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Tag Archives: EIA

Oil extends losses on oversupply, China economy concerns persist

SEOUL – Crude oil futures fell on Wednesday, extending two days of losses and rattled by concerns about oversupply and slowing demand, with China’s economic growth likely to fall below 7 percent in the third quarter. Crude futures rose 15 percent in early October but have since fallen back by almost 10 percent as global production continues to outpace demand ...

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U.S. shale oil output to fall by most on record in November: EIA

NEW YORK – U.S. shale production is expected to fall the most on record in November, extending a nationwide output decline into its seventh consecutive month, according to a forecast on Tuesday from the U.S. Energy Information Administration. Total output is set to fall by more than 93,000 barrels per day (bpd) to 5.12 million bpd, according to the EIA’s ...

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U.S. EIA sees tighter 2016 oil market as demand accelerates

NEW YORK – Global oil demand will grow by the most in six years in 2016 while non-OPEC supply stalls, according to a monthly U.S. energy report that suggests a surplus of crude is easing more quickly than expected. Total world supply is expected to rise to 95.98 million barrels a day in 2016, 0.1 percent less than forecast last ...

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U.S. gasoline sales surge at fastest for over a decade: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Gasoline sales to U.S. motorists rose by more than 5 percent in July compared with the same month a year before, according to the U.S. Energy Information Administration (EIA). Gasoline sales are rising at the fastest year-over-year rates for more than 14 years as demand ...

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U.S. crude stockpiles fall more than expected last week – EIA

NEW YORK – U.S. crude oil stocks fell more than expected last week, while gasoline inventories increased and distillates drew down unexpectedly, data from the Energy Information Administration showed on Wednesday. Crude inventories fell 1.9 million barrels in the week to Sept. 18, the second straight weekly drawdown, compared with analysts’ expectations for a decrease of 533,000 barrels. The fall ...

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COLUMN-Falling production is underpinning U.S. oil prices: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON, Sept 16 (Reuters) – U.S. crude oil production is falling sharply, helping put a floor beneath U.S. domestic crude prices and causing them to rise relative to the international marker Brent. In the face of lower prices, the U.S. oil boom has stalled and the industry ...

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U.S. crude inventories might be tighter than they look: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. oil markets have been transformed over the last decade by the emergence of oil trading and storage as a major business in its own right, separate from production and refinery operations. At the end of 2014, there were more than 390 million barrels of ...

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Feds expect decline in shale gas production

Marcellus shale

A new federal government study released Wednesday predicted the nation’s shale gas production will begin to wane starting next month. The U.S. Energy Information Administration’s monthly “Drilling Production Report” projected a nearly 1.5 percent production decrease at the country’s seven major sale regions. This should not come as a shock to industry watchers. In April, the administration warned that the ...

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Can Texas pull through?

In most people’s mind, Texas and oil go together like Rocky and boxing; one just wouldn’t be the same without the other. So, of course it came as no surprise that communities in south and west Texas suffered as oil prices plummeted over the past year. West Texas crude prices hit $39 this week— the lowest it’s been since 2009, ...

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