CRUDE OIL US crude inventories declined by 2.5 MMbbl the week that ended Jan. 10, according to last week’s report from the US Energy Information Administration. Gasoline and distillate stocks increased by 6.7 MMbbl and 8.2 MMbbl, respectively, resulting in a very large increase of 14.5 MMbbl for total petroleum inventories. Inventory builds across the […]

Austin, Texas and Midland, Texas (January 21, 2019) – Enverus, the leading energy SaaS and data analytics company, and Concho Resources (NYSE: CXO) today announced they will bring to market a new product, Audit Analytics, which enables energy companies to reduce costs by identifying erroneous overbilling in high volume shale operations. Audit Analytics builds on […]

IN BRIEF Retail giant Amazon has announced the Amazon Wind Farm Texas, a massive farm housing more than 100 turbines that will add 1 million megawatt hours (MWh) of clean energy to the local grid. It is the company’s 18th renewable energy project in the U.S., with 35 more in the planning stages. On Thursday, […]

Natural gas storage inventories decreased 109 Bcf for the week ending January 10, according to the EIA’s weekly report. This was larger than expected, which was a draw of 94 Bcf. Working gas storage inventories now sit at 3.039 Tcf, which is 494 Bcf above inventories from the same time last year and 149 Bcf […]

US crude oil stocks posted a decrease of 2.5 MMBbl. Gasoline and distillate inventories increased 6.7 MMBbl and 8.2 MMBbl, respectively. Yesterday afternoon, API reported a crude oil build of 1.1 MMBbl alongside gasoline and distillate builds of 3.2 MMBbl and 6.8 MMBbl, respectively. Analysts, to the contrary, were expecting a crude oil draw of […]

CRUDE OIL US crude oil inventories increased 1.2 MMbbl the week that ended Jan. 3, according to last week’s report from the US Energy Information Administration. Gasoline inventories increased 9.1 MMbbl while distillate inventories increased by 5.3 MMbbl. Total petroleum inventories posted a very large increase of 14.8 MMbbl. US crude oil production was flat […]

On June 21, 2019, a massive fire and explosion ripped through the Girard Point section of the Philadelphia Energy Solutions (PES) refinery, destroying the largest alkylation unit on the East Coast. Unable to recover from such a devastating blow, cash-strapped PES made the fateful decision to permanently close the refinery. In doing so, PADD 1 […]