Brent Premiums Reflect Shifting US Crude Import Patterns
Brent crude’s premium over both Dubai crude and Louisiana Light Sweet (LLS) crude has risen by more than six…
Richmond Refinery Fire Could Decrease Regional Exports
The fire at Chevron’s 257 kbpd Richmond, CA refinery on Monday evening has removed 12% of the state’s distillation…
US Refiners Finally Reducing Crude Inventories
According to monthly data and weekly estimates from the Energy Information Administration (EIA), US domestic crude production continues to…
IEA Trims OPEC Production Capacity Outlook
In addition to cutting demand estimates in its recent Oil Market Report, the International Energy Agency (IEA) sliced its…
Caribbean Refinery Closures Offset by Sagging Demand
During the first quarter of 2012, the dual closure of Valero’s 235 kbpd Aruba refinery and the remaining 350…
Moderating IEA View Limiting Tanker Outlook
In its recent Oil Market Report (OMR), the International Energy Agency (IEA) kept its forecast for 2012 global oil…
Japanese Utility Demand Supports Aframaxes
Although the Japanese government has approved the start-up of two nuclear reactors in July in order to avoid power…
A Delayed Launch
Although estimates of how long repair work will last are better left until Motiva completes its inspection assessments, guesses…
US Crude Stock Build Continues
Six weeks ago, we observed that a surprise US crude inventory build was consistent with seasonal patterns, risk aversion…
Chinese Crude Sourcing Offers Continued Support to VLCCs
The rapid growth of Chinese oil product demand, refining capacity and crude imports has been a supportive feature of…
