Refining frenzy worsens fuel glut in Asia

Asia is drowning in Chinese fuels and things are about to get worse over the next three years as new refining capacity in the world’s second-largest economy begins operating. According to Bloomberg columnist David Fickling, the teapots—China’s independent, private refiners—are the main driver of the glut that is choking off Asian refiners’ margins and pressuring prices. […]

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Palladium ranks as the best-performing metal of 2018; smashes another record

Palladium’s premium to platinum jumped to a record, building on its ranking as the best-performing metal of 2018. Shortages of the metal used in autocatalysts for gasoline-fueled vehicles sent its price to yet another all-time high, widening the price difference with rival platinum to more than $500 an ounce early this week. Most analysts don’t […]

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China’s commericial crude oil stocks fell 3.4 percent month on month in August – report

China’s commercial crude oil stocks fell 3.42 percent in August from a month earlier, while stocks of refined oil products dropped 0.97 percent, according to data compiled by the official Xinhua News Agency. The fall was a result of decreasing output and imports, and rising processing volume, according to Xinhua. Gasoline stocks went down during […]

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Hurricane Harvey caused U.S. Gulf Coast refinery runs to drop, gasoline prices to rise

Hurricane Harvey caused substantial disruptions to crude oil and petroleum product supply chains and increased petroleum product prices, the U.S. Energy Information Administration (EIA) said. For the week ending September 1, 2017, gross inputs to refineries in the U.S. Gulf Coast fell by 3.2 million b/d, or 34%, from the previous week, the largest drop […]

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Two different impacts: Hurricane Harvey disturbed supply, Hurricane Irma could destroy demand

Things could get a lot more complicated in the days ahead with a potentially catastrophic Category 5 hurricane barrelling towards Puerto Rico, Cuba, South Florida and maybe the Gulf of Mexico. Hurricane Irma had sustained wind speeds of 180 miles per hour on Tuesday, which appears to be one of the strongest hurricanes ever recorded in the Atlantic.  It […]

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U.S. exports of crude oil and petroleum products have more than doubled since 2010, says EIA

U.S. crude oil and petroleum product gross exports have more than doubled over the past six years, increasing from 2.4 million barrels per day (b/d) in 2010 to 5.2 million b/d in 2016, according to the U.S. Energy Information Administration (EIA). Exports of distillate, gasoline, propane, and crude oil have all increased, but at different […]

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India’s oil consumption growth declining, data shows

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India’s gasoline consumption has been dropping in recent months after tremendous growth between 2014 and 2016, according to data from the Petroleum Planning and Analysis Cell at the Ministry of Petroleum and Natural Gas. India’s oil consumption fell for the third straight month in March as the demand growth in diesel, petrol and other products came to […]

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COMMENTARY – Putting the right price on energy

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Getting energy prices right is critical for sound policymaking. But because of government subsidies in many countries around the world, energy prices paid by consumers are often well below their real market value, let alone the price that would reflect energy’s full environmental and social cost, writes Toshiyuki Shirai, Senior Energy Analyst, World Energy Outlook. […]

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