expected to rebound as the Freeport facility restarts and Golden Pass commissioning advances.
NATGAS Permian is a weekly natural gas fundamentals analysis focusing entirely on the key market drivers within the Permian basin. The report contains details and forecasts around natural gas production, demand, pricing, and a summary of pipeline outflows and capacities from the Permian to neighboring regions.
Crude exports out of the Gulf Coast averaged 5.1 MMb/d (far right of chart below) for the week ended June 5. As discussed in our Crude Voyager Report, Louisiana posted its strongest week since August 2023, averaging 864 Mb/d of exports. The increase was driven by elevated activity at the Louisiana Offshore Oil Port (LOOP), which loaded its highest weekly volume since November 2024.
The WTI crude-to-gas ratio has softened in June but remains above year-ago levels. Check out the latest RBN Insight for the details.
The Marcellus/Utica still has vast amounts of natural gas to supply the ongoing surge in demand from power generators and LNG exporters. But there’s a catch: A significant step-up in Appalachian production can only occur if new pipeline infrastructure is built to transport that gas to where it’s needed.
