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U.S. Gulf of Mexico oil, gas producers begin restarting after Barry

17 hours ago DieselGasoil Comments Off on U.S. Gulf of Mexico oil, gas producers begin restarting after Barry
HOUSTON (Reuters) – U.S. oil companies on Monday began restoring some of the more than nearly 74% production shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the U.S. offshore drilling regulator said. There was 1.3 million barrels per day (bpd) of oil production off line in the U.S.-regulated areas of the Gulf Read More

Analysis: US crude stocks likely dip last week in wake of Barry-induced shut-ins

18 hours ago DieselGasoil Comments Off on Analysis: US crude stocks likely dip last week in wake of Barry-induced shut-ins
Highlights Crude stocks expected down 4.2 million barrels at 454.8 million barrels Hurricane Barry shuts-in bulk of Gulf of Mexico offshore production Export slowdown likely blunts overall crude draw New York — Production shut-ins in the Gulf of Mexico ahead of Hurricane Barry likely contributed to a sharp decline in US crude stocks last week, Read More

Oil dips as US Gulf production, refining operations return to normal

18 hours ago DieselGasoil Comments Off on Oil dips as US Gulf production, refining operations return to normal
New York — Oil futures settled lower Monday, shedding risk premiums as Hurricane Barry continued to weaken far inland and Gulf Coast oil operations began to normalize. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX August WTI closed at $59.58/b, down 63 cents, while ICE September Brent fell Read More

New Orleans cargo traffic set to resume as Barry weakens

2 days ago DieselGasoil Comments Off on New Orleans cargo traffic set to resume as Barry weakens
Washington — The port of New Orleans opened to some traffic Sunday and was expected to resume normal cargo operations Monday as Tropical Storm Barry headed further inland. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The storm was expected to weaken to a tropical depression later Sunday, the Read More

Russian S-400 benefits NATO, US should do what strategic partnership entails – Erdogan

2 days ago DieselGasoil Comments Off on Russian S-400 benefits NATO, US should do what strategic partnership entails – Erdogan
Turkey’s Recep Tayyip Erdogan said NATO “should be happy” that a member state was beefing up security, even with Russia’s S-400 air defense system. He also called on Donald Trump to waive sanctions and sell Turkey fighter jets. If Turkey “will become stronger in its security area, who will also be stronger? This will strengthen Read More

Louisiana refinery preps for restart as Storm Barry blows over

2 days ago DieselGasoil Comments Off on Louisiana refinery preps for restart as Storm Barry blows over
HOUSTON (Reuters) – Phillips 66 was preparing on Sunday to begin a restart on Monday of its southeast Louisiana refinery, which was shut because of the threat of Tropical Storm Barry, the company said. The Phillips 66 Lake Charles Refinery is pictured in West Lake, Louisiana, U.S., June 12, 2018. REUTERS/Jonathan Bachman Barry has shut Read More

Another global oil glut looms: International Energy Agency forecasts ‘oversupplied market’ for 2020

2 days ago DieselGasoil Comments Off on Another global oil glut looms: International Energy Agency forecasts ‘oversupplied market’ for 2020
The International Energy Agency (IEA) is predicting the return of a glut in the oil market in 2020, as OPEC expects demand for its crude to drop while its competitors increase production. In the first half of this year, the supply of oil exceeded global demand by 0.9 million barrels per day (bpd), and “This Read More

Hurricane Barry makes landfall mid-Louisiana coast; weakens to tropical storm after landfall

3 days ago DieselGasoil Comments Off on Hurricane Barry makes landfall mid-Louisiana coast; weakens to tropical storm after landfall
New York — Hurricane Barry made landfall on the Louisiana coast at midday Saturday with winds barely meeting hurricane criteria, but fears of flooding and storm surges remain for low-lying areas due to heavy rainfall, according to the National Hurricane Center. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Read More