Industrialized Cyclist Notepad


Oil Companies Spending More, Producing Less

via James Hamilton via WSJ: http://econbrowser.com/archives/2014/01/big-oil-companies-spending-more-and-producing-less

costlyquestwsj
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U.S. oil demand rising again

Via EIA Week in Review.

Total products supplied over the last four-week period averaged about 19.7 million barrels per day, up by 3.7 percent from the same period last year. Over the last four weeks, motor gasoline product supplied averaged over 9.0 million barrels per day, up by 3.3 percent from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels per day over the last four weeks, up by 11.1 percent from the same period last year. Jet fuel product supplied is 1.6 percent higher over the last four weeks compared to the same four-week period last year.



Egypt in the red
July 28, 2013, 11:25
Filed under: Uncategorized | Tags: , , , , ,

via Energy Export Databrowser:

egyptinthered



WTI catches back up to Brent
July 21, 2013, 00:23
Filed under: Uncategorized | Tags: , , , , , , ,

West Texas Intermediate crude became more expensive than Brent for the first time in almost three years as pipeline and rail shipments helped clear a bottleneck that reduced the price of the U.S. benchmark.

WTI hadn’t been higher than Brent since Aug. 17, 2010. The move was in intraday trading. WTI averaged $17.47 less than Brent in 2012 and traded as much as $23.44 lower than its European counterpart Feb. 8.

Improved pipeline networks and the use of rail links are helping to ease the North American oil glut created by rising production of crude from shale formations. WTI has jumped 18 percent this year, while Brent has decreased 2.5 percent as North Sea supplies stabilized after maintenance.

via WTI Crude Exceeds Brent for First Time in Almost Three Years – Bloomberg.



What IEA says

IEA… Not a good track record with the predictions. Doesn’t stop ‘em from throwing out new crazy numbers every year.

While geopolitical risks abound, market fundamentals suggest a more comfortable global oil supply/demand balance over the next five years. The MTOMR forecasts North American supply to grow by 3.9 million barrels per day (mb/d) from 2012 to 2018, or nearly two-thirds of total forecast non-OPEC supply growth of 6 mb/d. World liquid production capacity is expected to grow by 8.4 mb/d – significantly faster than demand – which is projected to expand by 6.9 mb/d. Global refining capacity will post even steeper growth, surging by 9.5 mb/d, led by China and the Middle East.

via IEA – May:- Supply shock from North American oil rippling through global markets.



China will consume an increasing share of available oil exports

“China is importing an increasing amount of crude, which is the most crucial issue for the country’s energy supply,” said Zhang during the Boao Forum for Asia Annual Conference

And the most crucial issue for the world’s energy supply too.

One way to look at it is that we in the west are being outbid by people in Asia for available oil exports. The price is high because if it were any lower people would want to consume more than can currently be produced.

via China depends more on overseas oil |Economy |chinadaily.com.cn.



Canada-US pipeline map

The Pegasus line through Arkansas is spewing its contents into a subdivision.

pipelinemap
click to enlarge




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