Crude oil
Argentina’s refiners buy Nigerian crude as second foreign cargo of 2016
Because of quality issues -- Argentina has a surplus of heavy crude that is regularly exported, but it does not produce enough light grades -- refining companies plan to import at least 3 MMbbl of crude.
India sees road building as route to boost fuels
Past experience from the US and other advanced economies suggests massive highway construction will promote the creation of a more integrated national economy and increase freight and passenger traffic further. That will spur further rapid growth in transport fuels such as gasoline and diesel.
US gasoline, distillate inventories drop as refiners raise operating rates
Gasoline stocks fell 2.5 MMbbl, compared to forecasts for a 150,000-bbl drop. Distillate stockpiles, which include diesel and heating oil, fell 3.2 MMbbl, versus expectations for a 642,000-bbl drop.
Analyst: Rising gasoline use in India drives global oil demand growth
Provided India's economy continues to grow, and fuel prices remain moderate, India's thirst for gasoline will be the most important source of oil demand growth over the next few years.
Argentina looks to stop light crude imports, boost domestic refining
Increased refining of domestic light crudes and further investment in the oil sector keep country rolling toward energy independence.
US refiners seek alternatives to Canada oil sands crude
The widespread regional fire is putting a big dent in imports from Canada, and while there are other plentiful sources, they will take time to move to the US Midwest.
IEA: Oil outlook brightens as output disruptions erode surplus
Demand growth, which is unchanged since April, remains at about 1.2 MMbpd, with India, China and Russia helping support demand.
Oil rally stalls as refining fundamentals weaken
Refining margins have also started to soften, which could be a bad sign for oil demand if they encourage refiners to cut crude processing, according to the analyst.
Saudis raise crude oil pricing for Asian refiners by most in over a year
Refiners may choose to not take full contracted volumes, instead seeking alternative crudes on the spot market or access the large amount of crude stored around the region.
Growing gasoline, diesel glut sparks sharp sell-off in global oil markets
The sell-off came amid warnings that supplies could outpace global demand even during the peak summer driving season that traditionally kicks in at the end of May.
- KBR to provide technology for mega-scale ammonia plant in Angola 11/25
- Indian refiners' October crude processing up over 3% y/y 11/25
- Air Liquide strengthens partnership with TotalEnergies through renewable H2 project in France 11/25
- Hexagon collaborates with Microsoft to enhance industrial operations 11/25
- China issues extra crude oil import quota to teapot refineries 11/25
- McDermott achieves ISO 50001 Certification for energy management at four fabrication yards 11/25
