Crude oil
EIA: US crude oil exports went to more destinations in 2016
In 2016, US crude oil exports averaged 520,000 bpd, 55,000 bpd (12%) above the 2015 level, despite a year-over-year decline in domestic crude oil production. Even though oil exports have increased, growth in US crude oil exports has slowed significantly from its pace from 2013 to 2015, when annual US crude oil production grew rapidly.
Asia refiners snap up cheap light oil to reap higher fuel profits
SINGAPORE/SEOUL (Reuters) -- As the cost of light crude drops, some refiners in Asia are snapping up cargoes of the oil that is easier and cheaper to process than their usual diet of heavy crude, chasing profits from making diesel and gasoline.
OPEC, non-OPEC to look at extending oil-output cut by six months
KUWAIT (Reuters) -- A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months, it said in a statement on Sunday.
Native Americans to meet Norway's wealth fund watchdog over pipeline
OSLO (Reuters) -- Standing Rock Sioux tribe representatives will meet the ethics watchdog for Norway's $915 billion sovereign wealth fund on Monday over a US oil pipeline, a watchdog official said on Monday.
Thai Oil buys first crude cargoes from Oman, US amid OPEC cuts
SINGAPORE (Reuters) -- Thailand's largest oil refiner Thai Oil has bought its first ever cargoes of US Eagle Ford crude and Oman crude as its diversifies purchases amid OPEC production cuts, two sources with knowledge of the matter said on Friday.
Saudi exports to US to fall by 300,000 bpd in March
DUBAI (Reuters) -- Saudi Arabia's crude exports to the United States in March will fall by around 300,000 bpd from February, in line with OPEC's agreement to reduce supply, a Saudi energy ministry official said on Thursday.
Oman says it could cut crude exports by 15% from June for Sohar refinery
SINGAPORE (Reuters) -- Non-OPEC oil producer Oman has notified customers in Asia that it could reduce supplies of crude by 15% from June to meet demand at a domestic refinery, and as part of its commitment to cut output under a landmark producers' agreement, three people who received the notices said on Friday.
TransCanada gets presidential permit for Keystone XL pipeline
(Reuters) -- TransCanada Corp said on Friday the US Department of State issued a presidential permit for the construction of the Keystone XL oil pipeline, a project blocked by former President Barack Obama.
Venezuelans line up for gasoline as OPEC nation's oil industry struggles
CARACAS/PUNTO FIJO, Venezuela (Reuters) -- Grumbling Venezuelans were lining up for scarce gasoline across the OPEC nation on Wednesday, due to mounting oil industry woes in the country with the world's largest crude reserves.
EIA: US crude stockpiles at record high as imports surge
(Reuters) -- US crude oil stocks rose to a fresh record last week, the Energy Information Administration said on Wednesday, as a surge in imports and rising domestic production more than offset a hike in refinery runs.
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