LONDON, April 8 (Reuters) – U.S. crude production will peak
this month, according to revised forecasts published by the
country’s Energy Information Administration (EIA).
Output will average 9.37 million barrels per day (bpd) in
April and the same in May before falling to 9.33 million bpd in
June and 9.04 million bpd by September, the EIA predicted in the
April edition of its Short-Term Energy Outlook (STEO).
LONDON, April 7 (Reuters) – Beware diplomats bearing fact
sheets; they rarely reveal the whole truth.
The nuclear negotiations in Lausanne have already produced
three separate fact sheets, issued by the United States, Iran
and France, each highlighting different aspects of the emerging
LONDON, April 1 (Reuters) – More than 1 million barrels of
crude oil move by train across the United States every day,
according to data published for the first time by the government
The volume of crude shipped by rail has increased more than
50-fold in five years, from just 630,000 barrels in January 2010
to 33.7 million barrels in January 2015, the Energy Information
Administration (EIA) revealed in its first monthly report on
movements of oil by rail (link.reuters.com/vyt44w).
LONDON, March 31 (Reuters) – Littlebrook power station,
which towers grimly over the lower Thames near Dartford in Kent,
ceases operations today after almost 35 years, the last of
Britain’s big oil-fired power plants to close.
Littlebrook is an unlikely symbol of modern Britain. But the
power plant played a critical role helping the Conservative
government led by Margaret Thatcher break the miners’ strike of
LONDON, March 27 (Reuters) – California’s gasoline sales are
rising at some of the fastest rates for a decade, as an
improving economy and lower fuel prices encourage more driving,
according to state tax records.
Gasoline sales in December were 2.6 percent higher than the
same month a year earlier, according to records published on
Thursday by the California Board of Equalization, the agency
responsible for collecting fuel taxes.
LONDON (Reuters) – Air strikes by Saudi Arabia and its allies in Yemen have sparked a modest rise in oil prices of $3 per barrel, even though Yemen plays a marginal role in the global oil market.
Yemen produces just 130,000 barrels per day, according to the U.S. Energy Information Administration (EIA), about 0.1 percent of global production and the same as Italy or Kansas.
LONDON, March 26 (Reuters) – Air strikes by Saudi Arabia and
its allies in Yemen have sparked a modest rise in oil prices of
$3 per barrel, even though Yemen plays a marginal role in the
global oil market.
Yemen produces just 130,000 barrels per day, according to
the U.S. Energy Information Administration (EIA), about 0.1
percent of global production and the same as Italy or Kansas.
LONDON, March 25 (Reuters) – Traffic on U.S. highways has
hit a new record as the economy recovers and the lower cost of
gasoline and diesel encourages more travel.
Cars and trucks drove a record 3.050 trillion miles on U.S.
highways in the 12 months ending in January, passing the
previous peak of 3.039 trillion set in the 12 months to November
2007, according to the Federal Highway Administration (link.reuters.com/vyj44w).
LONDON, March 24 (Reuters) – Traders do not appear worried
that rising oil stocks in the United States will cause storage
space to run out in the next few months, despite the rapid
accumulation of inventories at Cushing in Oklahoma.
The term structure of futures contracts has remained broadly
stable since the end of January (link.reuters.com/xyg44w).
LONDON, March 23 (Reuters) – Hedge funds have turned
super-bearish about U.S. oil prices as concerns about running
out of storage trump the drop in the number of rigs drilling new
Money managers had amassed a record number of short
positions in futures and options contracts linked to WTI (West
Texas Intermediate) by the end of March 17, equivalent to 209
million barrels of oil, according to the U.S. Commodity Futures
Trading Commission’s (CFTC) latest commitments of traders report
published on Friday.