Crude oil
Trans Mountain pipeline in Canada hits full capacity two years after upgrade
The uncertainty in global crude markets and the disruption to the Strait of Hormuz have increased demand for Canadian oil from Asian markets, but have also made it difficult to predict the pipeline's utilization rates beyond the short-term.
China learns to live on less fuel, to the relief of oil markets
Gasoline sales at Sinopec, which runs China's biggest network of petrol stations and is the world's largest refiner, dropped 8% on-year in April while diesel fell 6%.
Opinion: Hormuz reopening could be OPEC’s undoing
The Iran war and the closure of the vital waterway – through which nearly a fifth of the world’s oil and gas flowed before the conflict – have sharply diminished output from the Organization of the Petroleum Exporting Countries and moved the industry’s center of gravity away from the Middle East.
U.S. summer driving season hits as gasoline supplies squeezed tight
Surging summer demand from American motorists has not stopped U.S. refiners from increasingly prioritizing lucrative diesel and jet fuel production to backfill global shortages caused by shipping disruptions at the Strait of Hormuz.
U.S. sanctions Cuban state oil company, adding obstacles for fuel imports
Washington has imposed sanctions on an array of Cuban entities and people, including the island nation's president, as it seeks to intensify pressure on Cuba's communist leaders.
EU proposes 21st package of sanctions against Russia, targeting banks, refiners, traders, LNG
The EU has proposed a 21st package of sanctions against Russia for its war in Ukraine, heavily targeting the country's banks and crypto networks as well as drone production, oil traders and refiners.
Chinese refiners delay projects with Middle East oil supply disrupted
The delays come as the Iran conflict has crunched refiners' margins, with the Middle East oil supply disruption driving up crude prices, while they face state fuel price caps. At the same time fuel demand has weakened due to electric vehicle growth.
U.S. oil exports surge, draining domestic crude inventories toward rock bottom
Cushing is among the largest oil storage hubs in the world. Oil levels in its tanks have fallen rapidly since the war began and Iran effectively closed tanker traffic through the Strait of Hormuz.
Indian companies willing to deepen presence in Venezuela
New Delhi was the second-largest importer of Venezuelan oil in May, with purchases of 427,000 bpd.
Kuwait can restore 70% of oil output in 6–8 weeks of Hormuz reopening, KPC executive says
Kuwait's timeline for its production recovery is shorter than some forecasts for a full reopening of transits through the Strait of Hormuz.
- Ineos to shut polystyrene facility in Illinois (U.S.) by the end of the year 6/19
- How ASTM approval of methanol-to-jet accelerates SAF at scale 6/19
- EU crafts plan to give industries extra free CO2 permits this year 6/19
- PetroChina forecasts Chinese oil consumption will drop 4.9% this year 6/19
- Digital Exclusive: Water injection pump mechanical seals failure after pump shutdown 6/19
- Russian gasoline output down 25% so far in June after drone attacks on refineries 6/19
